Search Results for: compliance
ISDA Publishes EMIR Classification Letter
July 15th, 2015
The International Swaps and Derivatives Association, Inc. (ISDA) has published a new classification letter that will enable counterparties to notify each other of their status for clearing and other regulatory requirements under the European Market Infrastructure Regulation (EMIR). Financial ...
Emerging Challenges Facing Tax Policymakers and Administrations in the Area of International Taxation and Transfer Pricing
July 14th, 2015
From July 7-9, 2015, senior tax administrators and tax policy officials from 26 countries throughout Europe and Central Asia as well as experts from the WU University and the World Bank met in Vienna, Austria to share experiences and ...
Dirty Dealing: China and International Money Laundering
July 13th, 2015
In the midst of turmoil in the Chinese stock markets, one serious problem that may appear is increased currency outflows created by current and potential investors who would rather move their assets to foreign countries viewed as safer havens. Money laundering should be under close surveillance. ...
CySec: Withdraw of CIF authorisation
July 10th, 2015
The Cyprus Securities and Exchange Commission (CySec) the Cypriot financial regulatory authority, has issued an announcement informing that: On its meeting of 6 July 2015, has decided, pursuant, of section 25(1), subparagraphs (b) and (c) of the Investment Services ...
The Neo-Marxist Threat to National Economies
July 10th, 2015
The theatricals and melodrama of the current Greek crisis mask a far more serious issue than mere political entertainment. The self-created sequence of threats to Greece i.e. sovereign debt default, bankruptcy, Eurozone exit and relegation to the status of ...
Italy Ratifies FATCA Agreement with US
July 10th, 2015
Italy has ratified the inter-governmental agreement top facilitate compliance with the United States Foreign Account Tax Compliance Act. FATCA, enacted by the US Congress in 2010, is intended to ensure that the US obtains information on accounts held abroad ...
Justice Department Announces Two Banks Reach Resolutions under Swiss Bank Program
July 10th, 2015
Banque Pasche SA Will Pay $7.229 Million Penalty and ARVEST Privatbank AG Will Pay $1.044 Million Penalty; Both Continue to Cooperate With Department of Justice The Department of Justice announced today that two banks, Banque Pasche SA and ARVEST ...
Saxo Bank receives two reprimands by Finanstilsynet (the Danish FSA) in relation to its handling of the CHF incident on 15 January 2015
July 10th, 2015
The Danish FSA has reviewed Saxo Bank A/S handling of the CHF incident and finds no reason to criticise the Bank except for two specific issues. The Danish FSA concludes that the method applied by Saxo Bank contributes to ...
Greece Enters Its Crack-Up Boom
July 9th, 2015
The Austrian School of economics has a concept called a “crack-up boom” in which a critical mass of people conclude that their government is actively trying to devalue its currency. Consumers respond by front-running the government, spending their paychecks ...
CySec has issued an announcement regarding Activation Procedures for Autorized Firms
July 9th, 2015
CySec has issued today an announcement regarding Activation Procedures for Autorized Firms specifying that: In order to improve the process of activation of persons who have obtained licence by the Cyprus Securities and Exchange Commission (“CySEC”) and in order to ...
