Posts tagged with: "financial+services"
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16 Apr 2014, 11:40 am by Epstein Becker & Green, P.C.
By Andrea R. Calem Noncompliance with the Americans with Disabilities Act just became costlier. Pursuant to an inflation-adjustment formula, on March 28, 2014 the Department of Justice (“DOJ”) issued a final rule raising the civil monetary penalties assessed or enforced by the Civil Rights Division, including those assessed under Title III of the ADA (“Title III”). Title III prohibits public accommodations from discriminating against disabled individuals with respect to… [read post]
16 Apr 2014, 10:21 am by By MICHAEL J. DE LA MERCED
Shares in Moelis & Company closed about 4.6 percent above its initial public offering price, after the firm cut both the price of its I.P.O. and the amount of shares it sold amid the volatile stock market. [read post]
16 Apr 2014, 7:22 am by By HIROKO TABUCHI
In a statement, Mt. Gox said there were no prospects to restart its business and that it would most likely be liquidated. [read post]
16 Apr 2014, 4:31 am by By MICHAEL CORKERY
Bank of America reported a first-quarter loss of $276 million on Wednesday, as litigation costs increased to $6 billion in the quarter. [read post]
16 Apr 2014, 3:00 am by By NEIL GOUGH
The cash-and-stock deal calls for Citic to sell almost all of its operating assets to its Hong Kong-listed unit, Citic Pacific. [read post]
16 Apr 2014, 12:46 am by By CHAD BRAY
The bank reported quarterly earnings of 859 million Swiss francs, or about $976 million, compared with profit of 1.3 billion francs in the year-earlier period. [read post]
15 Apr 2014, 2:56 pm by By MICHAEL J. DE LA MERCED
The pricing of the offering below its expected range suggests that not even a strongly performing investment bank can escape the chill that has entered the I.P.O. market. [read post]
15 Apr 2014, 2:15 pm by By PETER EAVIS
The Fed chairwoman on Tuesday suggested some measures to reduce the risks for Wall Street firms. The measures include requiring banks to hold more capital. [read post]
15 Apr 2014, 12:50 pm by djacobson
APRA has released the final amended Prudential Standard APS 111 Capital Adequacy: Measurement of Capital (APS 111), which allows mutually owned ADIs to issue Additional Tier 1 (AT1) and Tier 2 (T2) Capital instruments that will qualify to be included in Common Equity Tier 1 (CET1) Capital provided they meet the requirements in Attachments B, F, J and K of APS 111.To qualify, the capital instruments must provide for conversion into mutual equity interests (MEI) in the event that the loss absorption… [read post]
15 Apr 2014, 12:30 pm by djacobson
Our CPD seminars are taking place in Sydney on 6 May and Brisbane on 13 May. The seminar will focus on the most important regulatory issues affecting financial services responsible managers today including conduct risk, privacy and credit reporting.Seats are limited. Book now.Transition period ends on 30 June 2014 The transition period for responsible managers of credit licensees to hold relevant qualifications ends on 30 June (see ASIC RG206 and PF 224).Licensees demonstrate organisational… [read post]
15 Apr 2014, 7:41 am by By CHAD BRAY
Crawford Gillies's addition to the board of directors comes after the British bank increased its bonus pool for last year despite a steep loss in the fourth quarter. [read post]
15 Apr 2014, 5:22 am by By CHAD BRAY
At a brief hearing in Westminster Magistrates’ Court, Danny Martin Wilkinson, Darrell Paul Read and Colin John Goodman only spoke to confirm their identities. [read post]
15 Apr 2014, 4:00 am by By MICHAEL J. DE LA MERCED
Laurence D. Fink wrote that he planned to continue to use the firm's financial might in speaking out for investors on matters like corporate governance. [read post]
14 Apr 2014, 11:23 am by By ANTONY CURRIE
Despite Citi's strong earnings, the bank is trading at just 83 percent of its tangible book value, the only major financial firm currently stuck at less than its net worth, Antony Currie writes in Reuters Breakingviews. [read post]
12 Apr 2014, 8:20 am by By MARY WILLIAMS WALSH
Pensions in multiemployer plans were once believed to be extremely reliable, but changing economic circumstances have left vulnerable the pools and the federal insurance plan meant to support them. [read post]
10 Apr 2014, 12:36 pm by djacobson
The Senate Economics Committee inquiry into the performance of ASIC has heard admissions of delays from ASIC’s Commissioners as well as a commitment to be more pro-active and transparent in responding to complaints.This video (3:11) from ABC’s The Business describes ASIC’s admissions as a mea culpa in relation to frauds by employees CBA’s financial planning arm and shows the Commissioners giving evidence.The post ASIC admits performance failures appeared first on Bright Law… [read post]
10 Apr 2014, 7:58 am by By MICHAEL J. DE LA MERCED
Shares in Ally opened at $24.25, or down 3 percent from the company's initial public offering price. Underwriters had already priced the stock sale at the low end of an expected range. [read post]
10 Apr 2014, 7:00 am by By DANNY HAKIM
Kamel Maamria's new fund will be one of relatively few based and focused on the Middle East, with offices in both Qatar and Dubai. [read post]
10 Apr 2014, 5:25 am by By CHAD BRAY
The Royal Bank of Scotland, which is 81 percent owned by the British government, has agreed to retire a financial structure that entitled the government to preferred dividends. The move opens the door to resume payouts to non-government shareholders. [read post]
9 Apr 2014, 5:49 pm by By WILLIAM ALDEN and SYDNEY EMBER
In the last six months, many of the major banks have instituted what amounts to a radically new policy of urging junior staff members to take a few days off a month, on the weekends. [read post]