Search Results for: regulators
Law Firms’ Accounts Pose Money-Laundering Risk
December 27th, 2016
Law Firms’ Accounts Pose Money-Laundering Risk Hundreds of millions of dollars allegedly siphoned from Malaysian state fund 1MDB passed through firms’ pooled accounts in U.S., prosecutors say Tens of billions of dollars every year move through opaque law-firm bank ...
Toshiba may book loss of several hundreds of billion yen; stock tumbles 12 percent
December 27th, 2016
Toshiba Corp (6502.T) said it may book a goodwill impairment loss of several hundreds of billion yen on a U.S. nuclear power acquisition – a shock warning that sent it stock tumbling 12 percent and rekindled concerns about its ...
Volkswagen reaches compensation deal with 80,000 US owners
December 23rd, 2016
A federal judge said on Thursday that Volkswagen has reached an agreement in principle to provide “substantial compensation” to the owners of about 80,000 3.0 liter polluting diesel vehicles, a key hurdle to resolve the German automaker’s emissions scandal. ...
Robo-advisors require ongoin monitoring
December 22nd, 2016
On-line technology tools are having an important impact on the investment advice value chain, including services such as asset allocation, portfolio selection and trade execution, according to a report issued today by the Board of the International Organization of ...
IOSCO identifies risks to retail investors of OTC leveraged products
December 21st, 2016
The International Organization of Securities Commissions (IOSCO) issued today a report that identifies various risks related to the marketing and sale of complex OTC leveraged products to retail investors, and describes how some regulators are responding to the challenges ...
Facebook Faces EU Scrutiny Over WhatsApp Purchase
December 21st, 2016
The European Union on Tuesday accused Facebook Inc. of giving “incorrect or misleading information” to investigators who were probing its purchase of chat app WhatsApp in 2014, a surprise charge that exposes the company to a hefty fine. The ...
KPMG UK has announced an increase in revenues; breaks £2bn barrier
December 19th, 2016
KPMG has announced an increase in revenues from £1,958m to £2,068m. Mid-market tax, transaction services and management consulting achieved double digit growth The firm created approximately 1,500 new jobs, with total staff now just over 13,000 KPMG, the professional ...
Blockchain pilot in commercial real estate
December 19th, 2016
ABN AMRO has launched a pilot to explore how the blockchain application Torch can help parties involved in real estate transactions record and exchange information. Real estate transactions involve numerous parties, such as buyers, sellers, tenants, landlords, appraisers, notaries, ...
Fairfax Financial to Acquire Allied World for $4.9 Billion in Cash and Stock
December 19th, 2016
Cash and share offer with dividend for total value of $54.00 per Allied World share – $10.00 in cash and $44.00 in Fairfax Shares 18% premium to the last close per Allied World share Fairfax has the option to ...
ASIC releases world-first licensing exemption for fintech businesses
December 16th, 2016
ASIC has today released class waivers to allow eligible financial technology (fintech) businesses to test certain specified services without holding an Australian financial services or credit licence. ASIC Commissioner John Price said, ‘ASIC’s ‘fintech licensing exemption’ is unique. No ...
