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Supreme Court's Campaign Finance Case Gets New Firepower

Findings showed that the regulator is likely to fix the subsectors minimum capital base at N200 million, from N20 million, about 180 per cent increase. Executive Secretary, Finance Houses Association of Nigeria (FHAN) Ben Nwokike said operators and investors were awaiting the completion of the reforms which started last year. He said both local and foreign investors were willing to recapitalise and invest in some of the ailing finance houses but for the CBN guideline. He explained that unlike banks, finance firms are not allowed to accept deposits. This means they can only source funds from shareholders, private equity companies, development finance institutions and other institutional investors. Nwokike said the reforms are being hindered by government bureaucracies. He said there are some investors who have carried out due diligence on some of the finance houses but cannot move in funds because the regulation in the sub-sector remains unclear. He said the new capital base for the subsector remains a critical factor that investors want to be acquainted with before staking their funds, adding that this would ensure that only seriously minded operators were allowed to carry on businesses. Findings also showed that other policy issues such as the criteria for the appointment of managing directors would form part of the reforms.

The firm issued a buy rating and a GBX 700 ($10.85) price objective on the stock. International Personal Finance ( LON:IPF ) traded up 2.94% during mid-day trading on Thursday, hitting GBX 613.00. 477,189 shares http://www.firstfinancialuk.com of the companys stock traded hands. International Personal Finance has a 52 week low of GBX 282.10 and a 52 week high of GBX 667.00. The stocks 50-day moving average is GBX 591.9 and its 200-day moving average is GBX 505.5. The companys market cap is 1.510 billion.

EDT August 30, 2013 Nation's leading opponent of campaign finance restrictions also fought McCain-Feingold a decade ago and won Citizens United case for unlimited corporate spending Sen. Mitch McConnell has been a leading opponent of campaign finance laws. (Photo: Stephen Lance Dennee, AP) Story Highlights Senate Republican leader Mitch McConnell gets time to argue Case is successor to Citizens United, McCain-Feingold SHARECONNECT 41 TWEET COMMENTEMAILMORE WASHINGTON -- The Supreme Court has granted Senate Republican leader Mitch McConnell oral argument time in a major campaign finance case being heard in early October, giving opponents of current contribution limits new firepower. McConnell is the nation's leading opponent of campaign finance restrictions, who lost his effort to defeat the McCain-Feingold law's limits on corporate and union donations a decade ago but won the Citizens United case in 2010 that freed corporations to spend unlimited amounts independently on elections. By allowing McConnell to take some of the precious 30 minutes his side will have to make its case, the court on Friday further assured that the case will take on the aura of those two previous cases -- pitting Republican-aligned backers of unlimited spending against Democratic-aligned groups that want to reduce the influence of money in elections. The case is being brought by Alabama millionaire Shaun McCutcheon, a Republican businessman who objects to the overall limits federal regulations place on campaign donations.

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