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Haryana real estate regulator serves notice on Supertech for cheating homebuyers

Haryana real estate regulator serves notice on Supertech for cheating homebuyers

Finance
GURGAON: The Haryana Real Estate Regulatory Authority (HRERA) has issued a notice to Supertech Limited for allegedly cheating homebuyers for a non-existent residential project, an official said today. HRERA chairman K K Khandelwal said in an official statement that the authorities approved neither a project nor any plan, but the real estate developer allegedly sold dwellings units. The notice was issued on a complaint filed by a Sector 46 resident against Supertech Limited. "The builder issued an advertisement in a national Hindi newspaper on January 16, 2016 to invite applications for a new project 'Officer Enclave', which offered high-rise independent floors on Sohna Road, even though the property did not exist," the statement said. "We are reviewing the entire matter accordingly. If nee...
Water companies have damaged trust, regulator Ofwat says

Water companies have damaged trust, regulator Ofwat says

Business
High levels of payments to bosses and investors by water companies have damaged customer trust, the regulator Ofwat has said.It has published new rules that will force firms to explain how executive pay is linked to performance and to prioritise customers' interests.It comes as the bosses of several water firms prepare to be quizzed by MPs.The company chiefs will be facing the Environment, Food and Rural Affairs Committee later. Ofwat chief executive Rachel Fletcher said: "The decisions some water companies have made on dividends, financial structures and top executive pay have damaged customer trust."She added the move was "an important step in making sure water companies put customers' interests and those of future generations, at the heart of all the d...
A former top Wall Street regulator turns to the blockchain

A former top Wall Street regulator turns to the blockchain

Finance
SAN FRANCISCO — Gary Gensler was one of the top financial regulators in the Obama administration, the finance chief for Hillary Clinton's 2016 presidential campaign and, before both of those jobs, a partner at Goldman Sachs.Now, like many other big names from business and government, he is plunging into the world of the blockchain, the data-tracking technology introduced by Bitcoin.Mr. Gensler, 60, has recently gone to work at the Massachusetts Institute of Technology, where he will write and teach about the potential he sees for blockchains to change the financial world.More from the New York Times: Subpoenas signal S.E.C. crackdown on initial coin offeringsHow Trump consultants exploited the Facebook data of millionsAn explanation of initial coin offeringsHe will also use his position to
Poundland 'naughty' elf ad deemed 'irresponsible' by regulator

Poundland 'naughty' elf ad deemed 'irresponsible' by regulator

Technology
A Poundland ad campaign that featured innuendo and depictions of sexual acts has been deemed "irresponsible" by the Advertising Standards Authority (ASA).The pre-Christmas social media posts featured a "naughty" toy elf and were published on Twitter and Facebook.One image featured the elf holding a tea bag in a suggestive pose with a plastic doll.The ASA ruled that this and eight other images breached its code of practice for advertisers.The regulator pointed out that the images were available on "ungated" websites and therefore viewable by anyone, including children.'Demeaning'Some of the posts may also have been seen as demeaning to women, the ASA added.Poundland's initial response to the complaints had been to state that the elf campaign was based on humour and double entendres, accordi...
Sky-Fox deal not in public interest, says regulator

Sky-Fox deal not in public interest, says regulator

Business
Fox's proposed takeover of Sky is not in the public interest on grounds of media plurality, the UK's Competition and Markets Authority (CMA) has said.The CMA has provisionally found that if the deal went ahead as planned, it would give the Murdoch family too much control over news providers in the UK.However, the CMA found the deal would not be against the public interest on the grounds of broadcasting standards.Disney has agreed to buy most of Fox's business, so may end up owning Sky.Disney's proposed takeover, which still has to be approved by US regulators, includes Fox's current 39% stake in Sky.And if the Sky-Fox deal does finally go through, the whole of Sky would be likely to transfer to Disney's ownership.Wide influenceFox has been trying to buy the 61% of Sky that it does not curr...