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Exxon alters top structure following executive sexual assault charges

Since successfully closing the $59.9bn merger with Pioneer Natural Gas, Exxon had its feelers out for a new shale top dog. Cahir, who was at the helm of…

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Since successfully closing the $59.9bn merger with Pioneer Natural Gas, Exxon had its feelers out for a new shale top dog. Cahir, who was at the helm of this segment from July 2020 to April 2022, now steps back into this position from 1 November.

Experts believe this side of Exxon’s business will expand in leaps and bounds in the wake of the Pioneer deal, which significantly amplified the company’s Permian footprint. It will boost shale output to 1.3 million barrels of oil and gas, making up more than a quarter of current total production.

Cahir led Exxon through the tough Covid years and kept the boat afloat in the face of acute cost cuts. Scott appeared in court last week on the second-degree felony sexual assault charge. He did not enter a plea, and no comments were forthcoming from either the accused, his defence attorney, Dan Cogdell, or Exxon.

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The company published its Q3 financial report on 27 October. It reported strong third-quarter earnings of $9.1bn. Exxon also reflected an operating cash flow of $16bn, which constitutes a $3.4bn increase

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UK Government looking to tighten control over cryptocurrency

In the follow-up to this initial paper, the Government indicated it plans to regulate several cryptocurrency dealings according to the same rules used…

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3 mins ago

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October 31, 2023

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In the follow-up to this initial paper, the Government indicated it plans to regulate several cryptocurrency dealings according to the same rules used for banks and financial services companies. UK Financial Services Minister, Andrew Griffith, said:

I am very pleased to present these final proposals for cryptoasset regulation in the UK on behalf of the Government. I look forward to our continued work with the sector in making our vision a reality for the UK as a global hub for cryptoasset technology.

The UK Treasury indicated it plans to put the relevant legislation on the table in 2024. This includes mandating cryptocurrency exchanges to submit details about admission standards and disclosures when listing new assets. These details could possibly include a token’s underlying codes, identified weaknesses, and associated risks.

The move forms part of a broader government plan that aims to attract and align with more digital-based assets and investment options while protecting consumers. It appears authorities are increasingly recognising the need to formally control cryptocurrency ventures.

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The European Union (EU) approved the Market in Cryptoassets (MiCA) regime, which are broad-spectrum measures regulating digital finances, earlier this year. At present, these rules are the best in the market. Seemingly, the UK plans to follow suit. Griffith further commented:

We must make the UK a place where cryptoasset firms have the clarity needed to invest and innovate, and where customers have the protections necessary for confidently using these technologies.

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UK Government looking to tighten control over cryptocurrency

In the follow-up to this initial paper, the Government indicated it plans to regulate several cryptocurrency dealings according to the same rules used…

Published

3 mins ago

on

October 31, 2023

By

In the follow-up to this initial paper, the Government indicated it plans to regulate several cryptocurrency dealings according to the same rules used for banks and financial services companies. UK Financial Services Minister, Andrew Griffith, said:

I am very pleased to present these final proposals for cryptoasset regulation in the UK on behalf of the Government. I look forward to our continued work with the sector in making our vision a reality for the UK as a global hub for cryptoasset technology.

The UK Treasury indicated it plans to put the relevant legislation on the table in 2024. This includes mandating cryptocurrency exchanges to submit details about admission standards and disclosures when listing new assets. These details could possibly include a token’s underlying codes, identified weaknesses, and associated risks.

The move forms part of a broader government plan that aims to attract and align with more digital-based assets and investment options while protecting consumers. It appears authorities are increasingly recognising the need to formally control cryptocurrency ventures.

Don’t miss out the latest news, subscribe to LeapRate’s newsletter

The European Union (EU) approved the Market in Cryptoassets (MiCA) regime, which are broad-spectrum measures regulating digital finances, earlier this year. At present, these rules are the best in the market. Seemingly, the UK plans to follow suit. Griffith further commented:

We must make the UK a place where cryptoasset firms have the clarity needed to invest and innovate, and where customers have the protections necessary for confidently using these technologies.

The post UK Government looking to tighten control over cryptocurrency appeared first on LeapRate.

Read More

Continue Reading

Uncategorized

UK Government looking to tighten control over cryptocurrency

In the follow-up to this initial paper, the Government indicated it plans to regulate several cryptocurrency dealings according to the same rules used…

Published

3 mins ago

on

October 31, 2023

By

In the follow-up to this initial paper, the Government indicated it plans to regulate several cryptocurrency dealings according to the same rules used for banks and financial services companies. UK Financial Services Minister, Andrew Griffith, said:

I am very pleased to present these final proposals for cryptoasset regulation in the UK on behalf of the Government. I look forward to our continued work with the sector in making our vision a reality for the UK as a global hub for cryptoasset technology.

The UK Treasury indicated it plans to put the relevant legislation on the table in 2024. This includes mandating cryptocurrency exchanges to submit details about admission standards and disclosures when listing new assets. These details could possibly include a token’s underlying codes, identified weaknesses, and associated risks.

The move forms part of a broader government plan that aims to attract and align with more digital-based assets and investment options while protecting consumers. It appears authorities are increasingly recognising the need to formally control cryptocurrency ventures.

Don’t miss out the latest news, subscribe to LeapRate’s newsletter

The European Union (EU) approved the Market in Cryptoassets (MiCA) regime, which are broad-spectrum measures regulating digital finances, earlier this year. At present, these rules are the best in the market. Seemingly, the UK plans to follow suit. Griffith further commented:

We must make the UK a place where cryptoasset firms have the clarity needed to invest and innovate, and where customers have the protections necessary for confidently using these technologies.

The post UK Government looking to tighten control over cryptocurrency appeared first on LeapRate.

Read More

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