Monday April 21, 2014 Search
Weather | Athens
19o C
14o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus watchdog asks UK to help with Laiki probe

Cyprus’s securities regulator will ask for assistance from Britain in a probe into transactions ordered by now-defunct Laiki Bank and conducted by Germany’s Commerzbank, it said on Tuesday.

The Cypriot Securities and Exchange Commission (CySEC) is investigating transactions made by Laiki and arranged by Commerzbank after complaints from a local lawmaker that the deals may have broken laws prohibiting a company from purchasing its own stock.

Cypriot lawmaker Irene Charalambides, who filed a complaint to Cypriot authorities and to German’s financial services regulator Bafin, as reported by Reuters last week, alleges Commerzbank sold two structured products that acted as vehicles for Laiki to buy stock in itself and affiliates.

Commerzbank has said it has no indication of any wrongdoing by Commerzbank related to the securities.

The bank declined to comment on Tuesday.

Laiki, once Cyprus’s second-largest bank, was taken into administration and wound down under terms of a 10-billion-euro international financial assistance package to Cyprus in March 2013.

Some 4.3 billion euros in uninsured deposits exceeding the EU threshold of 100,000 was wiped out.

On Monday, Charalambides said she had also asked Britain’s Financial Conduct Authority to assist in the probe because, she said, the structured products were arranged by a Commerzbank branch in the UK.

The FCA had no immediate comment.

[Reuters]

ekathimerini.com , Tuesday Jan 21, 2014 (19:53)  
Eurobank share offering on April 25-29
PPC to issue corporate bond of 500 mln
Primary surplus continued by end-March
Eurobank eyes top Core Tier 1 level in Greece
Coalition aims for surplus boost
The European Commission’s statistical arm, Eurostat is expected to confirm on Wednesday the size of Greece’s 2013 primary budget surplus, which the government hopes will further boost its ar...
One dead and several injured in Easter celebrations
One Cretan man was killed, a man from central Greece suffered hand injuries and an American visiting Santorini was hospitalized in an intensive care unit following over-exuberant Easter cele...
Inside News
BASKETBALL
Greens lose badly as CSKA Moscow
Panathinaikos has a mountain to climb in order to reach the Final Four of the Euroleague after losing at CSKA Moscow on Friday for a second time in two days, only this time it was comprehens...
BASKETBALL
Former Red Bourousis wrecks Olympiakos´s hopes for a break
Olympiakos tried harder in Game 2 of the Euroleague play-offs in Spain, and Real Madrid was not as good on Thursday as in Game 1, but the Spaniards still emerged victorious on the night with...
Inside Sports
COMMENTARY
Unanswered questions
It’s been four years since Greece signed the first memorandum. Back then Prime Minister George Papandreou had come into an explosive situation given that the markets had already predicted th...
EDITORIAL
Avoiding extremes
The best thing that parties and candidates can do for voters in view of the upcoming elections is to avoid extremes and senseless hyperbole. The quality of political discourse in Greece has ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Coalition aims for surplus boost
2. One dead and several injured in Easter celebrations
3. Suspects fire at police in chase
4. Fatal MERS virus carried to Greece from Saudi Arabia
5. Researchers highlight link between cuts and suicides
6. Papoulias marks junta anniversary, says democracy was not a ‘gift’
more news
Today
This Week
1. Police seize 186 kilos of cannabis
2. Man takes own life by jumping off flyover
3. Man arrested over 68,000 packets of contraband cigaretttes
4. City of Athens, Church of Greece hand out Easter Sunday meals
5. Fatal MERS virus carried to Greece from Saudi Arabia
6. Papoulias marks junta anniversary, says democracy was not a ‘gift’
Today
This Week
1. Greece's market return mirrors return of tourists
2. Parties start announcing candidates for European Parliament elections
3. Greece startup leaders say they can’t break jobless cycle alone
4. Ground-breaking Good Friday mass signals thaw in Cyprus
5. IMF's Thomsen says Greece not fully financed to 2016
6. Mayoral candidates clash over Athens mosque plans
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.