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For fans of the personalities, regulations and technology of F1, the first race of the 2019 season was fascinating.

For fans of racing, it was extraordinarily dull.

CoNet Section: 

Case Summary: 

A financial adviser recommended a form of investment to clients but instead of using the money in accordance with the agreed plan he used the money for his own purposes and created fictitious records to show purported performance of their investments. He has been sentenced to ten years' jail. Asset freezing orders against the defendant have preserved sufficient to cover all or most of the losses.

Type of conduct: 
Fiduciary fraud

Parliament has recognised the will of the people and decided that, even if there is a referendum on the terms of the Withdrawal Agreement, such a referendum would not include a "Remain" option. It has also rejected the Prime Minister's motion to delay withdrawal.

I can't claim to have known Charlie Whiting personally but I can say that, like one or two other people over my decades of enjoying Formula One as a spectator, he has been an important figure in my life. And then, suddenly, he's gone, as if someone turned out the lights. This time, they say "gone" not "go."

CoNet Section: 
Charlie Whiting
was born on: 
12 August 1952
at: 
Kent, England
and died on: 
14 March 2019
at: 
Melbourne, Australia

Let's accept for a moment that, good as it is, data from commercial flight-tracking services is not 100% authoritative. But it is certainly extremely persuasive. The data that was made available immediately after the crash of Ethiopian Airways flight 302 showed a remarkable similarity to similar data published after the crash of Lion Air JT610. As more and more countries banned B787 MAX, the FAA supported Boeing. Boeing said "we stand by our aircraft." Then even more compelling evidence of similarity between the crashes emerged.

CoNet Section: 

Here's a good argument in favour of leaving the EU: last night the UK's House of Commons voted against leaving the European Union without a deal in place to ensure an orderly exit. But, they are impotent : whether the UK leaves on 29th March without a negotiated "divorce," is governed by the Lisbon Treaty. And the Lisbon Treaty is superior to British law and, even, the British Parliament.

"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.

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