Search Results for: Latvia

Securities Commission Malaysia (SC) has released a new Malaysian Code on Corporate Governance (MCCG). This revised guidance encourages the development of corporate governance culture, not just within listed companies, but also state-owned enterprises, small-and-medium sized enterprises (SMEs) and licensed intermediaries. This code includes 36 practices to support strong board leadership; effective audit, risk management, and internal controls; and solid corporate reporting.…

The European Commission and the Russian giant Gazprom have moved closer to striking a deal over the company’s competitive behavior in the European Union (EU). On Monday (March 13), the EU competition Commissioner Margrethe Vestager invited all interested parties to comment on Gazprom commitments to address concerns that the company is breaking EU anti-trust rules.…

THE DE-RISKING by major banks through cancelling correspondent banking relationships (CBRs) has started to raise such alarm that anti-money laundering institutions are starting to advise against such caution.

“There has been international pressure to make banks think twice about turning down customers and not just have blanket bans  on certain jurisdictions  or certain types of institutions,” said Sarah Ouarbya,  partner in Mazars, one of the UK’s largest accountancy firms and an international  specialist in audit, tax and advisory services.…

A CONSORTIUM of investigative journalists has claimed to have identified a model showing how a Russia-based money laundering scheme moved at least USD20.8 billion out of the country, via Moldova and Latvia. Significant portions of this money was transferred to accounts held by western banks including Britain’s HSBC and Coutts, the Bank of America and other major financial institutions, said the Organized Crime and Corruption Reporting Project (OCCRP).…

THE EUROPEAN Union (EU) has taken a significant step towards the creation of a European Public Prosecutor’s Office (EPPO), but its chosen procedure may mean the powers of EU anti-fraud office OLAF will be undiminished, at least for some countries.

The latest European Council – the EU summit of heads of government – on March 9 agreed that the creation of the EPPO should be mandated through the EU’s ‘enhanced cooperation’ procedure.…

Italy’s premier beauty trade fair celebrated half a century this year in Bologna with a host of special events that ranged from an opening cocktail party on the fair grounds to a special dance performance held in the Bologna city centre.…

THE ASEAN Audit Regulators Group (AARG) and the big-four audit firms have agreed a measurable goal to improve audit quality within south-east Asia. The project involves Deloitte, EY, KPMG, and PricewaterhouseCoopers (PWC) in Malaysia, Indonesia, Singapore and Thailand; along with Malaysia’s Audit Oversight Board, Indonesia’s Finance Professions Supervisory Centre, Singapore’s Accounting and Corporate Regulatory Authority (ACRA) and Thailand’s Securities and Exchange Commission.…

EUROPEAN food and drink exporters will be preparing to boost exports through the Comprehensive Economic and Trade Agreement between the European Union (EU) and Canada (CETA), which has been provisionally approved by the European Parliament.

The deal, whose duty reduction and quota expansion elements could apply from April (2017) will phase out nearly 99% of tariffs on all food and drink traded between the EU and Canada over the next seven years.…

MANY personal care product markets in eastern and central Europe are growing slowly, with incremental growth being tapped especially by major international brands who have squeezed out local players with their solid pricing and reliable quality.

But with natural cosmetics rising in popularity, there is still space for innovative smaller players with sufficient local roots and knowhow to appeal to consumers in what remains an extremely diverse region in terms of culture and consumer habits.…

MANY personal care product markets in eastern and central Europe are growing slowly, with incremental growth being tapped especially by major international brands who have squeezed out local players with their solid pricing and reliable quality.

But with natural cosmetics rising in popularity, there is still space for innovative smaller players with sufficient local roots and knowhow to appeal to consumers in what remains an extremely diverse region in terms of culture and consumer habits.…