Blog: As a Brit abroad post-Brexit, I wanted to wear a badge saying: ‘Don’t look at me – I didn’t vote for this!’ – The Guardian

It used to be a reliable middle-class hack: if you wanted a zero-effort holiday, with no decisions except whether to have a pina colada or a beer, you went somewhere French-run and all-inclusive. The business model relies upon a large number of abstemious French people who prefer aqua aerobics, and a small but noticeable number of quietly extravagant British people. Then you would chat to them in halting French, and they would take over in much more expert English.

French parenting is incredibly harsh, and the swimming pool resounds to the sound of: “Non, crétin!” Who knows what this does to the long-term adult prospects of the three-year-old miscreants, but it makes the bar incredibly peaceful and nice, since only the kids who aren’t carrying on are in there. This is the way it’s been for years.

And then what happened? Was it Brexit? I probably ought to list a number of other factors, for balance, but sod it. It’s definitely Brexit: it somehow killed Anglo-French holiday cohabitation, which is why the four of us ended up the sole British family by a Tunisian beach, the only people for miles around who didn’t know whether Fanta was masculine or feminine, and were too thirsty to Google it.

This is a bad new world: there’s nothing to be said for it. I can’t tell you the number of times I was asked whether I was Flemish or from the Netherlands. I was incompetent enough that I clearly wasn’t French, yet nobody expects to meet a British family who can even say “merci” any more. No, not German either! “Canadian, then?” A Swiss family approached at one point and said: “We heard you were here, but didn’t believe it. You’re an endangered species!”

There are the serious consequences of our departure from the EU, and they have been ably listed by everyone: the slide into recession that was just unnecessary and wilful, the wanton destruction of small businesses and trade, the sheer national self-sabotage that all remoaners predicted, only to see those very predictions turned against them. Then there are the myriad inconveniences: the queues at airports, the indignity of a blue passport that you didn’t choose and, nevertheless, have to carry like a badge, the new weird restrictions that come from no longer being part of the club.

But there’s atmospheric stuff, too: I think the perception is that our whole nation has turned against internationalism. When you try to speak another language not very well, people look at you like a dog standing on its hind legs. When you vape constantly, other vapers look surprised, as if that’s a laidback European thing now, the British being perceived as joyless and self-flagellating, otherwise how else to explain us? When you queue by a bar, people give way to you, as though you’re so exceedingly Viking that who knows what you’ll do otherwise?

I wanted to wear a badge saying: “Don’t look at me – I didn’t vote for this”, much like the one that my mum made me wear after the general election of 1983 (a weird statement: I was 10, so obviously). I wanted to act the internationalist ambassador by, I don’t know, maybe being able to play pétanque, or not getting sunburnt on the very first day, or knowing the intricate leg routine to Freed from Desire, which for some reason the French, who run their dancefloors like aerobics classes, can all do in sync.

I wanted to make some gesture of atonement and reconciliation, to which the closest I got was walking around with a shit-eating half-smile on my face. I managed one full conversation the whole week, when I flipped some pickles out of a jar and they went everywhere. “Sorry,” I said (in French!), “it’s very difficult.” “Actually,” some impossibly stylish woman replied, “it’s really easy.” That’s what you want. A level of continental familiarity where people are amusingly rude to you. Now people are mostly eerily polite.

Zoe Williams is a Guardian columnist

Do you have an opinion on the issues raised in this article? If you would like to submit a letter of up to 300 words to be considered for publication, email it to us at guardian.letters@theguardian.com

Blog: Termite ‘eat up’ NSITF documents containing expenditures worth N17bn – Premium Times

Termites have allegedly eaten up some documents of the Nigeria Social Insurance Trust Fund (NSITF) containing expenditures worth N17.1 billion, officials of the agency have told the Senate.

These documents are said to contain details of spendings by the agency in 2013.

The NSITF management stated this when it appeared before the Senate Public Accounts Committee (SPAC) on Friday.

Details of this expenditure and more are contained in the 2018 audit report of the Office of the Auditor General of the Federation (OAuGF).

In the report, which is now being considered by the SPAC, the OAuGF queried the agency for spending billions without appropriate supporting documents.

The management could not, however, justify the spending of the money when it was confronted by the panel.

The query

The OAuGF said the N17.158 billion represented the total amount, transferred by the NSITF from its Skye Bank and First Bank accounts, into various untraceable accounts between January and December 2013.

These account, it said, belongs to individuals and companies.

The report also issued 50 different queries for alleged misappropriation of funds against the agency.

“Management of NSITF, as shown in statements of account number 1750011691 with Skye Bank Plc, for the period 1st January, 2013 to 20th December, 2013, and statements of account number 2001754610 with First Bank Plc for the period January 7, 2013 to February 28, 2013, transferred amounts totalling N17,158,883,034.69 to some persons and companies from these accounts,” part of the report read.

“However, payment vouchers relating to the transfers together with their supporting documents were not provided for audit. Consequently, the purpose(s) for the transfers could not be authenticated.“

The OAuGF noted that these are in violation of Financial Regulation 601 which states that “all payment entries in the cashbook/accounts shall be vouched for on one of the prescribed treasury forms. Vouchers shall be made out in favour of the person or persons to whom the money is actually due.



“Under no circumstances shall a cheque be raised, or cash paid for services for which a voucher has not been raised.”

Termites, rain take the blame

Both past and present managements of the agency were summoned by the chairman of the Senate panel, Matthew Urhoghide.

When confronted with the queries from the audit report, no official could give a satisfactory explanation for the spending.

The past management that headed the agency in 2013 told the panel that they left behind the relevant cash vouchers for the the transactions.

The agency’s Managing Director from 2010 to 2016, Umar Abubakar, allegedly claimed that he was aware of the query and had no explanations to render since the audit exercise was not carried out during his tenure.

On his part, Adebayo Somefun, who headed the agency from May 2017 to July 2020, insisted that those in the agency’s account section should be able to trace the documents.

But the current Managing Director, Michael Akabogu, said the documents were in the organisation’s possession.

He said “the container the said documents were kept by past management has not only been beaten by rains over the years but even possibly been eaten up by termites,” he told the panel.

“I told the past management officers on the need for them to help us out in answering this query with necessary documents which have not been made available for us.”

Another official of the agency, whose name could not be ascertained, told the panel that the container in question has been under lock and key and abandoned in an isolated area within the premises of the organisation in Abuja.

Mr Urhoghide, thereafter, mandated both members of past and present management of the NSITF to re-appear before the panel with all necessary evidence concerning the transactions unfailingly on Thursday, September 22, 2022.

Inexplicable expenditures are few of many queries issued by the OAuGF every year.

In the 2017 report, the OAuGF exposed how some Ministries, Departments and Agencies (MDAs) would pay salaries to dead or retired staffers, purchase vehicles and other properties without proper documentation.

Although the Senate committee queries agencies indicted, no concrete penalty has been given.


Support PREMIUM TIMES’ journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate



TEXT AD: Call Willie – +2348098788999






Blog: BREAD FINANCIAL HOLDINGS, INC. : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K) – Marketscreener.com

Item 7.01 Regulation FD Disclosure.

On August 15, 2022, Bread Financial Holdings, Inc. issued a press release
providing a performance update as of and for the period ended July 31, 2022. A
copy of this press release is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.   Document Description

  99.1        Press release dated August 15, 2022 providing a performance update as of
              and for the period ended July 31, 2022.

104           Cover Page Interactive Data File (embedded within the Inline XBRL
              document).


The information contained in this report (including Exhibit 99.1) shall not be
deemed “filed” for purposes of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that section, nor
shall it be deemed incorporated by reference in any filing under the Securities
Act of 1933, as amended, except as expressly set forth by specific reference in
such a filing.

——————————————————————————–

© Edgar Online, source Glimpses

Blog: VIRIDIAN THERAPEUTICS, INC.DE : Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K) – Marketscreener.com

Item 2.02 Results of Operations and Financial Condition.

On August 15, 2022, Viridian Therapeutics, Inc. (the “Company”), issued a press
release reporting financial results for the three months ended June 30, 2022.

The press release is attached hereto as Exhibit 99.1, which is furnished under
Item 2.02 of this Current Report on Form 8-K and shall not be deemed to be
“filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), or otherwise subject to the liabilities of that
section, nor shall it be deemed incorporated by reference in any filing under
the Exchange Act or the Securities Act of 1933, as amended (the “Securities
Act”), regardless of any general incorporation language in such filing.

Item 7.01 Regulation FD Disclosure.

On August 15, 2022, the Company made available an updated investor presentation.
Also on August 15, 2022, the Company made available a presentation regarding,
and issued a press release announcing, positive initial clinical data from its
Phase 1/2 trial of VRDN-001, as well as first-in-human data from its Phase 1
trial of VRDN-002.

The investor presentation, data presentation and press release are attached
hereto as Exhibit 99.2, Exhibit 99.3 and Exhibit 99.4 respectively, which are
furnished under Item 7.01 of this Current Report on Form 8-K and shall not be
deemed to be “filed” for purposes of Section 18 of the Exchange Act, or
otherwise subject to the liabilities of that section, nor shall it be deemed
incorporated by reference in any filing under the Exchange Act or the Securities
Act, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit
Number       Exhibit Description

99.1           Press release regarding financial results, dated August 15, 2022

99.2           Viridian Therapeutics, Inc. Investor Presentation, dated August 2022

99.3           Viridian Therapeutics, Inc. Data Presentation, dated August 2022

99.4           Press release regarding data, dated August 15, 2022

104          Cover Page Interactive Data File (embedded within the Inline XBRL document)

——————————————————————————–

© Edgar Online, source Glimpses

Blog: ALTUS POWER, INC. : Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K) – Marketscreener.com

Item 2.02 – Results of Operations and Financial Condition

On August 15, 2022, Altus Power, Inc. issued a press release announcing its
results for the fiscal quarter ended June 30, 2022. A copy of the press release
is attached as Exhibit 99.1 to this current report on Form 8-K and is
incorporated by reference herein.

The information in this current report on Form 8-K and the exhibits attached
hereto shall not be deemed “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to
the liabilities of that section, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933, as amended, or the
Exchange Act, regardless of any general incorporation language in such filing.

Item 7.01 – Regulation FD Disclosure.

On August 15, 2022, representatives of Altus Power, Inc. began making
presentations to investors using slides containing the information attached to
this Current Report on Form 8-K as Exhibit 99.2 (the “Earnings Presentation”)
and incorporated herein by reference. The Company expects to use the Earnings
Presentation, in whole or in part, and possibly with modifications, in
connection with presentations to investors, analysts and others. The Earnings
Presentation is intended to be read in conjunction with the earnings call to be
held on August 15, 2022.

By filing this Current Report on Form 8-K and furnishing the information
contained herein, the Company makes no admission as to the materiality of any
information in this report that is required to be disclosed solely by reason of
Regulation FD.

The information presented in Item 7.01 of this Current Report on Form 8-K and
Exhibits attached hereto shall not be deemed to be “filed” for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or otherwise subject to the liabilities of that section, unless the
Company specifically states that the information is to be considered “filed”
under the Exchange Act or specifically incorporates it by reference into a
filing under the Securities Act of 1933, as amended, or the Exchange Act.

Item 9.01 – Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.             Description
99.1                      Press release issued by Altus Power, Inc. dated     August     1    5    ,
                          2022.
99.2                      Earnings     Presentation issued by Altus Power, Inc. dated August 15,
                        2022.
104                     Cover Page Interactive Data File (embedded within the Inline XBRL document)



——————————————————————————–

© Edgar Online, source Glimpses

Blog: KENNEDY-WILSON HOLDINGS, INC. : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K) – Marketscreener.com

ITEM 7.01 REGULATION FD DISCLOSURE

On August 15, 2022, Kennedy Wilson Europe Real Estate Limited (“KWE”), a
wholly-owned subsidiary of Kennedy-Wilson Holdings, Inc. (the “Company”), posted
its interim IFRS financial statements for the six-month period ended June 30,
2022 on the Company’s website in compliance with certain covenants set forth
under its unsecured bonds. A copy of the results is furnished herewith as
Exhibit 99.1.

The information in this report (including Exhibit 99.1) is being furnished and
shall not be deemed to be “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to
the liabilities of that section, nor shall it be deemed to be incorporated by
reference in any filing under the Securities Act of 1933, as amended, or the
Exchange Act regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.


Exhibit No.            Description

      99.1               Kennedy Wilson Europe Real Estate Limited interim IFRS financial statements
                       for the six-month period ended June 30, 2022
      104              Cover Page Interactive Data File - The cover page interactive data file does
                       not appear in the interactive data file because its XBRL tags are embedded
                       within the inline XBRL document.






——————————————————————————–

© Edgar Online, source Glimpses

Blog: VAALCO ENERGY INC /DE/ : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K) – Marketscreener.com

Item 7.01. Regulation FD Disclosure.

As previously announced, VAALCO Energy, Inc., a Delaware corporation (“VAALCO”)
and VAALCO Energy Canada ULC (“AcquireCo”), an Alberta unlimited liability
company and an indirect wholly-owned subsidiary of VAALCO, entered into an
Arrangement Agreement, dated as of July 13, 2022 (“Arrangement Agreement”), with
TransGlobe Energy Corporation, an Alberta corporation (“TransGlobe”), pursuant
to which, among other things, AcquireCo will acquire all of the issued and
outstanding common shares of TransGlobe (the “Arrangement”) with TransGlobe
continuing as a direct wholly-owned subsidiary of AcquireCo and an indirect
wholly-owned subsidiary of VAALCO.

On August 15, 2022, VAALCO issued a press release that announced that VAALCO’s
board of directors has established the record date a special meeting VAALCO’s
stockholders to consider and vote on the proposed Arrangement. The record date
for the special meeting will be August 24, 2022. Stockholders of record of
VAALCO as of the close of business on August 24, 2022, the record date for the
special meeting, will be entitled to notice of and to vote at the special
meeting. The date of the special meeting will be determined and announced at a
later time. A copy of the press release is furnished as Exhibit 99.1 hereto and
is incorporated into this Item 7.01 by reference.

The information in this Item 7.01, including Exhibit 99.1 attached hereto, is
being furnished and shall not be deemed “filed” for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or
otherwise subject to the liabilities of that section, and shall not be
incorporated by reference into any registration statement or other document
filed pursuant to the Securities Act of 1993, as amended (the “Securities Act”),
except as otherwise stated in such filings. Similarly, the information on
VAALCO’s website shall not be deemed “filed” for purposes of Section 18 of the
Exchange Act, or otherwise subject to the liabilities of that section.

Important Information About the Proposed Arrangement and Where to Find It

In connection with the proposed Arrangement, VAALCO intends to file preliminary
and definitive proxy statements with the Securities and Exchange Commission (the
“SEC”). The preliminary and definitive proxy statements and other relevant
documents will be sent or given to the stockholders of VAALCO as of the record
date established for voting on the proposed Arrangement and will contain
important information about the proposed Arrangement and related matters.
Stockholders of VAALCO and other interested persons are advised to read, when
available, the preliminary proxy statement and any amendments thereto and, once
available, the definitive proxy statement, in connection with VAALCO’s
solicitation of proxies for the meeting of stockholders to be held to approve,
among other things, the issuance of shares of VAALCO common stock in connection
with the proposed Arrangement because the proxy statement will contain important
information about VAALCO, TransGlobe and the proposed Arrangement. When
available, the definitive proxy statement will be mailed to VAALCO’s
stockholders as of the record date of August 24, 2022. Stockholders will also
be able to obtain, without charge, copies of (i) the proxy statement, once
available, (ii) the other filings with the SEC that have been incorporated by
reference into the proxy statement and (iii) other filings containing
information about VAALCO, TransGlobe and the proposed Arrangement, at the SEC’s
website at http://www.sec.gov or by directing a request to: VAALCO Energy, Inc., 9800
Richmond Avenue, Suite 700, Houston, TX 77042, Attention: Secretary, telephone:
(713) 623-0801.

Participants in the Proposed Arrangement Solicitation

VAALCO, TransGlobe and their respective directors and executive officers may be
deemed participants in the solicitation of proxies from VAALCO’s stockholders in
connection with the proposed Arrangement. VAALCO’s stockholders and other
interested persons may obtain, without charge, more detailed information (i)
regarding the directors and officers of VAALCO in VAALCO’s 2021 Annual Report on
Form 10-K filed with the SEC on March 11, 2022, its proxy statement relating to
its 2022 Annual Meeting of Stockholders filed with the SEC on April 22, 2022 and
other relevant materials filed with the SEC when they become available; and (ii)
regarding TransGlobe’s directors and officers in TransGlobe’s 2021 Annual
Information Form, which is attached as Exhibit 99.1 to Form 40-F, filed with the
SEC on March 17, 2022 and other relevant materials filed with the SEC when they
become available. Information regarding the persons who may, under SEC rules,
be deemed participants in the solicitation of proxies to VAALCO’s stockholders
in connection with the proposed Arrangement will be set forth in the proxy
statement for the proposed Arrangement when available. Additional information
regarding the interests of participants in the solicitation of proxies in
connection with the proposed Arrangement will be included in the proxy statement
that VAALCO intends to file with the SEC.

——————————————————————————–

Forward-Looking Statements

This Current Report on Form 8-K includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act,
which are intended to be covered by the safe harbors created by those laws and
other applicable laws and “forward-looking information” within the meaning of
applicable Canadian securities laws. Where a forward-looking statement expresses
or implies an expectation or belief as to future events or results, such
expectation or belief is expressed in good faith and believed to have a
reasonable basis. All statements other than statements of historical fact may be
forward-looking statements. The words “anticipate,” “believe,” “estimate,”
“expect,” “intend,” “forecast,” “outlook,” “aim,” “target,” “will,” “could,”
“should,” “may,” “likely,” “plan,” “probably” or similar words may identify
forward-looking statements, but the absence of these words does not mean that a
statement is not forward-looking. Forward-looking statements in this Current
Report on Form 8-K may include, but are not limited to, statements relating to
(i) the proposed Arrangement and its expected terms, timing and closing,
including receipt of required approvals, if any, satisfaction of other customary
closing conditions and expected changes and appointments to the executive team
and board of directors; (ii) estimates of pro forma reserves and future
drilling, production and sales of crude oil and natural gas; (iii) estimates of
future cost reductions, synergies, including pre-tax synergies, savings and
efficiencies; (iv) expectations regarding VAALCO’s ability to effectively
integrate assets and properties it may acquire as a result of the proposed
Arrangement into VAALCO’s operations (v) expectations regarding future
exploration and the development, growth and potential of VAALCO’s and
TransGlobe’s operations, project pipeline and investments, and schedule and
anticipated benefits to be derived therefrom; (vi) expectations regarding future
investments or divestitures; (vii) expectations of future dividends and returns
to stockholders including share buybacks; (viii) expectations of future balance
sheet strength and credit ratings including pro forma financial metrics; (ix)
expectations of future equity and enterprise value; (x) expectations regarding
the listing of the common stock, par value $0.10 of VAALCO (“VAALCO common
stock”) on the New York Stock Exchange and London Stock Exchange; and delisting
of TransGlobe shares from Nasdaq, the Toronto Stock Exchange and Alternative
Investment Market; (xi) expectations regarding the percentage share of the
combined company that are expected to be owned by existing VAALCO stockholders
and TransGlobe shareholders; (xii) expectations of future plans, priorities,
focus and benefits of the proposed Arrangement and the combined company; (xiii)
the combined company’s environmental, social and governance related focus and
commitments, and the anticipated benefits to be derived therefrom; (xiv) terms
of hedging contracts; and (xv) expectations relating to resource potential and
the potential to add reserves.

Additionally statements relating to “reserves” are deemed to be forward-looking
statements, as they involve the implied assessment, based on certain estimates
and assumptions, that the reserves described exist in the quantities predicted
or estimated and can be profitably produced in the future. Forward-looking
statements regarding the percentage share of the combined company that are
expected to be owned by existing VAALCO stockholders and TransGlobe shareholders
have been calculated based on each company’s vested outstanding shares as of the
date of the Arrangement Agreement. Dividends of VAALCO beyond the third quarter
2022 have not yet been approved or declared by the board of directors of VAALCO.
VAALCO management’s expectations with respect to future dividends, annualized
dividends or other returns to stockholders, including share buybacks, are
forward-looking statements. Investors are cautioned that such statements with
respect to future dividends and share buybacks are non-binding. The declaration
and payment of future dividends or the terms of any share buybacks remain at the
discretion of the board of directors of VAALCO and will be determined based on
VAALCO’s financial results, balance sheet strength, cash and liquidity
requirements, future prospects, crude oil and natural gas prices, and other
factors deemed relevant by the board of directors of VAALCO. The board of
directors of VAALCO reserves all powers related to the declaration and payment
of dividends. Consequently, in determining the dividend to be declared and paid
on VAALCO common stock, the board of directors of VAALCO may revise or terminate
the payment level at any time without prior notice. Such forward-looking
statements are subject to risks, uncertainties and other factors, which could
cause actual results to differ materially from future results expressed,
projected or implied by the forward-looking statements. These risks and
uncertainties include, but are not limited to: the ability to obtain
stockholder, shareholder, court and regulatory approvals (if any) in connection
with the proposed Arrangement; the ability to complete the proposed Arrangement
on the anticipated terms and timetable; the possibility that various closing
conditions for the Arrangement may not be satisfied or waived; risks relating to
any unforeseen liabilities of VAALCO and/or TransGlobe; the tax treatment of the
proposed Arrangement in the United States and Canada; declines in oil or natural
gas prices; the level of success in exploration, development and production
activities; adverse weather conditions that may negatively impact development or
production activities; the timing and costs of exploration and development
expenditures; inaccuracies of reserve estimates or assumptions underlying them;
revisions to reserve estimates as a result of changes in commodity prices;
impacts to financial statements as a result of impairment write-downs; the
ability to generate cash flows that, along with cash on hand, will be sufficient
to support operations and cash requirements; the ability to attract capital or
obtain debt financing arrangements; currency exchange rates and regulations;
actions by joint venture co-owners; hedging decisions, including whether or not
to enter into derivative financial instruments; international, federal and state
initiatives relating to the regulation of hydraulic fracturing; failure of
assets to yield oil or gas in commercially viable quantities; uninsured or
underinsured losses resulting from oil and gas operations; inability to access
oil and gas markets due to market conditions or operational impediments; the
impact and costs of compliance with laws and regulations governing oil and gas
operations; the ability to replace oil and natural gas reserves; any loss of
senior management or technical personnel; competition in the oil and gas
industry; the risk that the proposed Arrangement may not increase VAALCO’s
relevance to investors in the international exploration and production industry,
increase capital market access through scale and diversification or provide
liquidity benefits for stockholders; and other risks described (i) under the
caption “Risk Factors” in VAALCO’s 2021 Annual Report on Form 10-K, filed with
the SEC on March 11, 2022; and (ii) in TransGlobe’s 2021 Annual Report on Form
40-F, filed with the SEC on March 17, 2022 or TransGlobe’s annual information
form for the year ended December 31, 2021 dated March 17, 2022. Neither VAALCO
nor TransGlobe is affirming or adopting any statements or reports attributed to
the other (including prior oil and gas reserves information) in this Current
Report on Form 8-K or made by the other outside of this Current Report on Form
8-K. More information on potential factors that could affect VAALCO’s or
TransGlobe’s financial results will be included in the preliminary and the
definitive proxy statements that VAALCO intends to file with the SEC in
connection with VAALCO’s solicitation of proxies for the meeting of stockholders
to be held to approve, among other things, the issuance of shares of VAALCO
common stock in connection with the proposed Arrangement. There may be
additional risks that neither VAALCO nor TransGlobe presently knows, or that
VAALCO or TransGlobe currently believes are immaterial, that could also cause
actual results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect VAALCO’s and
TransGlobe’s expectations, plans or forecasts of future events and views as of
the date of this Current Report on Form 8-K. Should one or more of these risks
or uncertainties materialize, or should any of the assumptions prove incorrect,
actual results may vary in material respects from those projected in these
forward-looking statements. No obligation is being undertaken to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under applicable
securities laws.

——————————————————————————–

No Offer or Solicitation

This document shall not constitute a solicitation of a proxy, consent or
authorization with respect to any securities or in respect of the proposed
. . .

Item 9.01. Financial Statements and Exhibits.


 (c) Exhibits



Exhibit    Description

  99.1     Press Release issued on August 15, 2022
104        Cover Page Interactive Data File (embedded within the Inline XBRL document).



——————————————————————————–

© Edgar Online, source Glimpses

Blog: Do data regulations properly protect consumers? | World Economic Forum – World Economic Forum

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

Blog: Crypto Industry Eyes SEC’s ‘Regulation by Enforcement’ Ramp Up – Blockworks

  • Recent regulator actions are the culmination of efforts to bolster authority in the space made in the past year
  • Defendants in current case against alleged crypto scheme Forsage could challenge SEC’s jurisdiction, lawyers say

Regulation by enforcement will continue in the absence of concrete crypto legal frameworks, according to industry executives and lawyers, as regulators are seeking to spotlight recent investor protection issues in the space. 

Crypto-related cases and enforcement actions have picked up in recent weeks. The SEC most recently charged 11 people for allegedly creating and promoting a fraudulent crypto pyramid and Ponzi scheme, called Forsage, that raised more than $300 million from retail investors.

The regulator, along with the US Department of Justice (DOJ) also charged a former Coinbase employee, along with his brother and his friend, with insider trading last month. The SEC alleges in the complaint that nine different crypto tokens are securities.

On June 30, the DOJ charged six people with crypto fraud offenses in cases involving more than $100 million in losses. One was the largest known NFT scheme charged to date, involving an alleged so-called “rug pull” scheme involving the Baller Ape Club NFTs.  

Much of the latest enforcement activity has been in the works for a while, according to Ari Redbord, head of government affairs at TRM Labs.  

“These aren’t necessarily new frauds or scams; they’re frauds or scams that are now finding their way through the enforcement system or the criminal justice system,” he said. “It feels very much like a lot is going on right now, but some of it is the culmination of what started six months or a year ago.” 

Regulation by enforcement on a backdrop of regulatory uncertainty

The SEC renamed its cyber team in the agency’s Division of Enforcement to the Crypto Assets and Cyber Unit, in May. The regulator revealed at the time that it would add 20 people to the team responsible for protecting investors in crypto markets and cyber-related threats, bringing its headcount to 50.

“The SEC has already turned up the heat, and I would expect that heat to continue and possibly get even hotter as the SEC attempts to expand its authority over an industry already inundated with regulatory uncertainty,” said Adam Pollet, a partner in Eversheds Sutherland’s securities enforcement and litigation practices.

Patrick Daugherty, a former SEC lawyer and partner at Foley & Lardner, added: “Fraud cases are easy cases. I expect the SEC to bring easy cases to chalk up easy wins.”

The Department of Justice in February named a director for its National Cryptocurrency Enforcement Team — a new unit focused on digital asset seizure and blockchain-based lawbreaking.

Redbord, who, before TRM Labs, was a US prosecutor and an official at both the DOJ and the US Department of the Treasury, said that recent events such as the collapse of Terra’s algorithmic stablecoin UST and the LUNA token have spurred regulators to want to shine a light on consumer protection issues and stability risk in the space.

“It’s difficult to get anything through Congress, so you’re not necessarily going to get any clear legal framework any time soon,” he added.

“You see regulation by enforcement action for better or worse because without clear legal frameworks, regulators are going to sort of interpret their own authorities themselves.”

Though guidelines are fairly clear in the anti-money laundering space, having a clear regulatory framework in place is critical in the securities space, Redbord said. 

Unlike the DOJ, which must prove wire fraud, he added, the SEC must also show that the co-conspirators traded on insider information involving securities.

Sens. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, D-N.Y., in June introduced the Responsible Financial Innovation Act, which has a section on “securities innovation.”

“That is something that is going to be negotiated and iterated on and discussed for some time,” he said. 

What’s next in the Forsage case?

Though industry watchers expect the SEC to ramp up enforcement actions within the crypto space, they acknowledged not all cases will be easy. 

Forsage, for example, continued to operate despite receiving cease-and-desist actions from the SEC of the Philippines in September 2020 and the Montana Commissioner of Securities and Insurance in March 2021.

The alleged scheme’s website, which was operating at the time the charges were filed, now appears to be shut down. 

Founders of Forsage were last known to be living in Russia, the Republic of Georgia and Indonesia. Pollet said the defendants may challenge the jurisdiction of the SEC, to the extent that they surface at all.

The SEC can ask the court to enter a temporary restraining order or an asset freeze against operators of an alleged fraudulent scheme to prevent further dissipation of investor funds while the litigation proceeds, he added. But it does not appear the regulator has done so, Pollet said, noting that it could be because the relevant assets reside outside the US.

An SEC spokesperson declined to comment beyond the complaint.

Redbord said getting Forsage co-founders Mikail Sergeev and Sergey Maslakov— last known to be living in Russia — into a US courtroom would be especially difficult.

Sergeev, along with another defendant in the SEC case, Lola Ferrari, moved on to a new and similarly suspect project, dubbed Express Smart Game, while another Forsage creator, Vladimir “Lado” Okhotnikov, funneled traffic from the Forsage YouTube channel to his new (alleged) scam, Meta Force, the complaint notes.

“It becomes something of a sort of name and shame,” Redbord said, “where you want to ensure that these individuals — and Forsage in particular — are known out there as entities not to do business with.”


Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.


  • Ben Strack is a Denver-based reporter covering macro and crypto-native funds, financial advisors, structured products, and the integration of digital assets and decentralized finance (DeFi) into traditional finance. Prior to joining Blockworks, he covered the asset management industry for Fund Intelligence and was a reporter and editor for various local newspapers on Long Island. He graduated from the University of Maryland with a degree in journalism.

    Contact Ben via email at

    [email protected]