Daily Archives: 25/07/2016
NYC Audit Firm to pay penalty for failing to spot fraud in financial statements of a public company
July 25th, 2016
The Securities and Exchange Commission suspended an accountant for conducting a faulty audit of the financial statements of a public company that was committing fraud, and the firm where he was a partner at the time has been prohibited from ...
UnionPay takes top spot from Visa in $22 trillion global cards market
July 25th, 2016
Having been the largest scheme worldwide for card numbers since 2010, UnionPay overtook Visa to also become the largest by value of card payments in 2015 Payment cards worldwide increase by 8% to reach 13 billion in 2015 New ...
Precious Metals Slide on Stronger Dollar Before Fed as Yen Drops
July 25th, 2016
Ringgit falls sixth day to lead Asian currency declines Turkish stocks climb after steepest weekly drop since 2008 The dollar’s strength weighed on precious metals as investors looked toward central bank meetings this week in the U.S. and Japan. European ...
Jersey, Guernsey Eligible For EU Funds Passport
July 25th, 2016
The European Union securities regulator, the European Securities and Markets Authority, said there are no significant obstacles to extending the Alternative Investment Fund Managers Directive (AIFMD) passport to Guernsey and Jersey. ESMA’s view is contained in advice to the ...
Austria To Rein In Bank Tax
July 25th, 2016
The Austrian Government has proposed reducing the burden of the nation’s banking levy and calculating it based on a bank’s earnings rather than assets. The change was confirmed recently by Finance Minister Hans Jörg Schelling, who said that cutting ...
Cashier jailed after stealing office money from international law firm
July 25th, 2016
A cashier at a leading international law firm has been banned from the profession and served a jail sentence after stealing over £700,000. Juliette Holland, 46, was found to have misappropriated at least £727,597 of office money between March ...
SEC Halts Ongoing Fraudulent Stock Scheme
July 25th, 2016
The Securities and Exchange Commission today announced it has won a court-ordered asset freeze to halt an ongoing fraud by two former brokers with disciplinary histories who allegedly raised more than $5 million from investors without using the money ...
The founder of the Bitcoin Savings and Trust company gets 18 months in prison for Fraud
July 25th, 2016
Trendon Shavers, the mastermind behind the disgraced Bitcoin Savings & Trust Ponzi scheme, has been sentenced to 18 months in prison on one count of securities fraud. In addition, Shavers was ordered to forfeit $1.23 million and to pay ...
Lexmark shareholders approve merger agreement
July 25th, 2016
Lexmark International, Inc. today announced that its shareholders have approved the definitive merger agreement under which Lexmark is to be acquired by a consortium of investors led by Apex Technology Co., Ltd. and PAG Asia Capital and including Legend ...
Verizon to announce $5 billion deal to buy Yahoo on Monday: source
July 25th, 2016
Verizon Communications Inc (VZ.N) will announce an agreement on Monday to buy Yahoo Inc (YHOO.O) for about $5 billion, according to a person familiar with the matter. The announcement will come before the start of New York trading hours, ...
