March. 2008

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PIAVA (Private Investigators Association of Virginia) held a meeting in Vienna City , Virginia at 18:30, February 20, 2008, theme on “Application of Private Investigation in Legal cases”.

Beijing Committee of China Zhi Gong Party held a painting, calligraphy and photography exhibition in the theme of “Contribution for the Public Society, Painting Arts for the Olympic”. Hai Yang, President of Steele, participated in the activity and showed his work in the competition.

According to the decision adopted at the 25th Governor's Meeting of the People's Bank of China, the following 15 rules and regulations Provisional Administrative Rules on Foreign-funded Insurance Companies in Shanghai, Provisional Rules on the Management of Credit Funds, Rules on Micro-credit Pledged with Personal Time Savings Deposit Certificates, Provisional Rules on the Administration of Joint-venture Investment Banking Institutions, Provisional Rules on Imposing Administrative Sanctions on Officers Responsible for Serious Economic Crimes in Financial Institutions (PBC Document, Provisional Rules of the People's Bank of China on the Administration of Purchase of Gold and Silver,   Rules on the Registration and Record-keeping of Large-value Cash Payments,    Provisional Rules on the Treatment of Staff in the Financial System Violating Relevant Financial Rules and Regulations, Administrative Rules on Urban Cooperative Bank, Administrative Rules on Insurance Agents (Provisional),   Provisional Rules on Prevention and Disposal of Payment Risks of Financial Institutions, Administrative Rules on Insurance Brokers (Provisional), Administrative Rules on Credit Pledged with Corporate Time Deposit Certificates, Provisional Rules on Fee-based Business of Commercial Banks, Provisional Administrative Rules of the People's Bank of China on Forward Foreign Exchange Purchase and Sale Business are invalidated, effective on February 2, 2008. In addition, according to the decision of National Development and Reform Commission (NDRC) and the People’s Bank of China (PBC), Rules on Regimentation of Advanced Anti-counterfeiting Paper Manufacturing is invalidated from now on.

Chongqing will issue Provisional Administrative Rules on Credit Contribution of Chongqing will in 2008 to guide the contributions of Credit System for Government Policy, Government Execution and Government Supervision and Credit Information Database for Government Agency and Staff.

Private Attorney business is rising in Qingdao City of Shandong Province . For an annual cost at RMB2000, you can get a private attorney for yourself. The golden collars and small enterprises are becoming the main customers of private attorney. They hope the private attorneys help dealing with the Labor contract, marriage, house property, vehicle, commercial contract and various problems they meet in life.

Beijing Lawyers Association announced Directs of Practice Regulations on specifics of the case association of lawyer. Behaviors such as Identity veil during practice, carrying case while job hopping and rebate are interdicted. From the date February 1, the activities of all lawyers and law firms in Beijing much complied with Directs of Practice Regulations. Otherwise, they would be confronted with discipline liabilities.

IPO (Initial Public Offerings) refers to the issue mode an enterprise (joint-stock company limited or limited liability company) raising its capital publicly for the first time. After the IPO, a limited liability company turns into a join-stock company limited.

Matching with primary market, the market entrance for most of the public issues is underwritten by investment bank groups. The bank would buy the stocks from the issuing party at a certain discount and then sell the stocks at an agreed price. The setting-up cost of the public issue is much higher, so the private placement is sort of saving money.

The phenomenon first appeared in America in 90s of last century when America was suffering Dot-com Bubbles. The promoter would establish a company of independent capital and expect the IPO in the bullish market. The investors thought those companies would be another Microsoft, so stocks of those companies was always at bullish at the beginning of the listing. 

A lot of those promoters became millionaires overnight. Lots of the employees made a great profit from the subscription right. In America , most of the IPO stocks will be in transaction on NASDAQ exchange. Many Asian enterprises also use a similar method to raise funds for enterprise development.

Credit risk evaluation is a long-term observing on the solvency, profitability, asset turnover and development of an enterprise. The information is based on annually data and the quota is based on relative indication. Credit Risk Evaluation System is combined by Basic Indication, Assisted Indication and Qualitative Indication Systems. The three systems compensated relatively and conclude the final evaluation of enterprise credit risk. The Basic Indication presents the basic status of the evaluation, including rate of equity return, times of total assets turnover, rate of assets equity and rate of revenue increment. The Basic Indication then gets the primer conclusion of enterprise credit. Assisted Indication is the supplement and correction to the primer conclusion of Basic Indication. Gathering those evaluations, the final Quantity Indication conclusion of enterprise credit is completed. The evaluation covers solvency, profitability, assets turnover and development ability of the enterprise. Qualitative Indication is the professional technical judgment of non-quantifiable factors to the operation of the enterprise. The indication concludes the final Qualitative evaluation of the enterprise. The evaluation includes eight aspects of the truth of enterprise information.

A father was very worried about his child. Through the child was already sixteen, he is manliness less. One day, he went to a Buddhist monk for help.

The monk said: “leave the child alone with me for three months, while this period, you are not allowed to see him. After three months, I’ll turn this boy to a real man.”

Three months later, the father came back for the child.

The monk arranged a karate game to show the training result of the three months. The child was arranged fighting with a karate coach. The child fell on the floor the same time the coach was launching his attack. But the child stood up immediately facing the fighting again. Falling then stand up again, it run for about sixteen times.

Then the monk asked the father:”what do you think of you child, is he full of manliness?”

“Well, I’m so ashamed. I never thought of for three months training, he is so beat less and could not stand longer in the fight?”

The monk said “I’m sorry that you just saw the exterior of the fight. Don’t you notice the courage and strength every time the child stands up from the fail? That is the real manliness.”

Point:

Are you facing something you never met before? Does it seem hard to beaten? Can you get over it? The only thing you need is trust. You’ve got the strength much more than you thought. There is nothing can block you. The importance is that the time you stand up is always one more than you fall.

Truth is not told while proposal. This kind of fraud mixes some unqualified applicant in the insured and causes adverse selection.

Cheat on the claim of compensation. There always are intended tricks in non-life insurance and impostures even self torturing in life assurance.

Overdraw the claim amount. This kind of fraud is often used in claim for personal accident insurance in China .

Multiplicative claims for huge amount of compensation. For example, dangers happen for a insured car for several times, or a insured hit by car for several times or a fake document is used at different spots for several times.

Indoor fraud of the insurance company and fraud of a third party (agent or doctor). Some lawbreaker tricked the insured through a fake insurance company or fake insurance policy then run away with those stacks of insurance charge.

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