Search Results for: MoU
SEC Fines NYSE for rule violations
May 2nd, 2014
The New York Stock Exchange’s $4.5 million penalty for oversight violations represents the Securities and Exchange Commission’s first salvo since Michael Lewis reignited scrutiny of market structure. NYSE, which was bought by IntercontinentalExchange Group Inc. (ICE) last year, agreed ...
Alstom to consider $17bn General Electric offer
April 30th, 2014
French engineering company Alstom is considering a $16.9bn (£10bn) offer from US firm General Electric (GE) for its energy business. But the French firm said it would be open to a rival bid from German firm Siemens, which is ...
A look on FASB’s new standards
April 30th, 2014
In December 2002, five months after he became chairman of the Financial Accounting Standards Board, Robert Herz told a conference of auditors that FASB had set a “very ambitious” deadline for issuing a sweeping new standard that would govern ...
U.K.’s Transaction Tax Plan on hold by the European court
April 30th, 2014
The U.K. lost a bid to counter plans by 11 European Union nations for a common financial-transactions tax, after the bloc’s top court said it was too soon to rule on the legality of the move. The European Court ...
UK economy is fast growing
April 30th, 2014
The U.K. now has one of the fastest-growing economies in the developed world. With growth expanding at a 3 percent annual rate as a strong housing market and manufacturing lead the way, the country’s economy is the envy of ...
Bank of America Lost $2.7 Billion in a Maze of Accounting
April 29th, 2014
Last month, Citigroup failed the Fed’s stress test because, even though it would meet minimum capital requirements in a severely adverse scenario, the Fed wasn’t comfortable with Citi’s capital planning process. Meanwhile, Bank of America passed the stress test ...
Invesco Fined, EU Stress Test, Libor Charges: Compliance
April 29th, 2014
Invesco Perpetual (IPE) was fined 18.6 million pounds ($31.3 million) for failing to comply with risk limits or tell clients about the use of derivatives as leverage in their funds. Invesco Perpetual, the largest retail investment manager in the ...
“Killer B” anti-abuse regulations are on the way
April 29th, 2014
Recognizing that taxpayers are exploiting the rules in ways it had not intended, the IRS on Friday announced that it will amend the existing regulations on cross-border reverse triangular reorganizations, popularly known as “Killer B” transactions (Notice 2014-32). Killer ...
China opens first forex trading centre on border with Vietnam
April 28th, 2014
China has opened a currency trading center, the first of its kind in the country, on the China- Vietnam border to end rampant illegal private forex trading. The ASEAN (Association of Southeast Asian Nations) Currency Business Center, will allow ...
Buy London Mansions on Russia Sanctions
April 28th, 2014
Targeted sanctions against Russians and pro-Russian Ukrainians are proving a boon to London’s real estate market. Some of the $51 billion that fled Russia in the first quarter of 2014 is headed there, with attempts by the U.K. government ...
