My company is going into new countries, everybody in the administration is taking an English course. During this course one teacher claimed that you should never, never use the greeting “Best regards”. Instead you should use “Yours sincerely” or “Kind regards”.
Well, when I went to business School in 1979 I only learned that you should only use the phrase "Yours faithfully,".
I have been reading the treads concerning this issue on the site. Frankly, I have just become more confused.
Reading this very long tread I think that one should conclude that if you know the person, you can use "Yours sincerely", and if you do not know the person, you should use "Yours faithfully".
Is this correct?
Someone wrote that you might capitalize the first letter in both words. What is the significance of that and what would it mean?

Yours faithfully,

Benny Bubel

More: Yours sincerely or Sincerely yours
  For example:
Dear sir/madam,
(letter.. )
Yours faithfully, or yours sincerely, or thanks,
 This thread has been running for three years. It's time to end additional comments on something that seems to have been resolved.