Search Results for: EU Commission
Bulgarian regulator to fine KPMG over Corpbank audit
January 9th, 2015
A Bulgarian regulator said on Thursday it will fine the global accounting firm KPMG and two of its employees, saying they did not properly vet the books of Corporate Commercial Bank before it was hit by a run on ...
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 ...
US city files suit against Brazil’s Petrobras for securities fraud
December 30th, 2014
The City of Providence, Rhode Island filed a class action suit against Brazil’s state-run oil company Petrobras on Wednesday in the US District Court for the Southern District of New York. The complaint alleges Petrobras engaged in a fraudulent ...
CySec: acquisition of CIF (Cyprus Investment Firms) licence
December 29th, 2014
The Cyprus Securities and Exchange Commission (CySec) the Cypriot financial regulatory authority, has announced that “FX Primus Europe (CY) Ltd.“ has successfully obtained the CySec licence for CIF (Cyprus Investment Firms). The firm is now authorised to operate legally ...
ESMA provides implementing rules for MiFID II
December 22nd, 2014
The European Securities and Markets Authority (ESMA) has published on December 19 its final technical advice (TA) and launches a consultation on its draft regulatory technical and implementing standards (RTS/ ITS) regarding the implementation of the Markets in Financial ...
IMF holds back Cyprus bailout funds
December 19th, 2014
International Monetary Fund says expected tranche of €88m will not be paid after parliament suspended new foreclosure law The International Monetary Fund has said it will not release a further €88m (£69m/US$108m) in bailout money for Cyprus on Friday ...
Luxembourg Agrees to Share Details of Corporate Tax Deals
December 19th, 2014
Luxembourg agreed Thursday to share with the European Commission information on tax deals secured by multinational companies with operations in the small nation. Xavier Bettel, Luxembourg’s prime minister, said the decision came after the European Union’s executive also asked ...
Hong Kong-based audit firm and two accountants charged by SEC
December 18th, 2014
The Securities and Exchange Commission imposed sanctions against a Hong Kong-based audit firm and two accountants for failing to properly audit year-end financial statements of a company that the SEC has charged with fraud. An SEC investigation found that Baker ...
ASIC investigation leads to Interactive Brokers refunding $1.5 million to Australian customers
December 16th, 2014
Following an investigation by ASIC, Interactive Brokers LLC (IB), a US-based online brokerage firm, will refund approximately $1.5 million in fees and commission payments to its retail margin lending customers. The refunds will be made as part of an ...
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 ...
