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"Many people are surprised to learn that it is not illegal to sell unsafe goods in Australia. Many think there’s already a law that says goods have to be safe. Well, there isn’t, but there should be," says Rod Sims, chairman of the Australian Competition and Consumer Commission.

It's not enough but it's a start. And it's too little, too late. The USA's Federal Reserve Board no doubt hopes that by taking a strong line against two individuals that it can diminish the damage done to Goldman Sachs over its participation in the Malaysian financial case relating to 1MDB. And the fact that it's taken so long for the Fed to act doesn't cast the regulator in an especially good light, either.

BIScom Subsection: 

As we noted yesterday, this newspaper's review of the so-called binding agreement reached with the EU, did not actually prevent the feared lock-in that Leavers want to ensure does not happen. The Attorney-General agreed and when his view was put before Parliament, MPs voted down the supposedly revised deal. Again. That leaves Mrs May to follow Plan X.

MotoGP has, in recent years, had flashes of brilliance but periods of extreme dullness. If the first race of 2019, Qatar, is any guide, that's not going to be the case this season. And there's interest in the lower formulae, too.

CoNet Section: 

In July last year, we said Malaysia needs to review Malaysia Airlines - Boeing deal because of political issues. Now, there's another reason to look at it.

CoNet Section: 

Today is a big day in the UK's parliament. It's a re-run of the so-called "meaningful vote" and it's pretty much the last chance for the UK to avoid leaving the EU without an exit strategy a.k.a. deal although there are plans X,Y and maybe Z to avoid that happening, at least one of which will rely on the co-operation of the EU - or might not, depending on how one views a particular part of the Lisbon Convention.

The weak-side Convertibility Undertaking (CU) of HKD7.85 to USD1 under the Linked Exchange Rate system (LERS) was triggered yesterday during the London and New York trading hours. The HKMA sold US dollars (USD) for Hong Kong dollars (HKD) of HKD1,507 million. The Aggregate Balance will reduce by the corresponding amount to HKD74,802 million on 12 March.

Australian financial services giant AMP and its solicitors Clayton Utz have "surrendered" in their objections to producing notes of meetings which they claimed were subject to legal professional privilege. ASIC's position is simple: it has wide ranging powers to compel the release of documents and it will accept only a narrow and strict definition of legal professional privilege.

CoNet Section: 

Another Boeing has crashed killing everyone on board. Again, it was a new aircraft. Boeing have long had a problem with quality control which regulators have shrugged off or allowed jerry-rigged solutions to be implemented. Why are they allowed to get away with it? Has the airline industry not learned the lessons of the Ford Pinto?

CoNet Section: 

With all the fuss about China's interest in foreign computer systems, it's salutory to note that a suspicious crypto-asset report made at www.GlobalKYC.com demonstrates that the Chinese government's servers are not immune from attack.

CoNet Section: 

The obligation to train staff for e.g. counter-money laundering purposes is hardly a surprise. But, as Nigel Morris-Cotterill says, the training of temporary and agency staff is often overlooked. As this health and safety case shows, that is not acceptable.

FCRO Subsection: 

The Hong Kong Monetary Authority has this afternoon issued a notice relating to a fake website for a bank.

BIScom Subsection: 

How would you feel if your company was fined GBP200,000 and ordered to pay costs of more than GBP17,000 for health and safety issues even though no-one was hurt? Ask Renault.

CoNet Section: 

The elderly have always been easy targets for fraudsters using "I can fix the hole in your roof" or charity, even religious, scams. But the internet is making it easier for fraudsters to be convincing and the internet is making even direct personal contact practically anonymous. Advance fee fraud no longer relies on mail, telex or fax but on e-mail and telephones, tech that the elderly are predisposed to trust. But sometimes, they fight back....

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