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h transaction details in front of what is called Schoolchildren's Palace in the North Korean capital Pyongyang.The tourist, who calls himself BitcoinDPRK, transferred the virtual currency using the Koryolink mobile internet service in North Korea, considered the most isolated country in the world.The transfer has reportedly been confirmed by Sean's Outpost.During his tour,Nike Air Max 90 EM Womens Red, the user also distributed wallets containing a few millibitcoins to North Korean tour guides, who generally accompany visitors.RelatedBank of Finland Labels Bitcoin As Commodity After Failing Money TestPorn to Be Bitcoin's 'Killer App' as Sales of Site in Digital Currency SoarHMRC to Reclassify Bitcoin as Private MoneySatoshi Square Brings Bitcoin Trading to the Streets of LondonThe digital currency has been under intense scrutiny from authorities across the world for various reasons including its volatile nature and the absence of the backing of a regulatory authority.Even though the latest transaction does not involve any North Korean party, it is likely to raise concern as it took place in a country which is reeling under harsh international sanctions over its controversial nuclear programme.Earlier,Nike Air Max 2013 Mens, there were reports suggesting that Iran, also hit by a clampdown,Nike Air Max 2014 Black Orange Fluorescent Green, had been using bitcoins to beat the US restrictions on trade and finance.  <div
Mis-Selling Derivatives: JPMorgan Sues Berlin's BVG Over Bad Swap DealBy Lianna BrindedJanuary 21, 2014 07:56 GMTMis-Selling Derivatives: JPMorgan sues Berlin's BVG Over bad swap dealReutersJPMorgan is suing Berliner Verkehrsbetriebe (BVG), the city's public transport group, over an "unfortunate" derivatives contract, which resulted in the bank being owed hundreds of millions of dollars.BVG, which is being pursued for $204m (??247m, ?335m) plus interest, has claimed it did not fully understand the risks involved and was misled by the bank in the first place.The German transport operator which runs the capital's underground railway, tram, bus and ferry networks refused to deliver the cash following the loss from a collateralised debt obligation (CDO) deal it took out before the financial crisis.CDOs are complex financial products tied to pools of cash-flow-generating assets such as high-yield junk bonds, mortgage-backed securities, and credit default swaps.They were marketed to investors as investments with a defined risk and reward."Rather than simply accepting that it had been unfortunate in the events that happened in the financial markets, BVG has decided to follow a course doing everything it could to avoid paying its debts, casting around for someone to blame other than itself," said Laurence Rabinowitz, a lawyer representing JPM, in a London court on the first day of the trial.Meanwhile, BVG claims that it was misled by JPM and the bank's law firm, Clifford Chance, and that it did not fully understand the risks involved.Clifford Chance responded in a statement and said that the "claims against us are misconceived and entirely without merit."According to court documents, BVG maintains that the employee most closely involved in the swap had no experience of the complex financial derivative the bank had pitched to him and misunderstood it.Over the past few years, regulators have fined a number of investment banks for the sale and marketing of CDOs.In August last year,Air Max 90 EM Womens Green UK, a US regulator slapped UBS with a multi-million dollar fine for deceiving investors who bought a risky mortgage-backed bond transaction during the financial crisis.Switzerland's biggest bank UBS will pay $49.8m to the US Securities and Exchange Commission (SEC) to settle charges that it violated the US' securities law after it failed to disclose certain fees and the true cost of structuring the CDO.In the same month, Citigroup was ordered to pay over half a billion dollars back to investors, after a New York federal judge rubberstamped a settlement deal related to the bank hiding toxic mortgage assets.In another case,Air Max 2013 Mens Hyper Blue UK, a New York jury found former Goldman Sachs vice president Fabrice Tourre liable for misleading investors in a 2007 sub-prime