Archives
Auditors Favor Curbs on Changes to the Audit Report
June 23rd, 2014
Rather than divulge every worry that kept them up at night during an audit, some auditors feel that they should limit their reporting of “critical audit matters” to the anxieties they’ve reported to the audit committee, according to an ...
Hedge-Fund Hack Part of Bigger Siege: Cyber-Experts
June 23rd, 2014
The attack on a U.S. hedge fund’s network, which a cybersecurity contractor said last week disrupted the firm’s high-speed trading and stole its data, is but one among many. That is the assessment of more than a half-dozen computer ...
Philippines Arrests Ex-President Estrada’s Son Over Fund Scandal
June 23rd, 2014
Philippine authorities arrested a son of former President Joseph Estrada after a court found sufficient evidence to try him on charges of stealing at least 183.8 million pesos ($4.2 million) of development funds. Senator Jinggoy Estrada handed himself in ...
Qatar Rejects Tax Exemption For Foreign Investors
June 23rd, 2014
Qatar’s Advisory Council has rejected a proposal to exempt foreign individuals and institutional investors from capital gains and income tax on domestic stock market investments. The proposal, which was approved by the State Cabinet and the Financial and Economic ...
Commodities market overview
June 20th, 2014
A summary of trading in key commodities markets overseas: ENERGY Oil prices soared on escalating violence in Iraq, as government troops recaptured a major refinery and the US said it was sending in military advisers to train Iraqi forces. ...
Regulator Investigates Controls at Deutsche Bank Commodities Unit
June 20th, 2014
Germany’s top financial regulator recently investigated internal controls at Deutsche Bank AG’s commodities unit, according to a person familiar with the probe. The regulator, BaFin, sent a letter to the bank outlining its findings in April, this person said. ...
Emerging Markets: What Has Changed
June 20th, 2014
1) Russia continues to liberalize the currency and move to an inflation targeting regime 2) Political risk is rising in Poland 3) South Africa came under renewed rating downgrade pressures 4) The Chinese yuan’s one-way depreciating bet appears to ...
UBS Belgium Chief Charged in Multibillion-Euro Tax Probe
June 20th, 2014
Marcel Bruehwiler, chief executive of UBS AG’s (UBSN) Belgium unit, was charged in Brussels as part of a probe into a multibillion-euro tax fraud, accelerating the latest tax-evasion inquiry facing the Swiss bank. Prosecutors said the investigation deals with ...
Danske Defeat on Risk Weights Shows Regulatory Supremacy
June 20th, 2014
As regulators across Europe and the U.S. show signs of caving in to bank industry warnings that new rules risk hurting the economy, Denmark’s watchdog has just won a milestone battle against the nation’s biggest bank. Danske Bank A/S ...
Japan not regulating bitcoin, for the moment
June 20th, 2014
Japan’s leading Liberal Democratic Party said it decided against regulating bitcoin for the time being, after the collapse of Tokyo-based bitcoin exchange Mt. Gox prompted them to consider more scrutiny of the virtual currency. Mt. Gox, once the world’s ...
