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Ex-Deutsche Bank trader accused of market manipulation in Russia
By Martin Arnold and Max Seddon
Financial Times, London
Tuesday, December 20, 2016
Russia's central bank said on Tuesday it had found evidence of "large scale" market manipulation by Deutsche Bank’s former head of Russian equity trading, accusing him of doing R300 billion ($4.8 billion) of illicit trades in the names of his relatives.
The case is another blow for Deutsche's already battered reputation in Russia, where it has shut down most of its investment banking operations after being hit by a separate trading scandal last year.
Yuri Khilov, who left Deutsche in 2015, earned about R255 million of profit for himself and his family from 2013 to 2015, the Russian central bank said in a statement today. It said complaints had been filed with local law enforcement agencies.
The central bank accused Mr. Khilov of opening accounts in his relatives' names, then booking trades on behalf of Deutsche's London branch that allowed them to profit within minutes by buying or selling stocks of Russia's most liquid companies, including Gazprom, Sberbank, Rosneft, Lukoil, and Norilsk Nickel, in the opposite direction. ...
... For the remainder of the report:
https://www.ft.com/content/488a58e0-c6bd-11e6-8f29-9445cac8966f
Canadian Government Issues Key Water License
for Seabridge Gold's KSM Project in British Columbia
Company Announcement
Monday, November 21, 2016
TORONTO -- Seabridge Gold Inc. (TSX: SEA) (NYSE:SA) announced today it has received a license from the Government of Canada required for the construction, operation, and maintenance of the water storage facility and associated ancillary water works at its 100 percent-owned KSM Project in northwestern British Columbia.
The license, as authorized within the International Rivers Improvement Act, regulates all structures and activities situated on transboundary waters shared with the United States that have the potential to affect water quality and quantity. The Water storage facility and its ancillary water works (water diversion ditches and tunnels) are the primary water management control systems for the KSM Project. These facilities separate water that has not contacted mined material from so-called contact water originating from disturbed areas of the mine site and then contain the contact water prior to treatment and eventual release to the receiving environment.
These facilities are situated on Mitchell and Sulphurets creeks, tributaries of the transboundary Unuk River system that flows into Alaska. The license was granted for a term of 25 years under the International Rivers Improvements Regulations as administered by Environment and Climate Change Canada. ...
... For the remainder of the announcement:
http://seabridgegold.net/News/Article/642/federal-government-issues-key-...
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