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Turkish Authorities Search For Suspect In US Tax Fraud Scheme

PYMNTS

Turkish prosecutors have issued a detention warrant for Turkish businessman Sezgin Baran Korkmaz, who has ties to Utah business executives who recently pleaded guilty to a $511 million tax credit scheme in the U.S., The Kingstons pleaded guilty in the tax credit scheme in the U.S., the Associated Press (AP) reported.

Taxes 167
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EU Eyes Single European Data Market

PYMNTS

In Europe, the continued evolution of data policies and regulation now point toward a single market across the Continent. There is also a proposal for getting rid of EU regulations against anti-competitive data sharing. “We Breton said the plan’s cornerstone calls for the creation of a €2 billion EU cloud platform alliance.

Data 130
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Economic Nexus Laws’ Unexpected Impacts On Restricted Substance Retailers

PYMNTS

eCommerce sales tax laws are having unintended consequences in the tobacco industry. These laws were meant to make online sellers face sales tax requirements similar to those for retailers with on-the-ground locations, putting both types of businesses on equal footing. in 2017 had a 52.75

Retail 109
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Ant Financial Looking At 2016 IPO In Shanghai

PYMNTS

The public offering could be China’s largest since 2010, according to two people familiar with the matter. Ant meets these requirements comfortably, as well as the regulation that, to IPO, a firm must generate accumulated cash flow of at least 50 million yuan or post a total of 300 million yuan for revenue in the latest three years.

New York 100
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Allied Irish Banks Fined For Anti-Money Laundering Compliance Failures

PYMNTS

AIB said in a statement to Bloomberg that the settlement has to do with issues that happened between July 2010 and July 2014. The identification of serious breaches by the regulator of vital regulations sends the wrong message to potential investors in the bank at this crucial time.”.

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The pro-cyclicality of capital ratios and credit supply, a tale of two sizes

BankUnderground

The reforms aimed to ensure that banks have sufficient capital resources to absorb losses and reduce the cyclical effects of bank capital (and regulation) on the supply of bank credit in stress. Additionally, regulators in various jurisdictions have been trying to create simpler (but not weaker) regulatory frameworks for small banks.

Capital 78
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Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish

Jeff For Banks

Second, this can be accomplished only if the industry does not have too much influence over its regulators and if the regulators have the ability to hire, train, and retain qualified staff. Third, the regulators need adequate financial resources. My lesson learned to the regulators, read your past lessons learned.

FDIC 78