Search Results for: US authorities
Interview with Danièle Nouy, Chair of the SSM
August 26th, 2014
Interview with Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism (SSM), conducted by Theano Theiopoulou from Phileleftheros newspaper: 1. How is preparatory work for the Single Supervisory Mechanism (SSM) progressing? Will everything be ready by 4 November? As ...
Swiss Bank Pictet Reveals Results for First Time
August 26th, 2014
The Swiss private bank Pictet Group reported its financial results publicly for the first time in its 209-year history on Tuesday, showing a profit and highlighting continuing changes in Switzerland’s traditionally secretive banking culture. Pictet, a privately held wealth ...
IMF urges St Vincent and Grenadines to Improve Tax Compliance
August 25th, 2014
The International Monetary Fund (IMF) has called on the authorities in St Vincent and the Grenadines to take steps to improve tax compliance. Tax compliance in the Caribbean territory has declined by about 20 percentage points since 2008 to ...
BofA Tax Set-Aside and Wylys Penalty
August 25th, 2014
Bank of America Corp. must set aside $490 million of its Aug. 21 $16.7 billion settlement to cover taxes that borrowers face on forgiven mortgage debt — a step taken by the Justice Department to give homeowners relief that ...
BofA settlement targets distressed borrowers
August 22nd, 2014
Bank must provide about $7 billion in aid to mortgage borrowers over four years. Bank of America’s $16.65 billion settlement with the federal and state authorities, targets low-income homeowners and distressed mortgage owners who were hit by the foreclosure ...
Florida man admits hiding $1.1M from IRS
August 20th, 2014
An 83-year-old Florida man pleaded guilty Tuesday to hiding at least $1.1 million from the IRS in secret Switzerland and Israel bank accounts for more than a quarter century. Delray Beach resident Bernard Kramer, held the secret accounts from ...
OSC warns against unlicensed firm
August 19th, 2014
The Ontario Securities Commission (OSC) has become aware of an unlicensed firm and therefore has issued a warning against the firm to protect potential traders. OSC informs investors that the company under the name “Global Proprietary Traders Inc.”, o/a ...
Ex-Rabobank trader guilty in Libor probe
August 19th, 2014
A former employee of Rabobank on Monday became the second of the Dutch bank’s ex-traders to plead guilty in a criminal plot to manipulate a global financial benchmark used to set rates on trillions of dollars in loans. United ...
Bank Overseer PwC Faces Penalty and Sidelining of Regulatory Consulting Unit
August 18th, 2014
The giant consulting firm PricewaterhouseCoopers occupies a position of trust on Wall Street, acting as a shadow regulator of sorts that promises the government an impartial look inside the world’s biggest banks. But the firm – hired and paid ...
Anti-Terrorism Trial of Mideast Bank Worries the Financial World
August 14th, 2014
The judge called it the Beirut account. It was a basic bank account at Arab Bank’s Al-Mazra branch in Beirut, Lebanon, unremarkable except for the name on the account: Osama Hamdan, a spokesman for the terrorist group Hamas. The ...
