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BERLIN (Dow Jones) – The Federal Finance and the Federal Ministry of Economics have agreed to revise the investor protection. (Photo : Anders)

According to rules submitted to the so- called gray capital in a separate bill under the leadership of both houses in the fourth quarter and the remaining parts of the Investor Protection Act will be brought as soon as possible on the way to a letter from the Economic Secretary Bernhard Heitzer in financial Secretary Jörg Asmussen showing in the Dow Jones Newswires on Wednesday had an insight .
The active on the marketer of financial products should therefore remain under the Labour and not the Federal Financial Supervisory Authority ( BaFin ). It is envisaged , however, strict requirements specify the agents who sell such shares in closed funds.
"In addition to the introduction of a certificate of competence and professional indemnity insurance as a permission requirement to the investor protection provisions of the 6th section of the Securities Trading Act (Information , advice and documentation requirements ) material, one -on-one to be included in a trade legal regulation , "it says in the letter . Moreover, it is therefore in general give a stronger regulation of the product of closed funds.
The Central Credit Committee (ZKA ) of the German banking industry welcomed on Wednesday that parts of the horror of capital should be subject to more stringent requirements , however, was still " needs improvement " in the supervision of intermediaries. "Not enough closed by the Federal Ministry of intermediaries favored registry fund only after the Industrial Code ", the ZKA complained in a statement in Berlin.
The objective of a common level of protection for investors could be better achieved through a nationally focused supervision with ongoing supervision by the BaFin ’s view of the banking industry . True is, however , also for private funds to apply the comprehensive material specifications of the Securities Act.
Federal Minister Rainer Brüderle (FDP ) had previously fought against original plans by Federal Finance Minister Wolfgang Schäuble ( CDU), assume the financial advisor on terror capital in the future of financial supervision.

- By Andreas Kissler , Dow Jones Newswires
+49 (0)30 – 2888 4118, andreas.kissler @ dowjones.com
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NEW DELHI (Dow Jones) – The Indian iron ore exports could in the current fiscal year ( ended March 31, 2011) to go back over a fifth.

The reason for this was the closure of mines in the state of Karnataka, said DV Pichamuthu , director of the Federation of Indian Minerals Industries. There have in the past ten to twelve months of a total of 60-70 closed mines. As justification, the Director of the Association of stricter regulation of iron ore shipments, with the attempts by the Government of Karnataka, to prevent the operation of illegal mines. To that end, last month, and the export of iron ore in ten smaller ports was forbidden. Pichamuthu iron ore exports , according to the state have come completely to a halt. To date, Karnataka resulted from some 30 million tons of iron ore per year , representing about one quarter of Indian supplies. " India’s exports will fall by at least 25 million tonnes , "said SBS Chauhan, an advisor to the Association. The country will this year not even 100 million tons of iron ore export . Further reflects the fact that iron ore exports were higher than the main port of Karnataka with 800,000 tonnes in the period from April to July to 74% lower than in the prior-year period, then were exported 3.1 million tonnes.

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BERLIN (Dow Jones) – The Association of Insolvency (VID ) sees the reduced number of corporate insolvencies in June, still no sign of sustained recovery . ( Reuters photo

"Even if the situation especially for large companies and the automotive industry brightens : For a large part of the company ’s economic situation remains very tense , "the VID- chairman Siegfried Beck on Wednesday.

Especially small and medium enterprises, especially in services and trade, often stood with their backs to the wall. Compared with these companies , the banks in lending are still extremely cautious. The receivers also observed in practice that the investor interest in collecting solutions below the threshold of 20 million EUR turnover was still very reserved.
The number of corporate insolvencies in Germany fell in June by the Federal Statistical Office of the year was , however, was in the first half of 2010 more than a year earlier. In June the number was down year on year by 1.3 % to 2752 cases , Destatis said . Total reported by the German local courts in June 14 377 insolvency cases , which were 5.3% more than last year. In other borrowers accounted for 11 625 cases , of which 9297 in turn to consumers.
In the first half of 2010 , the number of insolvencies stood at 16,468 cases by 2.0 % over the previous year. Overall, the number of insolvencies in the first six months rose 7.2% to 84 502 cases. In other borrowers accounted for 68 034 cases ( up 8.5 % ), the Verbaucherinsolvenzen increased with an increase of 11.6% to 53 864 cases at most.
The estimated outstanding claims of creditors amounted to the first half , according to the courts to EUR 21.2 billion compared to EUR 24.4 billion in the first half of 2009.
Web sites:
www.vid.de
www.destatis.de
- By Beate Preuschoff , Dow Jones Newswires , +49 ( 0) 30-2888 4122 ,
beate.preuschoff @ dowjones.com
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LONDON (Dow Jones ) – British industrial output rose in July after a decline in the previous month . How National Statistics announced on Wednesday, the production increased by 0.3 % in a single month and the year was 1.9 %. (Photo ops

The growth rates were so behind the expectations of the returns of Dow Jones Newswires surveyed economists. After surprisingly weak figures on industrial production in the previous month for July, economists on average an increase of 0.5 % in a single month and 2.1 % for the year as had been predicted.
This put the production in the manufacturing sector in July , as expected strong. Compared to the previous month was found here , an increase of 0.3 %. Compared with the previous year, production increased in this segment with a gain of 4.9 % as strong not seen since December 1994.

Website: www.statistics.gov.uk

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NEW YORK (Dow Jones) – The outlook for the ratings of the reinsurer remains negative. This is followed will be in the near future to change anything , wrote Moody ’s Investors Service and justified this by saying that the basic conditions to deteriorate over the next 12-18 months, rather than improve .

The report "Global Reinsurance Outlook " Moody’s points to weaker pricing , excess capacity and low investment returns. These factors were considered in the ratings and views of individual companies already .
2009, the carrying amount of the reinsurer thanks to the recovery in capital markets and the increased demands had increased due to disasters . The balance sheets were ever since , despite higher losses this year – Earthquake in Chile, the oil platform explosion Deepwater Horizon – strong. At the same time , demand is in the context of sluggish economic growth, weak.
The overcapacity in the industry should lead to increased price pressure expected Vice President Senior Credit Officer James Eck. In the renewals prices were mostly falling. Of these, the profitability could be affected. Thanks to favorable markets for fixed income products , the profitability has been well kept. But should the profit margins come under increasing pressure to fall partly because the investment income.
Too much capacity is not necessarily the same as too much capital , notes the analyst. Share buy-backs have kept the level of excess capacity in check. The solution to the problem of overcapacity in the current environment, but may make the outflow of capital from the sector required, for example, through consolidation.
Some businesses would recapitalize after another major disaster may not be able to be adequately represents the analyst firm further. They would then break any operational and debt targets , which would weaken the safety of both the policyholder and the bond holders .

Website: www.moodys.com
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