Band H Lock Wed, 20 Oct 2021 07:11:51 +0000 en-US hourly 1 Band H Lock 32 32 Pfizer has the power to “silence” governments and “maximize profits”, consumer group says Wed, 20 Oct 2021 07:11:51 +0000

COVID-19 vaccine maker Pfizer has been accused of hiding behind a veil of secrecy to profit from the “worst public health crisis” in more than 100 years.

This is the main criticism from Public Citizen, a consumer rights group, which published a report containing leaks of Pfizer contracts with the US, UK, European Commission, Albania, Brazil, Colombia, Chile, Dominican Republic and Peru.

In some of the contracts (some of which were in draft or final form), Pfizer had the power to prevent countries from donating their COVID-19 vaccines to other countries, from unilaterally changing delivery schedules by shortage and demand that public assets be used as collateral.

If there was a dispute, it would not be resolved by a tribunal (a public forum), according to some of the contracts. Instead, they said, any disagreement would be resolved through private arbitration under New York law.

“The contracts offer a rare glimpse of the power a pharmaceutical company has acquired to silence governments, reduce supply, shift risk and maximize profits in the worst public health crisis in a century,” said Zain Rizvi , the author of the report.

Some countries have signed contracts, waiving “immunity against [Pfizer’s] seizure of one of the [their] assets ”, including Brazil, Chile, Colombia and the Dominican Republic.

The Brazilian government has been prohibited from making “any public announcement concerning the existence, purpose or conditions of [the] agreement ”or comment on his relationship with Pfizer, unless he has obtained the prior written consent of the company.

Unclear provisions

Since August, the Australian government has entered into a vaccine exchange agreement with Singapore and Great Britain and has purchased 1 million doses of Pfizer from Poland.

But it’s not clear whether the federal government needed to seek authorization from Pfizer before it could enter into these deals.

It is also not clear whether the government signed a contract stating that Australia would waive its right to avail itself of sovereign immunity if Pfizer made a request for asset seizure (a clause that was in the contracts with several countries).

The ABC asked these questions to the Department of Health.

In an emailed statement, the department said, “Details of the Advance Purchase Agreement (APA) with Pfizer for the purchase of their COVID-19 vaccine are trading with confidence.”

As of Wednesday, 70% of Australians aged 16 and over had been fully vaccinated against COVID-19, a key step in the federal government’s plan to reopen the country.

Prior to that, the government was heavily criticized for the slow rollout of the vaccine and the decision by the health minister’s office not to meet with Pfizer executives until August 4, months after it was first approached by the company.

Documents released under freedom of information laws showed health ministry officials were unwilling to sign a confidentiality agreement before meeting with Pfizer officials because it was “not standard practice “.

There were other reasons for the delay in vaccination, including general reluctance to the vaccine and concerns about the AstraZeneca vaccine and the extremely rare risk of recipients of developing a blood clot.

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The company will be “naturally blamed”

Pfizer closely monitors the supply of its vaccines, even after delivery.

For example, Brazil is not allowed to buy or accept donated Pfizer doses from another country without Pfizer’s approval, nor can it sell, donate or transport its vaccines outside of the country. from the country.

There is a reasonable explanation for this requirement to be included in Pfizer’s contracts, according to University of Queensland biotech and pharmaceutical expert Trent Munro.

“When drug companies release a product, they usually lose control of where it’s stored,” he said.

“If, for example, the vaccine is damaged or does not work properly, the responsibility will fall on the company. They would naturally be blamed even if they do not control the distribution.”

Even when a country has ordered vaccines from Pfizer and is waiting for them to arrive, the company has the power to change the vaccine delivery schedule, without consulting the country or incurring a penalty. This term appears in its contracts with Albania, Brazil and Colombia.

The contracts that Brazil, Chile, Colombia and the Dominican Republic signed were broad enough to cover situations where they could not invoke sovereign immunity if they violated the agreement and Pfizer wanted to go after it. their public assets.

These nations have pledged to “expressly and irrevocably waive any right of immunity that it or its assets may have or acquire in the future.”

Public Citizen also said it has reviewed contracts in which governments were to “indemnify, defend and hold Pfizer harmless from and against all lawsuits, claims, actions, demands, damages, costs and expenses related to vaccine intellectual property.”

Pfizer has been contacted for comment.

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What is the Dark Web Ransomware Marketplace? Tue, 19 Oct 2021 22:30:18 +0000

Editor’s Note: Unlock the knowledge, resources, and expert advice you need to successfully prevent ransomware attacks from impacting your organization’s operations with this free Ransomware Toolkit…

The theme for Week 3 of Cyber ​​Security Awareness Month 2021 is “Explore. To live. Share. ”This is also Cyber ​​Security Career Awareness Week. The purpose of the theme is to highlight all of the many contributions that people in cybersecurity roles can make to society through their work.

One of the ways people in cybersecurity can benefit society is by investigating the use of the dark web by ransomware actors. We will see how these malicious actors use the dark web later in this article. But first, let’s contextualize the dark web itself.

What is the Dark Web?

To understand the dark web, it is important to understand the difference between what is called the “surface web” and the “deep web”. The first is what we all know to be the part of the internet that is accessible through the major search engines. Netflix, Facebook, and anything that appears on a Google search results page falls into this category.

However, the surface web only makes up about 0.03% of the internet. The rest is on the deep web, or the part of the internet not indexed by search engines like Google. According to the Encyclopedia Britannica, the Deep Web includes benign sites such as users’ password-protected email accounts and other web pages that can only be accessed through an online form. It also includes other resources that the owners have intentionally prevented web crawlers from indexing.

The dark web belongs to the latter category. It’s a part of the deep web that visitors can’t access without the help of a special browser called The Onion Router (or TOR). People can use the dark web for legitimate purposes, like joining a chess club and creating a private communication channel, notes CSO. Alternatively, they can use it for malicious purposes.

At least some of this activity takes place in dark web markets (or “dark markets”). According to Nature, Dark Markets are places where members can trade illicit goods such as drugs and weapons. As such, these marketplaces allow digital attackers to connect with each other anonymously to buy and sell stolen credit card information, for example, or provide access to a new phishing kit- as-a-service.

All transactions typically involve bitcoin or some other form of cryptocurrency as the method of payment. This is designed to help conceal the identity of anyone involved in a given transaction.

Ransomware Services on the Dark Web

When it comes to ransomware, Dark Market members typically promote Ransomware-as-a-Service (RaaS) operations. Cybersecurity Ventures clarified that malicious actors post advertisements highlighting different ransomware kits and their different levels of service. An ad might mention a discounted set of multiple digital crime kits, for example. Another can display positive user reviews from a single RaaS operation.

Popularity, functionality, and bundled items are just a few of the factors that help influence the cost of a ransomware offering. CPO Magazine wrote that some ransomware sells or leases access for as little as $ 5. In contrast, more established varieties can cost $ 100 or more.

In the context of these black market advertisements, ransomware developers have traditionally sought to recruit affiliates with RaaS schemes. But that changed after the colonial pipeline attack. As reported by KrebsonSecurity at the time, administrators of the Russian Digital Crime Forum XSS banned individuals from discussing ransomware around the same time the DarkSide ransomware affiliate program went offline. Two more digital crime forums followed shortly thereafter, as The Record pointed out.

Some ransomware players have therefore changed their tactics so that they can continue to engage in dark markets. In particular, Flashpoint has witnessed a shift towards advertising and working with Initial Access Brokers (IABs) in dark markets. This change allows ransomware players to quietly advertise their activities on the dark web. It also allows them to focus on perfecting their malware payloads instead of having to worry about accessing their target’s networks.

Cybereason’s advantage over ransomware

The best strategy for organizations is to prevent a ransomware attack from succeeding in the first place. To do this, they need to invest in a layered solution that leverages behavioral indicators (BIOs) to detect and prevent a ransomware attack in the early stages of initial entry, before sensitive data is exfiltrated for double extortion.

The Cybereason Operation-Centric approach provides the ability to detect ransomware attacks earlier based on rare or beneficial chains of malicious behavior. That’s why Cybereason is undefeated in the battle against ransomware and offers the best prevention, detection and response capabilities on the market, including:

    • Anti-ransomware and deception: Cybereason uses a combination of behavioral detections and proprietary deception techniques to detect the most complex ransomware threats and end the attack before critical data can be encrypted.
    • Intelligence-based antivirus: Cybereason blocks known variants of ransomware by leveraging an ever-growing pool of threat information based on previously detected attacks.
    • NGAV: Cybereason NGAV is powered by machine learning and recognizes malicious components in code to block unknown ransomware variants before execution.
    • Fileless Ransomware Protection: Cybereason disrupts attacks using fileless, MBR-based ransomware that traditional antivirus tools lack.
    • Endpoint controls: Cybereason strengthens endpoints against attacks by managing security policies, maintaining device controls, implementing personal firewalls, and enforcing full disk encryption on a range of device types, fixed and mobile .
    • Protection of behavioral documents: Cybereason detects and blocks ransomware hidden in the most common business document formats, including those that exploit malicious macros and other stealth attack vectors.

Cybereason is committed to teaming up with advocates to stop cyber attacks from endpoints across the enterprise and everywhere, including modern ransomware. Learn more about ransomware defense here Where schedule a demo today to find out how your organization can benefit from a operations-centric approach to security.

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Facebook settles charges of employment discrimination Tue, 19 Oct 2021 19:54:28 +0000

Facebook Inc. will pay up to $ 14.25 million to resolve a US Department of Justice lawsuit that accused the social media company of dissuading American workers from applying for certain positions in favor of foreign candidates, it said. Tuesday the ministry.

Separately, the US Department of Labor said it had reached a related settlement with the company.

The DOJ said the settlement resolves a December 2020 lawsuit that alleged that from at least January 1, 2018 until at least September 18, 2019, Facebook regularly reserved jobs for temporary visa holders through the “permanent work certificate program. “. Critics said visa law made it too easy to replace American workers with cheaper foreign workers.

The lawsuit alleged that contrary to its standard recruiting practices, Facebook’s recruiting methods were designed to deter American workers from applying for certain positions, such as requiring that applications be submitted by mail only, refusing to consider workers. Americans who applied for the positions and only hire temporary visa holders.

The department accused the company of deliberately discriminating against American workers based on their citizenship or immigrant status in violation of immigration and nationality law.

The prize consists of a civil fine of $ 4.75 million and up to $ 9.5 million to be paid to eligible victims of Facebook’s alleged discrimination, the department said.

Facebook did not respond to a request for comment.

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ICICI Prudential Mutual Fund Launches Consumer-Focused ETF Tue, 19 Oct 2021 07:58:52 +0000

NEW DELHI : Asset management company ICICI Prudential Mutual Fund has launched an exchange traded index fund that tracks the Nifty India consumer index.

The ICICI Prudential Consumption ETF, which will close underwriting on October 25, will seek to provide exposure to a diverse portfolio of companies representing domestic consumption. Kayzad Eghlim and Nishit Patel would be the fund managers of the program.

According to India’s second largest asset manager, India’s population is steadily increasing year by year, which will increase consumption levels in every household thereby improving and strengthening the consumer sector.

The minimum investment during the New Fund Offer Period (NFO) is ??1,000 and in multiples of ??1, then, with zero output load.

Speaking on the launch, Chintan Haria, Head of Product Development and Strategy, ICICI Prudential AMC said: to all age groups. With India being one of the fastest growing economies, there is enormous potential for growth in the domestic and industrial consumption segments. An investor may view this offer as part of his equity allocation. “

In a statement, the company pointed out that in terms of return potential, the Nifty India Consumption Total Return Index (TRI) outperformed the Nifty50 TRI four out of eight times through 2020.

The Nifty India Consumer Index is designed to reflect the behavior and performance of a diversified portfolio of companies representing the domestic consumer sector which includes sectors such as non-durable consumer goods, healthcare, automotive , telecommunications services, pharmaceuticals, hotels, media and entertainment, etc. .

In terms of sector composition, consumer goods were the most represented at 57.91% in The Nifty India consumer index, followed by automobiles at 17.06% and consumer services at 9.49% , to September 30.

Hindustan Unilever Ltd had the highest component weight at 10.16%, followed by ITC Ltd at 10.08%, Bharti Airtel Ltd. 9.24%, Asian Paints 8.32% and Maruti Suzuki India Ltd. at 5.55%.

Consumption as a theme has hardly been affected by the covid-19-induced economic downturn over the past 18 months.

To capture this theme, SBI Mutual Fund launched SBI Consumption ETF in July, while Axis Mutual Fund in September launched Axis Consumption ETF. These two funds are based on the Nifty India consumer index.

Nippon India Mutual Fund owns one of the first consumer-themed ETFs which was launched in 2014. The fund with assets of ??26 crore generated returns of 51.47%, 19.07%, 15.25% and 14.35% over one, three, five and seven years, respectively.

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U.S. regulatory considerations for digital health Mon, 18 Oct 2021 21:57:07 +0000

This final article in our four-part series examines other relevant laws that digital healthcare providers and providers should be aware of.


When businesses tell consumers they’ll protect their personal information, the Federal Trade Commission (FTC) can act and make sure businesses keep their promises. The FTC has taken legal action against organizations that have violated consumers’ privacy rights, misled them by failing to ensure the safety of sensitive consumer information, or caused substantial harm to consumers. In many cases, the FTC has accused defendants of breaking laws relating to unfair and deceptive business practices.

As a recent example, a developer of a popular female fertility tracker app resolved the FTC’s claims that it misled consumers about disclosing consumer health data. Under the proposed regulation, the developer is prohibited from distorting: 1) the purposes for which he or the entities to which he discloses data collect, store, use or disclose the data; 2) to what extent can consumers control these uses of data? 3) its compliance with any privacy, security or compliance program; and 4) how it collects, stores, uses, discloses, deletes or protects users’ personal information. In addition, the developer must notify the affected users of the disclosure of their personal information and request any third party who has received information about the health of the users to destroy this data.1

In addition, the FTC also enforces federal laws relating to consumer privacy and safety.2 Specifically, the FTC’s health breach notification rule requires a personal health record (PHR) provider or DSP-related entity to notify affected consumers, the FTC, and in some cases, media of a breach of unsecured personal health information. Service providers and PHR related entities must also notify these PHR providers in the event of a violation. The FTC defines PHR as an electronic record of identifiable health information about an individual from multiple sources that is managed, shared, and controlled by or primarily for the individual.3 A company is a PHR provider if it offers or maintains a PHR. An example of a PHR provider is a business with an online service that allows consumers to store or organize medical information from many sources in one online location.4

A PHR provider that is not a HIPAA Covered Entity is not required to be HIPAA Compliant. Thus, PHR providers are not subject to the HIPAA violation notification rule, but are governed by the FTC health violation notification rule.5 The FTC recognizes scenarios in which an entity is a HIPAA Business Associate and subsequently offers PHR services to the public. Such an entity would be subject to both the HIPAA and FTC violation notification rules. The fact model is limited and does not address a situation where the customers of the PHR provider and the covered entity are the same group of people. However, in the event that a PHR provider has a direct relationship with all those affected by a violation of HIPAA, one entity could contract with the other to provide notification to those affected.6


The delivery of health care services in the United States through telemedicine or telehealth is generally regulated by state medical boards, state by state. Licensure requirements may vary depending on the location of the patient or health care provider. Before the Covid-19 pandemic, most states, as well as the District of Columbia, Puerto Rico and the Virgin Islands, required physicians practicing telemedicine to be licensed in the state in which the patient is located. Regarding the Covid-19 public health emergency, twelve state councils have issued a special-use license, a telemedicine license or certificate, or a license to practice medicine across the borders of the United States. State regarding the practice of telemedicine and six states required physicians to register, as opposed to to obtain a license, if they wanted to practice across state lines.7

Many of these requirements were changed during the pandemic to rapidly scale large telehealth platforms to provide remote care during quarantine periods and in response to other pandemic-related demands. As a result, more and more states allow doctors providing health services to state residents to be licensed in neighboring states or other states. Some have taken the approach of providing an accelerated license to practice or relinquishing a license to practice for a temporary license for special needs. What is not clear, however, is how these states will pivot after the public health emergency is no longer in effect, and whether federal regulators could consider a federal approach to avoid the patchwork of state laws. and licensing regulations affect how telemedicine and telehealth services are implemented and at scale.

In addition to state licensing laws, there are also consent, medical record, pharmacy, physician order, and privacy considerations related to telemedicine services. Additionally, reimbursement for telehealth services for beneficiaries of federal health programs, such as Medicare, is governed by the Centers for Medicare and Medicaid Services, which historically have reimbursed only limited visits to remote areas where the one or both parties were physically in an acute care facility. Commercial payers, such as private and employer-sponsored health plans, govern reimbursement for private paying patients, and each has their own set of reimbursement requirements and schedules.

As a result, any company seeking to develop or expand its telemedicine presence in the United States will need to conduct a state-by-state analysis of specific regulatory requirements and will require federal reimbursement expertise and an understanding of the impact of contracts of commercial payers on reimbursement. for private paying patients. More importantly, such a business may need a crystal ball, as it is unclear how state and federal regulators will approach these issues once the public health emergency of Covid-19 is no longer in effect. .


Federal and state anti-kickback laws (for example, the federal anti-kickback law8) regulate business relationships in the health, pharmaceutical and medical device sectors, prohibiting natural or legal persons from requesting or receiving remuneration in exchange for referrals from health care program activities. Federal and state laws on physician self-referral (for example, the Stark Law9) generally prohibit health care providers from referring designated health services (DHS) to entities with which natural or legal persons have a direct or indirect financial relationship, with some exceptions.

The misrepresentation lawten imposes criminal penalties on any person or organization who knowingly makes a false record or makes a false statement regarding any federal health program, whether directly or indirectly. In addition, federal Social Security law imposes CMPs or excludes from Medicare and Medicaid programs physicians and other health care providers who commit various forms of fraud and abuse involving Medicare and Medicaid.

Under these federal and state laws, certain practices that encourage use and profitability and otherwise remunerate referrals are inadmissible and could subject known actors to civil or criminal penalties. Therefore, the types of business arrangements and negotiations that are common in other industries may be illegal in the healthcare industry, where goods or services are reimbursed by the federal government or third party payers. To the extent that companies aspire to provide goods or services to health care providers or directly to patients, when health care is reimbursed by federal health programs and commercial payers, these companies and their contracts and agreements Businesses will need a full understanding of applicable healthcare fraud and abuse. before doing business.


Digital health in the United States, like traditional healthcare, is governed by a variety of complicated and ever-changing regulations, especially during and after the Covid-19 public health emergency. Non-U.S. Based businesses must understand how to navigate these complex regulations at every stage of their business development, and nuanced and knowledgeable legal representation to understand the practical application of these regulations is essential for success in the U.S. market.




3 See

4 Identifier.

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7 https: // …

8 42 USC § 1320a-7b.

9 42 USC § 1395nn.

ten 31 USC §§ 3729-3733.

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Johnson of UK pays tribute to ‘dedicated and passionate’ lawmaker Amess Mon, 18 Oct 2021 17:06:00 +0000
  • Lawmakers pay tribute to his kindness, his sense of humor
  • Attack raises security questions for lawmakers
  • 25-year-old suspect police questionnaire

LONDON, Oct. 18 (Reuters) – British Prime Minister Boris Johnson paid tribute on Monday to “devoted and passionate” David Amess, a veteran lawmaker stabbed to death as he met members of the public in an attack that heightened concerns about the safety of politicians.

Amess, 69, was stabbed in a church on Friday in Leigh-on-Sea, east London. There, police arrested the 25-year-old son of a former media adviser to a former Somali prime minister. He remains in detention.

They are treating the attack, which Johnson described as a “despicable act of violence”, as potential terrorism.

Amess was the second UK lawmaker to be killed in five years and lawmakers from all walks of life, some fighting back tears, paid tribute to a man they described as a kind, funny and dedicated public servant.

“We will not allow the way Sir David died to undermine his achievements as a politician or as a human being,” Johnson, wearing a black tie, told a House of Commons crowded, who had previously observed a minute of silence.

“David was a patriot who believed passionately in this country, in its people, in its future. He was also one of the nicest, kindest, sweetest individuals to ever grace these benches.”

To cheers, Johnson announced that the town of Southend-on-Sea, in the constituency of Amess, would become a town in his honor, a cause he had championed.

After two hours of tributes in parliament, lawmakers will attend a memorial service at St. Margaret’s Church for the father of five, who had been an MP for nearly 40 years.

“There are tears all around the house this afternoon,” said opposition Labor MP Harriet Harman, the longest-serving Member of Parliament.

Amess’ family, who attended the scene of his murder, said he was a patriot and a man of peace.

“So we ask people to put aside their differences and show kindness and love to everyone. This is the only way to go. Put aside hatred and work for unity,” they said. they stated.

Many colleagues recalled the times Amess made them laugh, including how the devoted Catholic once had a boiled candy blessed by the Pope after he scooped it out of his pocket as just the wrong time.

Candles and a portrait of British MP David Amess, who was stabbed to death during a meeting with voters, are seen at St Michael’s and all Angels Church in Leigh-on-Sea, Britain, October 17, 2021. REUTERS / Chris Radburn

“The Pope took the candy thinking it was a revered object to be blessed, blessed the revered object and David had to put it in his pocket, a holy candy,” said lawmaker James Duddridge.


Amess’s murder has raised questions about the safety of politicians and what should be done to address the growing problem of online abuse.

“Today is a time to remember David, but in the days and weeks to come, we must finally address the threats and violence people face while implementing democracy in this country “said Labor leader Keir Starmer.

“A cowardly attack on a public servant doing their job is an attack on our country and our way of life… our response must always be to show that we will never be intimidated.”

Johnson’s spokesperson said Members of Parliament have been contacted by police to review security.

Detectives are questioning suspect Ali Harbi Ali, a British national, under anti-terrorism laws, looking for a possible link to Islamist extremism. Agents also search for properties in and around London.

Ali had been referred to an anti-radicalization program known as Prevent, the BBC said. But it was not formally of interest to the internal security agency MI5.

Amess was also chairman of the all-party committee that promoted good relations between Britain and Qatar, and The Times newspaper said detectives were investigating the link. Amess visited Qatar last week.

Police warned of the danger the COVID-19 pandemic posed in terms of radicalization, as vulnerable people were spending more time online, potentially exposed to extremist material.

Labor lawmaker Chris Bryant said he received a death threat after urging people to share “a kind message on Twitter today to a politician we disagree with” after the murder of A mess.

Police arrested a 76-year-old man on suspicion of malicious communications.

“Let’s have nicer language. Let’s have our differences, and that’s important … but what I don’t want is hate and meanness,” Lindsay Hoyle, Speaker of the House of Commons, told Sky. “Today is a starting point where we can change the face of politics.”

Elizabeth Piper Additional Reports; edited by Guy Faulconbridge, Ed Osmond, Angus MacSwan and Giles Elgood

Our Standards: Thomson Reuters Trust Principles.

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Slemp Brant Saunders Insurance Agency offers comprehensive insurance for small businesses in Wytheville and Abingdon, VA Mon, 18 Oct 2021 15:52:28 +0000

Slemp Brant Saunders insurance agency offers premium insurance plans for small businesses.

This press release was originally issued by Release the thread

Marion, Virginia – (Release the thread) – 10/18/2021 – Slemp Brant Saunders Insurance Agency is a well-established company that offers a wide range of insurance coverage options for families and businesses in Southwest Virginia. With them, people can easily invest in affordable plans for auto, business, agriculture and auto insurance in Chilhowie and Wytheville, Virginia.

While all business owners should invest in business risk management solutions, sometimes such coverage can seem overly complicated. From insuring their business against fire to employee injuries, it often seems that the myriad of risks are far too great to identify when trying to purchase business insurance. To simplify this process, one can always invest in a Business Owners Package policy, commonly known as a “BOP”. This package contains most of the types of coverage options that small businesses need. A basic plan would cover business property protection for building and contents and liability insurance protection. Even though BOP plans are not standard and their details may differ from insurer to insurer, they do have some common elements. Most of these plans provide business income and additional expense protection after an insured loss. Be among the reliable small business insurance providers in Wytheville and Abingdon, Virginia, Slemp Brant Saunders Insurance Agency can be the perfect source to invest in a BOP plan.

Slemp Brant Saunders Insurance Agency also offers premium commercial property insurance to its business customers. These plans cover the business building as well as the business owned content. When it comes to these insurance policies, “property” can include various types of structures and items such as computers, servers and electronics, as well as money and valuables. .

Contact Slemp Brant Saunders Insurance Agency at 276-783-5146 to better understand insurance coverage options.

About Slemp Brant Saunders Insurance Agency
Slemp Brant Saunders Insurance Agency has been providing insurance solutions to people in Marion, Glade Spring, Abingdon, Wytheville, Chilhowie, Bristol and surrounding areas for many years.

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Appeals court delays CFPB’s Trump-era payday loan rule Mon, 18 Oct 2021 15:51:00 +0000

WASHINGTON – An appeals court has approved the postponement of the implementation of the Consumer Financial Protection Bureau’s payday loan rule, a victory for low dollar lenders who have challenged the rule’s restrictions on access to consumer bank accounts.

In an Oct. 14 ruling, the U.S. Court of Appeals for the Fifth Circuit sided with payday and auto title lenders, determining that they did not have to comply with the CFPB rule. which is expected to come into effect in June while the Community Financial Services Association of America and the Consumer Service Alliance of Texas are appealing an earlier court ruling that ruled in favor of the CFPB.

This is a provision of the CFPB Payday Loan Rule that limits the ability of lenders to withdraw funds from a consumer’s bank account after two consecutive unsuccessful attempts, unless the consumer consents to other withdrawals. Under the rule, lenders will also be required to provide consumers with written notice before making their first payment withdrawal attempt from a bank account.

In August, a U.S. District Court judge for the Western District of Texas dismissed the industry groups challenging the rule and dismissed their motion to delay the rule’s effective date while they appealed against the rule. her decision. But the Fifth Circuit overturned that ruling, allowing the payday loan rule to remain on hiatus until the appeal process was completed.

Last year, under the leadership of former CFPB director Kathy Kraninger, the agency finalized a rule eliminating limits on payday lenders, providing long-awaited regulatory relief to the small-scale lending industry. dollar. This rule rescinded underwriting requirements that had been imposed in a 2017 regulation under former CFPB director Richard Cordray. Payday lenders have been pushing hard to repeal the 2017 rule because it would have wiped out more than half of the income of lenders who offer loans of 45 days or less.

But the Kraninger-era rule preserved the original rule’s limits on the ability of payday lenders to access bank accounts, drawing the ire of low dollar lenders. Dave Uejio, who served as CFPB’s interim director until Rohit Chopra was recently confirmed as the agency’s permanent director, had signaled that the CFPB would seek to overturn Kraninger’s rule and restore the original 2017 regulations.

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Is Ataa Educational Company (TADAWUL: 4292) popular among initiates? Mon, 18 Oct 2021 03:18:48 +0000

A look at the shareholders of Ataa Educational Company (TADAWUL: 4292) can tell us which group is more powerful. Large companies usually have institutions as shareholders, and we usually see insiders holding shares in smaller companies. Warren Buffett said he enjoys “a business with sustainable competitive advantages that is led by skilled, owner-oriented people.” So it’s nice to see some insider ownership as it may suggest that the management is owner-driven.

With a market capitalization of ر, س 2.7b, Ataa Educational is a small cap stock, so it might not be well known to many institutional investors. In the table below, we can see that the institutions are not entered in the share register. We can zoom in on the different ownership groups, to find out more about Ataa Educational.

Check out our latest analysis for Ataa Educational

SASE: 4,292 Ownership breakdown October 18, 2021

What does the lack of institutional ownership tell us about Ataa Educational?

Institutional investors often avoid companies that are too small, too illiquid or too risky for their liking. But it is unusual to see large companies without any institutional investor.

There can be various reasons why no institution owns shares in a company. Typically, small, newly listed companies do not attract much attention from fund managers, as it would not be possible for large fund managers to forge a meaningful position in the company. It is also possible that the fund managers do not own the stock because they are not convinced that it will perform well. Institutional investors may not find the company’s historical growth impressive, or there may be other factors at play. You can see for yourself the past earnings performance of Ataa Educational below.

profit and revenue growth
SASE: 4292 Growth in profit and revenue on October 18, 2021

We note that the hedge funds do not have a significant investment in Ataa Educational. Advanced National Creativity Trading Company is currently the largest shareholder in the company with 20% of the shares outstanding. For context, the second shareholder owns around 20% of the outstanding shares, followed by 15% ownership by the third shareholder.

To make our study more interesting, we found that the top 3 shareholders have a controlling stake in the company, which means that they are powerful enough to influence the decisions of the company.

While it makes sense to study a company’s institutional ownership data, it also makes sense to study analysts’ sentiments to know which way the wind is blowing. The title is covered by analysts, but it could become even more famous over time.

Insider property of Ataa Educational

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The management of the company is accountable to the board of directors and the board must represent the interests of the shareholders. Notably, sometimes senior executives themselves sit on the board of directors.

Insider ownership is positive when it indicates that executives think like the real owners of the company. However, strong insider ownership can also confer immense power on a small group within the company. This can be negative in certain circumstances.

Our information suggests that insiders have a significant stake in Ataa Educational Company. Insiders have a 535 million yen stake in the 2.7 billion yen company. This may suggest that the founders still own a lot of shares. You can click here to see if they bought or sold.

General public property

The general public, with a 41% stake in the company, will not be easily ignored. While this group cannot necessarily take the lead, it can certainly have a real influence on how the business is run.

Owned by a private company

We note that private companies hold 40% of the issued shares. It is difficult to draw conclusions from this fact alone, so it is worth considering who owns these private companies. Sometimes insiders or other related parties have an interest in shares of a public company through a separate private company.

Next steps:

I find it very interesting to see who exactly owns a company. But to really get an overview, we have to take other information into account as well. Example: we have spotted 2 warning signs for Ataa Educational you must be aware.

But finally it’s the future, not the past, which will determine how well the owners of this business fare. Therefore, we believe it is advisable to take a look at this free report showing whether analysts are predicting a better future.

NB: The figures in this article are calculated from data for the last twelve months, which refer to the 12-month period ending on the last date of the month of date of the financial statement. This may not be consistent with the figures in the annual report for the entire year.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts using only unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative documents. Simply Wall St has no position in the mentioned stocks.

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Ecommerce businesses need to reimburse their customers Sun, 17 Oct 2021 18:00:00 +0000

We are concerned about the government’s handling of the issue of e-commerce scams. Its efforts are mainly limited to preventing possible inconvenience in the future, when tens of thousands of customers and traders have yet to secure compensation from the government. So far, we have not seen any visible government initiative to recover money from e-commerce companies to reimburse victims. While the Commerce Department says there is little scope for them to get the money back under our law, according to legal experts the department can form a board or appoint directors to run the stray businesses that will work. to refund money to customers and sellers.

The Ministry of Commerce has reportedly formed three committees and issued standard operating procedures with the aim of stopping future fraudulent activities of e-commerce platforms and protecting the interests of consumers and traders. The question is: will this be enough? Shouldn’t the government come up with specific plans to recover the funds either?

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The government reportedly intends to assign agencies such as the National Board of Revenue and the Bangladesh Bank to find ways to recover the money from these fraudulent e-commerce companies. We believe that the sooner they do this, the better it will be for victims, especially since delayed action may not stem the threat of money laundering abroad.

Recently, the National Directorate for the Protection of Consumer Rights (DNCRP) fined 17 e-commerce companies for not delivering products as promised and also for deceiving customers with fake ads. Unfortunately, they couldn’t impose fines on big companies like Evaly, E-orange and Dhamaka Shopping due to certain limitations in our law – the DNCRP can impose a maximum fine of Tk 50,000 and jail offenders for a year. maximum, or both. And that meager amount of fine or jail is just not enough for these big fraudulent companies. It is therefore urgent to make changes to the law.

Some of the consumers are said to have filed complaints against Evaly, E-orange and other companies and are waiting for the court directive to get their lost money back. While the court will render its decision in due course, the government should also focus more on recovering the money so that consumers and traders can be adequately compensated. Recovering money may still be possible by tracking transactions from consumers and merchants to e-commerce companies, experts say. The government should consider doing this.

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