Financial Infrastructure, Underwriter Reputations, and Securities Fraud

2003 ◽  
Author(s):  
Wei-Ling Song
Keyword(s):  
Securities Fraud ◽  
Financial Infrastructure

Forming an effective financial and investment environment in the eu countries-experience for Ukraine

2019 ◽  
pp. 4-13
Author(s):  
Ryzhyuk Yevgeny
Keyword(s):  
Banking System ◽  
Executive Branch ◽  
Investment Environment ◽  
Financial Investment ◽  
Eu Countries ◽  
Currency Exchange ◽  
Clearing System ◽  
Financial Infrastructure ◽  
Supranational Level ◽  
The Eu

The subject of the research is a set of institutional institutions and organizational and managerial relations that effectively regulate the financial and investment environment in the EU countries, comparing them with Ukrainian realities.The goal of writing this article is to develop practical and scientific-methodicalrecommendations on how to increase the efficiency of using financial and investment potential based on the experience of EU countries. The methodology of thework-system-structural and comparative studies (to understand the logic of thefunctioning of institutions that form the investment environment and the mechanisms of their interaction); monographic analysis (in studying the problems ofattracting investors); historical and economic analysis (in assessing the state andprospects of the European, as well as the Ukrainian economy). Results of work -it is revealed that modern European regulators are aimed at forming a holisticinvestment and financial infrastructure and investment platform at the supranational level. It was proposed to carry out further liberalization of currency regulation in Ukraine in order to transform it into a convenient and efficient electronicautomated currency exchange system and introduce the integration of the domestic depository system into the international depositary clearing system Clearstream.It was noted that the financial and investment environment in Ukraine is blockedand domestic monopolies are interested in this, thanks to lobbying in the Verkhovna Rada of Ukraine and in the executive branch they have distorted financial,investment and currency legislation for their interests and needs. Conclusions-thepresence of a holistic investment and financial infrastructure in the EU countriesis due to the gradual convergence and unification of legislation at the nationallevel to the supranational level. In addition, it is reasonably high investment positions of Ireland in the world and it was proposed to use this experience to createa favorable financial and investment environment in Ukraine. Note that the formation of the financial and investment environment in Ukraine according to European standards is hampered by: oligarchic monopolies, which parasitizes mainly onnatural monopolies; government corruption; confusing and incomprehensible legislation for investors; high tax rates and tax administration system; instability ofthe banking system, the risks of hryvnia devaluation; the insecurity of landagrarian relations; as well as armed conflict in the east of Ukraine.

Global Banks on Trial

2020 ◽  
Author(s):  
Pierre-Hugues Verdier
Keyword(s):  
Tax Evasion ◽  
Information Exchange ◽  
Sovereign Debt ◽  
Criminal Cases ◽  
Financial Infrastructure ◽  
Compliance Officers ◽  
The 2008 Financial Crisis ◽  
Financial Indices ◽  
Fundamental Shift ◽  
Global Banks

In the years since the 2008 financial crisis, U.S. prosecutors have brought dozens of criminal cases against the world’s most powerful banks, charging them with manipulating financial indices, helping their customers evade taxes, evading sanctions, and laundering money. To settle these cases, global banks like UBS, Barclays, HSBC, and BNP Paribas paid tens of billions of dollars in fines. They also agreed to extensive internal reforms, hiring hundreds of compliance officers, spending billions on new systems, and installing independent corporate monitors. In effect, they agreed to become worldwide enforcers of U.S. law and policies. This book examines the U.S. enforcement campaign against global banks across four areas: benchmark manipulation, tax evasion, sanctions violations, and sovereign debt. It shows that U.S. prosecutors have unilaterally carved out a new role as global bank regulators, heralding a fundamental shift in how international finance is overseen. Their ability to do so stems from U.S. control over vital hubs of the international financial system, from which they can threaten global banks with exclusion. In some areas, these unilateral U.S. actions have ushered in important multilateral reforms, such as the rise of automatic tax information exchange and better-regulated financial indices. In other areas, such as financial sanctions, unilateralism has attracted protests from other states and attempts to bypass U.S.-based financial infrastructure, which could undermine the country’s power.

scholarly journals Getting a Foot in the Door: Small-Firm Credit and Interest Group Politics in the Netherlands, 1900–1927

2020 ◽  
pp. 1-37
Author(s):  
RUBEN PEETERS
Keyword(s):  
Small Firm ◽  
Small Firms ◽  
Power Structures ◽  
Access To Credit ◽  
Financial Infrastructure ◽  
History Of ◽  
Interest Group Politics ◽  
Group Politics ◽  
The Government

This article explores the link between the history of small-firm associations and the development of Dutch financial infrastructure geared toward small firms. In particular, it tests Verdier’s thesis about the origins of state banking using an in-depth case study of the Dutch small-firm movement. This article shows that Dutch small-firm associations did not simply became politically relevant and use their power to lobby for state banking, but rather used the topic of insufficient access to credit to rally support, mobilize members, and obtain subsidies from the government. During this associational process, they had to navigate local contexts and power structures that, in turn, also shaped the financial system. State banking was initially not demanded by small firms, but arose as the result of failed experiments with subsidized banking infrastructure and a changing position of the government on how to intervene in the economy.

FATCA violation underlies latest US tax and securities fraud charges

2015 ◽  
Vol 16 (1) ◽  
pp. 74-76
Author(s):  
Miriam Fisher ◽  
Brian McManus
Keyword(s):  
Law Enforcement ◽  
Service Providers ◽  
Task Force ◽  
Tax Compliance ◽  
Financial Fraud ◽  
Securities Fraud ◽  
Content Type ◽  
The Impact ◽  
First Time ◽  
Practical Implications

Purpose – To explain the details and implications of a September 9, 2014 federal indictment, US v. Robert Bandfield, the first time a Foreign Account Tax Compliance Act (FATCA) violation has been charged as an “overt act” in furtherance of a tax conspiracy and securities fraud. Design/methodology/approach – Provides background, including the enactment of FATCA and the details of the indictment; describes an undercover investigation conducted by President Obama’s Financial Fraud Enforcement Task Force; and discusses the warnings this indictment sends to the global financial community. Findings – The indictment confirms the coordinated and aggressive tactics US law enforcement is now employing to investigate and prosecute offshore financial fraud. Practical implications – Banks and financial service providers need to be aware of the impact of enhanced US regulatory obligations and implement appropriate compliance measures. These institutions must also remain sensitive to risks presented by unscrupulous customers. Finally, they must be ready to manage appropriately information-gathering and investigatory inquiries originating with US authorities. Originality/value – Practical guidance from experienced tax controversy lawyers.

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