Search Results for: UBS AG
China Auditor Blames CIC Mismanagement for Investment Losses
June 18th, 2014
Mismanagement at China Investment Corp., the nation’s $575 billion sovereign wealth fund, led to overseas investment losses that could widen, according to the National Audit Office. A dereliction of duty by managers, inadequate due diligence and post-investment management were ...
Federal Banking Regulators Finalize Joint Supplemental Guidance on Income Tax Allocation Agreements
June 16th, 2014
U.S. Federal banking regulators issued final supplemental guidance on income tax allocation agreements involving holding companies and insured depository institutions. An aim of the guidance is to reduce confusion regarding ownership of tax refunds. The guidance supplements an interagency ...
FASB revises standard for accounting of repurchase agreements
June 13th, 2014
FASB on Thursday issued a revised standard that addresses investors’ concerns with the financial reporting of repurchase agreements and brings U.S. GAAP accounting for such transactions into closer alignment with IFRS. Under the updated standard, Transfers and Servicing (Topic ...
Hedge Fund Manager Jarkesy Loses Bid to Toss SEC Case
June 11th, 2014
Houston hedge-fund manager George Jarkesy Jr. must face a U.S. Securities and Exchange Commission case in which he was accused of steering bloated fees to the John Thomas Financial Inc. brokerage. Jarkesy lost a bid to throw out the ...
SEC Obtains Asset Freeze to Halt Fraud at Illinois-Based Transfer Agent
May 29th, 2014
The Securities and Exchange Commission announced fraud charges and an emergency asset freeze against an Illinois-based transfer agent and its owner whose misappropriation scheme was exposed during an SEC examination of the firm. Transfer agents are typically used by ...
Credit Agricole Said to Accuse EU of Bias in Euribor Case
May 28th, 2014
Credit Agricole SA (ACA), which refused to settle an antitrust probe over Euribor manipulation, accused European Union regulators of bias and said they should step down from the case, according to two people with knowledge of a letter the ...
ASIC takes civil action against Astra Resources and its directors
May 21st, 2014
The Australian Securities and Investments Commission (ASIC) has started legal action against Astra Resources PLC (Astra Resources) and its directors, alleging the company illegally raised more than $7.6 million from almost 300 Australian investors between September 2011 and September ...
SEC Charges Three Sales Managers With Insider Trading Ahead of Major Acquisition
May 13th, 2014
The U.S. Securities and Exchange Commission has charged three former sales managers at San Diego-based Qualcomm Inc. with insider trading ahead of a major acquisition announcement. The SEC alleges that Derek Cohen, Robert Herman, and Michael Fleischli learned through ...
Hong Kong, US Wrapping Up FATCA Agreement
May 13th, 2014
Hong Kong and the United States have substantially concluded discussions on an inter-governmental agreement (IGA) to simplify Hong Kong financial institutions’ compliance with the Foreign Account Tax Compliance Act. The Financial Services and the Treasury Bureau (FSTB) said that ...
Draghi Sets Clock Ticking for June Stimulus by ECB
May 9th, 2014
Mario Draghi has given himself a month to craft a new fix to the European Central Bank’s deflation angst. Cutting the euro area’s benchmark interest rate to a record tops the list of options for the ECB President after ...
