Government backs down on Green Dam but concerns remain

first_img China’s Cyber ​​Censorship Figures Democracies need “reciprocity mechanism” to combat propaganda by authoritarian regimes News ChinaAsia – Pacific Help by sharing this information Follow the news on China News April 27, 2021 Find out more to go further China: Political commentator sentenced to eight months in prison Reporters Without Borders is relieved by yesterday’s government announcement that installation of its “Green Dam-Youth Escort” Internet-filtering software will not be obligatory on individually-owned computers but is nonetheless concerned that installation is to go ahead on computers in schools and Internet cafés.“We hail this decision, which is the result of a major international outcry involving both government officials and the Chinese-language blogosphere,” Reporters Without Borders said. “But the ministry of industry and information technology’s insistence on installing the software on computers in schools, Internet cafés and other public places continues to worry us. As Internet cafés are very popular in China, this could do online freedom of information a great deal of harm.”At a news conference yesterday, industry and information technology minister Li Yizhong said Green Dam’s installation would be optional. It had been poorly presented and explained and had been misunderstood, he said, claiming that that there had never been any intention of making its installation on individually-owned computers obligatory. The decision to let people choose whether or not to install Green Dam was hailed yesterday by the US government, which had played a key role in lobbying the Chinese authorities against its obligatory installation on computers.At yesterday’s conference, organised by the State Council’s Information Bureau, Li nonetheless said installation would go head on computers in schools, Internet cafés and other public places in order to protect young people from pornography and other harmful content.However, the authorities have not provided any details about of the kind of content that will be considered inappropriate. The limits of this content filtering need to be clearly defined in order to avoid excesses. While it is legitimate to want to regulate the Internet, it would be unacceptable if this software were to restrict online freedom.China has more Internet users than any other country in the world – more than 300 million – but its censorship of the Internet is also one of the world’s strictest. It was ranked 167th out of 173 countries in the 2008 Reporters Without Borders press freedom index.center_img Receive email alerts June 2, 2021 Find out more RSF_en News Organisation News ChinaAsia – Pacific August 14, 2009 – Updated on January 20, 2016 Government backs down on Green Dam but concerns remain March 12, 2021 Find out morelast_img read more

Truell targets listing to capture business from UK LGPS pools

first_imgEdi TruellTruell is “a great fan of Brexit”.“If properly negotiated and structured it should be an enormous opportunity for Britain and the British economy,” he said.The Truell family has the vast majority of its assets in what is becoming DCAG.With around £300m (€334m) of assets under management, the investment company holds a diverse portfolio, including exposure to companies involved in big data, infrastructure and healthcare.As DCAG, it plans to concentrate on private equity to begin with and then include other asset classes such as real assets. About Edmund ‘Edi’ TruellA financier, Truell has held myriad positions in the financial services industry. He is known in the UK pension fund world as the co-founder of the Pension Insurance Corporation, the defined benefit insurer, and his subsequent position as chair of the London Pension Fund Authority (LPFA) from January 2013.He was instrumental in pushing forward the collaboration between LPFA and Lancashire Country Pension Fund that led to what is now the Local Pension Partnership. He resigned in August 2015 to set up an advisory board for the partnership and to work as an unpaid adviser on pensions and investments to then London mayor Boris Johnson.The idea was for Truell to drive forward collaboration between public sector pension funds for investment in infrastructure and housing in London and across the rest of country, with Johnson eyeing the creation of a “Citizens’ Wealth Fund”. More broadly the intention was that Truell would advance the cause of pension consolidation across the LGPS and UK public sector pension funds more generally. Within the LGPS, this consolidation is now happening in the form of the creation of six new asset pools in addition to the already operational LPP and London CIV. Disruptive Capital, the private equity business and family office of Edi Truell, is going public in a bid to attract investment from the country’s emerging local authority asset pools and other “sophisticated” investors.It intends to list on Switzerland’s SIX stock exchange as Disruptive Capital AG (DCAG), with ambitions to develop into a larger private asset manager.“DCAG, backed by highly successful families, aims to develop into a ‘one-stop solution’ for sophisticated investors, including pension funds,” it said in a statement.“Significant co-investment opportunities are offered on a deal-by-deal basis to its investors to give them the ability to tailor their own asset allocation around that of DCAG.” Speaking to IPE, Truell – the self-proclaimed architect of the consolidation of UK public sector funds – said one of the motivations for listing was to facilitate investors exchanging their current portfolios, “plus or minus more cash”, for listed shares in DCAG.The new asset pools being formed by local government pension schemes (LGPS) in the UK were inheriting “a whole ragbag of stuff” from their member pension funds, and it was these historical portfolios that they could swap for shares in a single listed vehicle, according to Truell.He said the government was pushing pension funds to use listed vehicles rather than more complicated partnerships and other such investment structures, because it made governance easier from the perspective of the pension funds.Another motivation for listing Disruptive Capital, according to Truell, was to make it easier to raise capital quickly so that the company could act as cornerstone investor for some of the large transactions it had underway.Asked why Disruptive chose Switzerland for a listing, Truell said it was one of few stable markets around and that moving family assets back to the UK did not appeal on account of “the political risk of Jeremy Corbyn and his nice friends”.“It doesn’t seem like a sensible place for a long-term vehicle to be,” he said. “We prefer to have our assets in Switzerland rather than subjected to political vagaries.”last_img read more