business Archives - Page 3 of 11 - The Industry Spread

Wedbush to Pay More Than $8.1 Million for Improper Handling of ADRs

June 25, 2019

The Securities and Exchange Commission today announced that Wedbush Securities Inc. will pay more than $8.1 million to settle charges for improper handling of “pre-released” American Depositary Receipts (ADRs). This is the SEC’s 11th action against a bank or broker resulting from the SEC’s ongoing investigation into abusive ADR pre-release practices, which, thus far, has resulted in monetary settlements exceeding $422 million.

KPMG Paying $50 Million Penalty for Illicit Use of PCAOB Data and Cheating on Training Exams

June 23, 2019

The Securities and Exchange Commission today charged KPMG LLP with altering past audit work after receiving stolen information about inspections of the firm that would be conducted by the Public Company Accounting Oversight Board (PCAOB).  The SEC’s order also finds that numerous KPMG audit professionals cheated on internal training exams by improperly sharing answers and manipulating test results. 

Fullerton Markets Provides Fund Safety and Education Services to Fund Manager

June 23, 2019

Fullerton Markets, the ASIC-regulated foreign exchange broker, has partnered with fund management company Colossus Securities to provide them with fund safety and financial literacy services.

Colossus Securities leverage its team’s years of experience in the forex and equity markets – with stock market analysis and investment planning being their core strenghts – to assist the firm’s global clients in establishing their financial plans and maximizing their benefits.

Switzerland and Netherlands Sign Protocol of Amendment to Double Taxation Agreement

June 19, 2019

Bern, 12.06.2019 – On 12 June 2019 in the Hague, Switzerland and the Netherlands signed a protocol of amendment to the double taxation agreement with respect to taxes on income (DTA). The protocol implements the minimum standards for double taxation agreements. It also clarifies some concepts and also adapts the DTA to the current treaty policy of the two states.

President Ueli Maurer meets Japan’s Prime Minister Shinzō Abe and represents Switzerland at G20 meeting of finance ministers

June 19, 2019

Bern, 10.06.2019 – President Ueli Maurer was received by Japan’s Prime Minister Shinzō Abe on 10 June 2019. The discussion was dedicated to the long-standing, excellent relations between Switzerland and Japan. In addition to regional topics, the central challenges for the global financial and economic system, which President Maurer addressed at the weekend meeting of the G20 meeting Finance Ministers and Central Bank Governors in Fukuoka, were also discussed.

Kiwis Take Longer to Choose a Movie Than Check KiwiSaver

June 19, 2019

Many New Zealanders spend longer choosing a movie to watch than reading and acting on their annual KiwiSaver statement.
A recent survey of 1100 New Zealanders for the Financial Markets Authority (FMA) found four out of five people took up to 10 minutes to choose a movie, but just over half of those questioned spent the same time reading their KiwiSaver annual statement.

SEC Announces 2019 Government-Business Forum to Be Held in Omaha

June 16, 2019

The Securities and Exchange Commission today announced that it will host the 38th annual Government-Business Forum on August 14, 2019, in Omaha, Nebraska.  The Forum provides a platform to highlight perceived impediments to capital formation, culminating in recommendations for government and private action to improve the environment for small businesses.  The Forum will be hosted in partnership with the Heider College of Business at Creighton University.