Archive for: April, 2012

Men or Women: Who Spends More Time Worrying About Personal Finances?

Men or Women: Who Spends More Time Worrying About Personal Finances?

According to a conducted survey of over 1200 participants, seventy five percent of people are generally worried about cash flows related to their personal finances However, forty percent of men and women surveyed, admitted to spending more time worrying about the situation, then taking action to remedy it! Another interesting fact emerged, relating to the [...]

IOSCO Consults on Principles of Liquidity Risk Management for Collective Investment Schemes

The Technical Committee of the International Organization of Securities Commissions has published the consultation report Principles of Liquidity Risk Management for Collective Investment Schemes, which outlines a set of principles against which both the industry and regulators can assess the quality of regulation and industry practices relating to liquidity risk management for collective investment schemes [...]

Consultation Paper on Money Market Fund Systemic Risk Analysis and Reform Options

The Technical Committee of the International Organization of Securities Commissions (IOSCO) has published a consultation report, Money Market Fund Systemic Risk Analysis and Reform Options, which provides a preliminary analysis of the possible risks that money market funds (MMFs) could pose to systemic stability and consults on an exhaustive range of policy options to address [...]

Keep Investment Adviser Oversight with SEC, Congress Urged

Keep Investment Adviser Oversight with SEC, Congress Urged

The American Institute of CPAs (AICPA) is opposing the Investment Adviser Oversight Act of 2012, urging the US Congress to keep the oversight of investment advisers with the Securities and Exchange Commission. The Investment Adviser Oversight Act aims to transfer the oversight of investment advisers from the US SEC to a Self-Regulatory Organization (SRO). The [...]

SEC Suspends Trading of 3 Companies

The U.S. Securities and Exchange Commission announced the temporary suspension of trading in the securities of the following issuers, commencing at 9:30 a.m. EDT on April 27, 2012 and terminating at 11:59 p.m. EDT on May 10, 2012: • Berman Center, Inc. (BRMC) • Cyberkinetics Neurotechnology Systems, Inc. (CYKN) • Java Detour, Inc. (JVDTQ) The [...]

Wealth Management Founder Fined $1.24m Over Fiduciary Lapses

Wealth Management Founder Fined $1.24m Over Fiduciary Lapses

A Wisconsin federal court has issued a summary judgment imposing fines against the founder and Chief Executive Officer of Wealth Management LLC for breaching his fiduciary duty in the company. The court’s decision comes in favor of the US Securities and Exchange Commission which filed a complaint in May 2009 against James Putman. Wealth Management [...]

New Rules ‘Ensure’ Pension Transfers Are Suitable for Scheme Members

The Financial Services Authority (FSA) has published new rules and guidance, following consultation, to strengthen the protection for members of defined benefit pension schemes who are considering moving their money into personal pensions. The changes are designed to deal with the FSA’s concern that in most cases a pension transfer is not in the best [...]

‘Double-dip – Official, As Current Slump Lasts Longer Than 1930s Recession’

Commenting on the Office for National Statistics’ preliminary estimate of UK Gross Domestic Product in the first quarter of 2012, KPMG Chief Economist, Andrew Smith, said: “It’s official, we’re in a double-dip. “The 0.2 percent fall in GDP in the first quarter, coming on the back of the 0.3 percent decline at the end of [...]

Resource Security Drives Increase in Chinese Mining and Metals M&A

An increasing level of M&A activity by Chinese mining and metals companies is being fuelled by the need to secure raw materials supply, the ongoing push for domestic consolidation and companies seeking vertical integration. Deal value for Q1 2012 is US$7.9 billion, nearly five times higher than the same quarter last year, with deal volume [...]

Ernst & Young Foresees Aggressive Tax Enforcement Continues in 2012

Most Asia-Pacific nations entered 2012 continuing the prudent tax and fiscal policies that have helped make them preferred destinations for capital investment. In fact, the world’s investors passed a tipping point in 2011, directing more capital into emerging markets, many in Asia-Pacific, than into the markets of mature economies, according to the Ernst & Young [...]

Multiple Market Forces Drive Stock Exchange Evolution and Shift Eastward

Trading exchanges around the world are undergoing a transformation as M&A activity slows in traditional locations and competition heats up in emerging markets. Increased regulation, the ongoing surge of technology, shrinking trading volumes, and new client- and product- driven business models are shaping dramatic changes to the exchange sector, according to a new report from [...]

‘Change Readiness Index’ Provides New Insight into Countries’ Ability to Respond to Change

‘Change Readiness Index’ Provides New Insight into Countries’ Ability to Respond to Change

KPMG International and the Overseas Development Institute (ODI) has released the results of their new ‘Change Readiness Index’ which provides insight into which countries are better prepared to cope with change and take advantage of the resulting opportunities. The Change Readiness Index captures government capability and the capability of a country as a whole – [...]

PwC US Ranks No. 1 on DiversityInc’s Top 50 Companies for Diversity List

PwC US was named No. 1 on DiversityInc’s 2012 Top 50 Companies for Diversity list, after a breakthrough year during which huge gains in diversity were seen at the senior-most levels of PwC and among all companies named to the list. A total of 587 companies from a wide range of industries participated in the [...]

Cracking the Telecoms Capex Code

Cracking the Telecoms Capex Code

The global telecom industry misallocates 20 per cent of its capital expenditures — about US$65 billion each year — says a new report from PwC. The report ‘We need to talk about Capex’ found that the industry’s capex bill is now at US$320 billion per year, but about 20 percent of capital projects provide little [...]

Pensions Regulator Statement on Pension Scheme Funding: ‘No Olive Branch’ To Employers or Trustees

Commenting on the Pensions Regulator’s statement today on pension scheme funding, KPMG Pensions Partner, Mike Smedley, said: “Although this was originally billed as a response to current market conditions and Quantitative Easing, in practice there is no olive branch for employers and the Regulator has significantly raised the stakes for both Trustees and sponsors. “While [...]

KPMG Wins Information Security Consultancy of the Year at SC Awards

KPMG Wins Information Security Consultancy of the Year at SC Awards

KPMG Europe LLP’s Information Protection and Business Resilience practice was awarded the Information Security Consultancy of the Year by SC Magazine, following the ceremony which was held in London last night. This is the second year running that KPMG has won the award. KPMG were judged to be successful by a team of judges from [...]

Newlyweds: Is It Safe to Join Bank Accounts?

Newlyweds: Is It Safe to Join Bank Accounts?

The mention of combining bank accounts could for various newly married couples, prove to be a sensitive subject! However, various experts recommend that it is one that should be discussed even before the engagement. Understanding the financial values and perceptions of your partner, is part of knowing them as an individual and as someone with [...]

Avoid Trap of Over-analysis to Benefit from ‘Big Data’, Says KPMG

Avoid Trap of Over-analysis to Benefit from ‘Big Data’, Says KPMG

Organisations need to avoid over-analysing the data on their doorstep if they are going to reap the true benefits of ‘big data’, according to KPMG Management Consulting. ‘Big Data’ is rapidly becoming the 2012 corporate must-have, as it offers massive opportunities to gather real-time intelligence and drive product or service delivery decisions. However, the volume [...]

Health of UK Retail Will Worsen to Record Levels

Health of UK Retail Will Worsen to Record Levels

UK retailers are facing an even bleaker outlook as the health of the industry is expected to worsen to record levels before any signs of recovery. This was the report of KPMG/Ipsos Retail Think Tank (RTT) – a panel of retail industry commentators that provides authoritative and independent views on issues affecting the sector. The [...]

Cost-cutting Entails Shared Incentive, Says KPMG

Most capital investment programmes in the UK claim cost savings in the planning stage but turn into cost overruns during construction, creating the risk of under-delivery. This was the statement of Stuart Westgate, risk consulting director at KPMG, in his comments on the government’s announcement to reduce cost in UK infrastructure projects by 2015. Westgate [...]