Search Results for: law
SEC announced settlement of charges with two UBS Advisory Firms
October 20th, 2015
Two UBS Advisory Firms Settle Charges Arising From Failure to Disclose Change in Investment Strategy Settlement Will Return More Than $13 Million to Harmed Investors The Securities and Exchange Commission announced that two UBS advisory firms have agreed to settle ...
Ex-Rabobank Trader Says `Libor Time’ Was Call to Fix Rates
October 20th, 2015
Second former trader testifying against colleagues at trial Libor tied to more than $350 trillion of loans and securities “It’s Libor time.” That was the call ahead of Rabobank Groep’s daily morning Libor submission as bank employees gathered to rig ...
Egypt central bank devalues pound again to 7.93 per dollar
October 19th, 2015
Egypt’s central bank weakened the value of the Egyptian pound against the dollar Sunday for the second time in a week. The bank said in a statement that it weakened the pound at an auction, dropping the value from ...
Silver as money
October 16th, 2015
Gold is money, admittedly not often circulating as such today. Fiat currencies issued by governments have driven gold out of circulation. But where does this leave silver? Money-substitutes, bank notes and bank deposits, were originally backed by physical silver, ...
First Data Announces Pricing of its Initial Public Offering
October 16th, 2015
First Data (“First Data”) announced the pricing of its initial public offering of 160,000,000 shares of its Class A common stock at $16.00 per share. Shares of First Data’s Class A common stock are expected to begin trading on ...
CySec announced an administrative fine to CLR Overseas Ltd
October 16th, 2015
The Cyprus Securities and Exchange Commission ( CySEC ) has notified the public that at the meeting held on February 16th, 2015, decided to impose an administrative fine of €10.000 to CLR Overseas Ltd for the violation of section ...
The Common Reporting Standard: Automatic Information Exchange Goes Global
October 16th, 2015
Automatic exchange of information for tax law enforcement purposes started first in Europe with the EU Savings Tax Directive, went international with the US Foreign Accounts Tax Compliance Act, and, from 2017, will go global with the recently-agreed Common ...
The Paradox of Risk: Central Planning Is Linear, Reality Is Non-Linear
October 15th, 2015
You thought it was safe to drive 90 miles an hour on a rain-slicked narrow road while you were tipsy because the airbag would save you, but it still hurts when you crash. I first discussed the Paradox of Risk in ...
Apple faces $400 million in damages in patent fight
October 15th, 2015
Apple’s potential damages in a patent fight with the University of Wisconsin’s licensing body could reach $400 million as a trial on the amount Apple owes for infringing a processor patent got under way on Wednesday, two people familiar ...
Investor Seeks to Hold Ernst & Young Liable for Madoff Losses
October 15th, 2015
Court papers show FutureSelect invested about $200 million Ernst & Young failed to serve as a gatekeeper for a Washington investment firm that sank millions of dollars into Bernard Madoff’s investment firm and should be held liable for its losses, ...
