Search Results for: Ether
HM Treasury, the BoE and the Financial Conduct Authority announce Fair and Effective Markets Review
June 12th, 2014
The British government has announced in a press release publishing the Fair and Effective Markets Review the strategic steps to follow in order to raise standards of conduct in the financial system. The review was conducted jointly by the Treasury, the ...
RBNZ raises OCR to 3.25 percent
June 12th, 2014
The Reserve Bank of New Zealand (RBNZ) has issued a press release informing that it has increased the Official Cash Rate (OCR) by 25 basis points to 3.25 percent. New Zealand’s economic expansion has considerable momentum, with GDP estimated ...
FASB Seeks to Simplify Accounting Rules
June 12th, 2014
With an eye on simplification, the Financial Accounting Standards Board has taken up a few short-term projects to cut some unnecessarily complexity out of accounting rules and finalized new rules for development-stage entities. FASB recently decided based on constituent ...
Europe Bankers Cringe at Rising U.S. Fines Amid BNP Probe
June 12th, 2014
HSBC Holdings Plc (HSBA) Chairman Douglas Flint had some advice for bank executives meeting in London last week: Read up on how the U.S. uses financial warfare against its enemies in a foreign-policy shift that’s entangling lenders. Since HSBC ...
PCAOB Cracks Down on Fraud
June 12th, 2014
A new PCAOB standard will require auditors to probe more deeply into related-party deals, unusual transactions and executive pay. Citing “decades of financial reporting frauds,” the Public Company Accounting Oversight Board yesterday issued new rules aimed at tightening auditor ...
FSA agrees on mutual Reliance with Foreign Jurisdictions in the Area of Audit Oversight
June 11th, 2014
The Japanese Financial Services Agency (FSA) and the Certified Public Accountants and Auditing Oversight Board (CPAAOB) published “A Framework for Inspection / Supervision of Foreign Audit Firms, etc.” on September 14, 2009, and stated that with respect to information ...
New rules for providing written tax advice are finalized
June 11th, 2014
The IRS issued final regulations under Circular 230, Regulations Governing Practice Before the Internal Revenue Service (31 C.F.R. Part 10), on the rules for practitioners to provide written tax advice and certain other related provisions (T.D. 9668), adopting the ...
Slow Your Judgments on Fast Trading
June 11th, 2014
In a recent pair of articles, hedge-fund magnate Cliff Asness defended high-frequency trading against most of the attacks that have been leveled against it. Asness is known for his strong opinions. And while I’m generally on his side in ...
Microsoft fights U.S. search warrant for customer e-mails held in overseas server
June 11th, 2014
Microsoft, one of the world’s largest e-mail providers, is resisting a government search warrant to compel the firm to turn over customer data held in a server located overseas. In what could be a landmark case, the Redmond, Wash., ...
Asian stocks weak on world bank growth downgrade
June 11th, 2014
Asian stock markets were weak on Wednesday, dragged down by the World Bank’s lower global growth forecast. The bank cut its forecast for global economic growth this year to 2.8 percent from the 3.2 percent it forecast in January. ...
