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Tag: regulator

Internet regulator considered for UK

Internet regulator considered for UK

Technology
The UK government is considering "all options", including a regulator, as part of new legislation governing the internet.It has previously said it will publish a White Paper in the coming months, laying out its proposals.According to Buzzfeed News, the White Paper will propose a regulatory body similar to Ofcom, which regulates broadcasters and telecoms companies.The government told the BBC it would publish the White Paper this winter.But a spokesman for the department for Digital, Culture, Media and Sport (DCMS) said it had nothing to share at this time.A cross-party committee investigating misinformation and fake news has already suggested areas for new legislation ahead of the White Paper.In July, it recommended: reforming electoral law for the digital...
Highest energy bills to fall under regulator plan

Highest energy bills to fall under regulator plan

Business
Energy regulator Ofgem has announced plans for a new price cap that it says will save up to 11 million households on poor value supplier deals £75 on average. The industry watchdog's proposals would see energy suppliers being forced to cap their annual tariffs at £1,136 - a move that could save those on the worst deals up to £120 per year."The exact savings each individual household would make will depend on the price of their current deal, how much energy they use, whether they have both gas and electricity and how they pay for their energy," Ofgem said.The watchdog suggested that many consumers on default tariffs use more energy than a typical household, so their savings would be higher."Those who buy their electricity and gas from different suppliers woul...
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