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Recent Editions
Risk Channel
North America
The Securities and Exchange Commission (SEC) is preparing a new policy that would allow crypto companies to offer blockchain-based stocks. Crypto sector advocates say blockchain-based instruments that track traditional equities have the potential to revolutionize stock markets by enabling shares to be traded round the clock and settled instantly, boosting liquidity and reducing transaction costs. SEC chair, Paul Atkins, could announce an "innovation exemption" soon, Reuters reports. He has said this would allow companies to experiment with new digital asset business models without needing to comply with all of the SEC's disclosure and investor-protection rules.
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Risk Channel
UK/Europe
A former Nigerian oil minister has been cleared of taking bribes from wealthy oil and gas industry figures seeking lucrative contracts in Nigeria. Diezani Alison-Madueke was found not guilty after a trial at London's Southwark Crown Court of five counts of accepting bribes and a charge of conspiracy to commit bribery. Alison-Madueke was Nigeria's oil minister between 2010 and 2015 and the one-time president of oil cartel Opec. Her acquittal is a blow for the UK's National Crime Agency (NCA), which had been investigating her for 13 years. "This case has exposed just how tough it is to investigate and prosecute alleged corruption involving political elites," said Zainab Saleem from campaign group Spotlight on Corruption. Alison-Madueke's lawyers argued the spending cited by the prosecution was reimbursed, by the Nigerian state for official business or by herself for personal expenses.
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