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March. 2008 |
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PIAVA
(Private Investigators Association of Virginia) held a meeting in |
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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. |
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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. |
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Private
Attorney business is rising in |
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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 |
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| Phrase Explanation: IPO | |||
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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 A lot of those promoters became millionaires
overnight. Lots of the employees made a great profit from the
subscription right. In |
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| Communication: Credit
Risk Evaluation |
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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. |
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| A Buddhist Fable | |||
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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. |
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| Manifestation of Insurance Fraud | |||
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Truth
is not told while proposal. This kind of fraud mixes some unqualified
applicant in the insured and causes adverse selection. |
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Cheat
on the claim of compensation. There always are intended tricks in non-life insurance
and impostures even self torturing in life assurance. |
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Overdraw
the claim amount. This kind of fraud is often used in claim for personal
accident insurance in China
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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. |
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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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