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Sung Kook (Bill) HWANG has entered into an agreement - without admitting or denying the allegations - with the USA's Securities and Exchange Commission over the activities of two private funds: Tiger Asia Fund, L.P., and Tiger Asia Overseas Fund, Ltd.

BIScom Subsection: 

The Jakarta Post reports that it has seen a copy of a draft banking Bill which has been "specifically developed to target foreign banks operating here," it says.

BIScom Subsection: 

The USA's Securities and Investment Commission has commenced administrative (i.e. civil) proceedings against Linda Dianne Alexander, a 70 year old living in California, alleging that she has conducted a prime bank investment fraud since 2004 - and in doing so was offering securities despite being unregistered or associated with a registered broker-dealer.

BIScom Subsection: 

An Australian Court is the latest to say that a US headquartered company cannot refuse to produce information as to users who post defamatory statements. This time it's Google's "Blogger" / "Blogspot" service.

CoNet Section: 

When DRB-HiCom took over Proton, there were fears that the bean-counters that descended on Hethel were there to close it down or sell it off. They played their cards close to their chests - but slowly, production numbers began to ramp up, potential purchasers of the company did not wander around the factory, a raft of legal threats (and stupidity) receded as the new management modestly and quietly found out what was wrong, where the money was bleeding from and stopped it and gave the workforce reassurances and support. The next phase is to find new buyers and the first stop after Milan, despite a penal tax rate on foreign cars, is DRB-HiCom / Proton's home: Malaysia.

CoNet Section: 

It's not a Trojan Horse, it's not a dolphin with a limpet mine attached to its back and it's not a rat with a lighted stick of dynamite taped onto its back running into its own oblivion. No, it's cat, coolly walking into a prison, through the main gate, with hacksaw blades, a mobile phone and other contraband held on with clear sticky tape. A break-out Kit-e-Kat (say that in mock Portuspanish and it kind of works)

CoNet Section: 

For all the criticism (mainly from the USA, it has to be said) of China's approach to the internet, there are actually lessons that the anarchic world of the global internet can learn. One is a stellar initiative from the Beijing Police.

CoNet Section: 

It's a dream, a bad dream. I'm standing on a street corner, it's late, it's dark, I know my location but I don't know where I am. There are figures in the shadows. I am not comfortable. I decide to call a cab and I reach into my pocket, pick up my phone, the latest model from a leading manufacturer, click to wake it up - but it's dead. And it's only six hours since I unplugged it from the USB cable that it spends most of its life attached to in the office. It might still be a cellphone, but it's hardly mobile, says Pete Jackson.

CoNet Section: 
Gerry Anderson
was born on: 
14 April 1929
at: 
England
and died on: 
26 December 2012
at: 
Nuffield, Oxon, England

Hot on the heels of Facebook's decision to reduce user's ability to hide their public profile comes the commercial reason why: Facebook is testing a system that will enable non-contacts to send messages to users if they pay USD1. Thanks for the spam but will users be allowed to say "No thanks?" And will FB breach the Can Spam Act and, even, risk the company and its officers being prosecuted for money laundering?

CoNet Section: 

The Australian Securities and Investments Commission "has compulsory information gathering powers to require disclosure of information. This power may be exercised in respect of our regulatory work. However, information that attracts a valid claim of Legal Professional Privilege (LPP) does not have to be provided." ASIC has released an information sheet explaining the position.

CoNet Section: 

Facebook is to remove the facility for users to hide their profile from public searches. And that's not the only change the company is making in its latest round of alterations.

CoNet Section: 

We're going to have to wait for regulatory filings, leaks or careless whispers to find out exactly what's happened. But there's what seems to be good news from the warzone where Apple and HTC have been butting heads.

CoNet Section: 

Internet fraudsters migrate from service to service, using the safety and security provided by anonymous e-mail services. A review of fraudulent accounts at a number of sites has shown that the current favourite is hotmail.com. Nigel Morris-Cotterill, a money laundering risk management strategist, calls for proper policing of free e-mail accounts and domain registrations, saying that the present free-for-all should end.

CoNet Section: 

Given Ferrari's history of stress-testing and even breaking the rules, often with the support of stewards and the FIA, it's a bit rich that they asked the FIA to review the stewards' decision over a pass by Sebastian Vettel on Verne in the Brazilian Grand Prix.

CoNet Section: 

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