Search Results for: EY
Introduction to Money Laundering
January 7th, 2015
Definition of money laundering Money Laundering is the process by which criminals attempt to conceal the true origin and ownership of the proceeds of their criminal activities. If undertaken successfully, it allows them to maintain control over those proceeds ...
29-Year-Old Russian Hedge Fund Founder Disappears With All The Firm’s Money
January 5th, 2015
The value of the ruble isn’t the only thing that is vanishing in Russia. A Moscow hedge fund chief executive has disappeared, along with all the money in the firm’s accounts. That’s according to a stunning feature in The ...
Nasdaq to buy Dorsey Wright for $225 million
January 5th, 2015
Nasdaq OMX Group Inc. agreed to acquire index provider and analytics group Dorsey, Wright & Associates LLC for $225 million, as the exchange operator expands its exchange-traded fund and so-called smart-beta indexing segments to diversify its business. The deal, ...
Greek stocks tank after key vote fails
December 29th, 2014
Greek stocks plunged today after a key vote failed to result in a new president, pushing the country further towards political crisis. Greece’s blue chip index fell as much as 11 per cent weighed down by banks such as ...
FINRA Fines Wells Fargo Advisors and Wells Fargo Advisors Financial Network $1.5 Million for Anti-Money Laundering Failures
December 19th, 2014
Firms Failed to Subject Over 200,000 New Accounts to Identity Verification The Financial Industry Regulatory Authority (FINRA) today announced that it has ordered two St. Louis-based broker-dealers under common control, Wells Fargo Advisors (WFA) and Wells Fargo Advisors Financial ...
Russia’s economic crisis: five key charts
December 18th, 2014
Russia and its president, Vladimir Putin, have been left out in the economic wilderness as sanctions imposed by the west, a tanking oil price, and plunging rouble take their toll. Here are five key charts. Growth in Russia is ...
New crowdfunding site helps individuals raise money for legal fees
December 16th, 2014
While reading the book Things a Little Bird Told Me last spring, Chicago attorney Michael Helfand was struck by one of author Christopher Isaac “Biz” Stone’s points. Stone, who co-founded Twitter, wrote that an entrepreneur solves problems—and Helfand considers ...
Switzerland bows to pressure; Tightens money-laundering rules
December 15th, 2014
The Swiss Parliament has bowed to international pressure, tightening the country’s money-laundering rules. There will be a CHF100,000 ($104,000) cap on cash transactions, and not just foreign dictators, but also senior politicians and officials like Sepp Blatter, will be ...
Disney and Skype ‘used Luxembourg tax deals’
December 12th, 2014
Companies including Disney and Skype have allegedly used Luxembourg tax deals, according to fresh leaks published by investigative journalists. The group of firms funnelled hundreds of millions of dollars in profits through Luxembourg subsidiaries, according to leaked documents. Disney ...
SEC Penalizes Morgan Stanley for Violating Market Access Rule
December 11th, 2014
The Securities and Exchange Commission today penalized Morgan Stanley & Co. LLC for violating the market access rule when it failed to uphold credit limits for a customer firm with a rogue trader who engaged in fraudulent trading of ...
