We have gotten dozens of calls and emails regarding NeTeller. At this time, itis still business as usual for the payment processing giant.<\/p>\n
However, here is the statment from NeTeller to its shareholders:<\/p>\n
NETELLER Plc (LSE:NLR), a leading online money transfer service provider, notes
\nthe recent action early on Saturday 30 September by US Congress to pass HR 4954,
\nthe Safe Port Act (the “Act”) which includes certain provisions to prohibit
\nunlawful internet gambling through the restriction of payments to such sites.<\/p>\n
The Act further states that there will be a period of up to 270 days beginning
\non the date of the enactment for a board including the US Federal Reserve and
\nthe US Attorney General to prescribe regulations requiring each designated
\npayment system and all participants therein to identify and block or otherwise
\nprevent or prohibit restricted transactions.<\/p>\n
The Company, in conjunction with its advisers, is considering the potential
\nimpact of the Act at this time. The Board believes that the Act may have a
\nmaterial adverse effect on NETELLER’s US facing business. Once the Company has
\nmore information about what the regulations will stipulate, it will have a
\nclearer view of which companies are affected, how those companies will be
\nexpected to comply, and any possible resulting impact on the Company. In the
\nmeantime, the Company will continue to monitor the progress of this legislation
\nand to energetically plan and adapt NETELLER’s business to minimise any
\npotential adverse impact. The Company will remain focused on developing its
\nbusiness in line with its stated strategic objectives including geographical and
\nproduct diversification.<\/p>\n
The Company’s next trading update for the third quarter will be issued towards
\nthe end of October 2006. In the meantime, the Company will endeavour to keep
\nshareholders informed of any material developments.<\/p>\n","protected":false},"excerpt":{"rendered":"
Rumors are flying regarding NeTeller<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-164","post","type-post","status-publish","format-standard","hentry","category-promotions"],"_links":{"self":[{"href":"https:\/\/www.osga.com\/wordpress\/wp-json\/wp\/v2\/posts\/164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.osga.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.osga.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.osga.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.osga.com\/wordpress\/wp-json\/wp\/v2\/comments?post=164"}],"version-history":[{"count":0,"href":"https:\/\/www.osga.com\/wordpress\/wp-json\/wp\/v2\/posts\/164\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.osga.com\/wordpress\/wp-json\/wp\/v2\/media?parent=164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.osga.com\/wordpress\/wp-json\/wp\/v2\/categories?post=164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.osga.com\/wordpress\/wp-json\/wp\/v2\/tags?post=164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}