Search Results for: PRA
Decline and Fall of the Demagogues
December 19th, 2014
This article could have been entitled ‘The Bonfire of the Vanities’ (with apologies to the book’s author Tom Wolfe) as it too is all about ruthless ambition, political sleaze and rampant greed. However, as vanity in others is regarded ...
KPMG pre-tax profits dip 9% as tax regulation bites
December 19th, 2014
KPMG has reported a 5% growth in revenues but pre-tax profits fell as the firm made a series of investments in new business lines, while its tax practice felt the impact of an increased regulatory burden Revenues for the ...
All EU member states told to release tax ruling information
December 18th, 2014
All EU member states have now been drawn into the European Commission’s investigation into the use of tax rulings to offer preferential tax treatment to multinationals The Commission has extended the scope of its enquiry into tax rulings practice ...
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 ...
Numerix announced next generation Unified Risk Platform for Front Office Trading and Enterprise Risk
December 17th, 2014
Numerix (www.numerix.com) anounced the immediate availability of Numerix XVA, a single platform for enterprise level risk management and front office risk calculations, including pre-trade XVA pricing and profitability measures. As a full stack enterprise solution of real-time counterparty credit ...
ACCA Report
December 17th, 2014
The way in which companies report the risks they face needs to improve and move away from being too bland, too generic, too wordy and too biased on the positive, says a new report from ACCA (the Association of ...
Improvements needed in CRAs surveillance of structured finance credit ratings
December 17th, 2014
The European Securities and Markets Authority (ESMA) has published a report on the findings of its investigation into the way credit rating agencies (CRA) conduct surveillance of their structured finance credit ratings. The investigation, which took place between October ...
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 ...
HSBC sets aside head of European forex trading
December 11th, 2014
HSBC has sacked its European currency trading chief in the wake of a huge $618m (£394m) fine for manipulating the £3.3trn a day foreign exchange market. The bank is understood to have “let go” Stuart Scott on Tuesday following ...
