In 1981 two bored but ambitious accountants started a British investment business from a spare room. Today they are billionaires. If we were living in America someone would probably have made a Hollywood movie about their humble accountancy roots to fabulous riches story; but sadly we’re not. Today the founders of Hargreaves Lansdown both live […]
Archives for 2020
The Year-End Melt-Up
All the ingredients seem to be in place for a melt-up in the stock market into year-end. John Roque of Wolfe Research and Joe Terranova of Virtus Investment Partners join Josh Brown for a discussion about small caps catching up with large caps, favoring quality and momentum in portfolio construction, what’s going on with the […]
Commissioners Pierce And Roisman Dissent To Broad Interpretation Of Internal Accounting Controls – Accounting and Audit – United States – Mondaq News Alerts
United States: Commissioners Pierce And Roisman Dissent To Broad Interpretation Of Internal Accounting Controls 20 November 2020 Mayer Brown To print this article, all you need is to be registered or login on Mondaq.com. On October 15, 2020, the US Securities and Exchange Commission (SEC) issued a cease and desist order (Order), settling charges against […]
Local MP backs planners’ FSCS levy fight
Sheffield-based Financial Planners Belmayne have enlisted their local MP to help them fight rising FSCS levy costs which have seen the firm hit with £2,000 bill increase. Belmayne says it is taking its campaign for fairer industry regulation to Westminster with the help of local MP Lee Rowley. Mr Rowley, who worked previously in financial […]
Hargeaves founder cashes in £103m stake
Stephen Lansdown, one of the two founders of online investment platform and wealth manager Hargreaves Lansdown, has sold £103m of shares in the business. The deal reduces his holding in the company from 7.13% to 5.71%, according to a Stock Exchange announcement. His remaining stake is likely to be worth in excess of £400m depending […]
One in a million: Andrew Cox of The Hope Factory
To celebrate reaching the milestone of having one million subscribers across Australia, the Xero team is turning a spotlight on some of the people who’ve made it all possible. Like Xero, our customers, advisors, app partners and their employees who’ve come along on the journey, have evolved and adapted over the years. We explore how […]
Merrill Lynch president urges ‘full transparency’ on diversity in industry
Earlier this year, Merrill Lynch took the unusual step for a wealth management firm to release data on diversity in its advisor ranks. Now the head of the wirehouse is urging his peers across wealth management to take a cue from the thundering herd and be more forthcoming about diversity in their advisor ranks. “For […]
IRS doubles down on nondeductibility of PPP-funded expenses
In guidance issued late on Wednesday, the IRS reiterated its position that taxpayers cannot claim a deduction for any otherwise deductible expense if the payment of the expense results in forgiveness of a Paycheck Protection Program (PPP) loan because the income associated with the forgiveness is excluded from gross income under the Coronavirus Aid, Relief, […]
PCAOB amends independence requirements to align with SEC changes
The PCAOB adopted amendments Thursday to align its independence requirements with recently updated SEC rules. Last month the SEC amended its rules in an effort to prevent the triggering of auditor independence rules violations in situations that don’t necessarily impair auditor judgments. The amendments were designed to prevent unnecessary red flags that could cause auditors, […]
SEC amends guidance on MD&A, other disclosures
The SEC is adopting amendments designed to modernize, simplify, and enhance management’s discussion and analysis and other financial disclosure requirements in Regulation S-K. The changes to Regulation S-K are designed to sharpen the focus on material information by eliminating Item 301 (Selected Financial Data) and changing item 302(a) (Supplementary Financial Information) and Item 303 (MD&A). […]