Wednesday 27th July 2016
NEWS TICKER: JULY 26TH 2016: Barclays Africa will announce its 2016 interim financial results on Friday 29 July at 07:00. Following the JSE SENS announcement, the results will be published along with the presentation and booklet on www.barclaysafrica.com thereafter. Maria Ramos, Barclays Africa Group Chief Executive, and David Hodnett, Barclays Africa Group Deputy Chief Executive, will host a Press Briefing at 10h45. The briefing will commence with introductory remarks, followed by a Q&A session - CACEIS is now depositary for the first two mutual ship funds under the German KAGB investment act. The two closed-end funds, “MS Marguerita” and “MS Tanja”, will both be managed by “MST AIFM Eins Fonds manager GmbH”, which is the investment management company of “MST Mineralien Schiffahrt Spedition und Transport GmbH.” Matthias M Ruttmann, managing director of MST explains: “We found CACEIS to be a flexible service provider, keen to seek out solutions for new asset types: Our ships will be the first of this asset type to be structured in a German AIF. We have put our trust in CACEIS`s experience in dealing with regulations and launching funds holding new asset types, so will have a solid framework for the launch of the funds.” Holger Sepp, Member of the Management Board at CACEIS in Germany added: “When entering the closed-end funds industry, we clearly committed ourselves to delivering depository service to all major asset types. We are very proud that MST has put its faith in CACEIS`s willingness and ability to service its ship AIFs. During the last couple of months, we have ensured we are fully prepared to handle all relevant requirements for the funds such as the depository function and relevant legal aspects.” -- Carillion, part of a 50:50 joint venture with Dutch Infrastructure Fund, have achieved financial closure on the Irish Schools Bundle 5 Public Private Partnership project that has been procured by the Department of Education & Skills alongside Ireland's National Treasury Management Agency. The joint venture will finance, build and operate five schools and an institute of further education located in counties Meath, Carlow, Wicklow and Wexford. The London-listed company said those construction activities alongside its equity interest will mean the project will generate around £190m of revenue for the business. Separately, EUS-Rokstad, a joint venture between Emera Utility Services and Rokstad Power, a business in which Carillion holds a 60% stake, has won a new contract in North America. The venture has been chosen by NSP Maritime Link Inc, a subsidiary of Emera Inc, as the transmission line contractor for its Maritime Link project that will transmit energy from Newfoundland to Nova Scotia and will connect Newfoundland to the North American grid for the first time in history. The joint venture will complete the high voltage direct current transmission line link under the contract, which is worth a total of £86m to the joint venture -

Latest Video

DFSA delegated new powers by DIFC Registrar of Companies

Wednesday, 15 February 2012
DFSA delegated new powers by DIFC Registrar of Companies The Dubai Financial Services Authority (DFSA) has been devolved new powers by the DIFC Registrar of Companies. http://www.ftseglobalmarkets.com/

The Dubai Financial Services Authority (DFSA) has been devolved new powers by the DIFC Registrar of Companies.

The delegated powers include the power to appoint inspectors to investigate the affairs of companies and partnerships, and to pursue enforcement remedies available to the Registrar under the following Dubai International Financial Centre (DIFC) Laws and their associated Regulations (together, the Registrar of Companies Laws (ROC Laws)):

• Companies Law, DIFC Law No 2 of 2009;
• Limited Partnership Law, DIFC Law No 4 of 2006;
• Limited Liability Partnership Law, DIFC Law No 5 of 2004;
• Insolvency Law, DIFC Law No 3 of 2009; and
• General Partnership Law, DIFC Law No 11 of 2004.



The Registrar continues to have the right to exercise the delegated powers in relation to any matter, whether independent of, or concurrently with, the DFSA. However, the Registrar and the DFSA have agreed that the DFSA will investigate contraventions of the ROC Laws for which penalties of AED 36,700 (US $10,000) or more may be imposed. Contraventions, for which lesser penalties may be imposed, will remain the responsibility of the Registrar (though the DFSA may investigate such contraventions if they are ancillary to any DFSA investigation).

The Registrar will continue to administer the registry functions within the DIFC.

 Khalid Al Zarouni, The Registrar explains the move is “in line with our on-going commitment to develop the DIFC’s legal and regulatory framework while leveraging the expertise and best practices of other DIFC bodies. Both the DIFC Registrar of Companies and the DFSA agree that the delegation will result in a more efficient and effective regulation of the ROC Laws.”

Under the delegation, the DFSA will exercise the delegated powers and functions as it deems necessary or desirable in order to carry out inspections and investigations, make directions, procure court orders, impose penalties or take any other regulatory or enforcement action in relation to the ROC Laws.

Related News

Related Articles

Related Blogs

Related Videos

  • Forces shaping the UK pension industry Thursday, 18 October 2012 Forces shaping the UK pension industry
    Rosalind Knowles, partner, Linklaters Pension Practice Group provides the first Keynote Speech at FTSE Global Markets’ Transition Management conference at Gibson…
  • Investing in Russia (Part 1) Friday, 01 July 2011 Investing in Russia (Part 1)
    Mattias Westman, founding partner, Prosperity Capital Management, discusses the key challenges and opportunities of investing in Russia during the Accessing…
  • Russia's derivatives and FX markets Friday, 01 July 2011 Russia's derivatives and FX markets
    Tim Bevan, director, global electronic trading services, Otkritie Securities Ltd discussed the Russian derivatives and FX markets during the Accessing…

Current Issue

TWITTER FEED