Wed.Jun 12, 2024

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When Are Advisors (Financially) Liable For Negligent Investment Advice? (And Who Pays For It)

Nerd's Eye View

Financial advisors, as professionals whose clients rely on their advice to make financial decisions, are legally and financially responsible for the advice that they give. For example, if an advisor recommends an investment that prioritizes the commission they would receive rather than any benefit the client would derive from it, they could incur fines and sanctions for violating their fiduciary duty as an advisor.

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Fed trims 2024 rate forecast to one cut, holds borrowing costs steady

CFO Dive

The Fed decision followed a report that inflation last month rose less than economists predicted and at the slowest pace since 2021.

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Trending Sources

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Delivering value beyond compliance with ESG reporting

Future CFO

On 31 July 2023, the European Union (EU) adopted the Corporate Sustainability Reporting Directive (CSRD), requiring EU and non-EU companies with activities in the EU to file annual sustainability reports alongside their financial statements. These reports must be prepared in line with European Sustainability Reporting Standards (ESRS). That ESG reporting has moved from a voluntary exercise to mandatory should not come as a surprise.

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40% of executives brace for ‘major’ reorganization, including layoffs: PwC

CFO Dive

Companies are reorganizing to fight margin pressure and planning moves that might require wide-ranging operating model changes, executives said.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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May’s inflation report gives the Fed breathing room

Tips Watch

Both all-items and core inflation came in below expectations. By David Enna, Tipswatch.com The Federal Reserve, which is set to provide future rate predictions this afternoon, got a bit of good news this morning from the May inflation report.

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FLSA & Noncompete Changes – What to Know

VCFO

Looming Changes to FLSA Requirements and Noncompete Agreements – The Big Picture for Your Business Two imminent changes in employment regulations could significantly impact your business operations and compliance status. Legal objections have been filed that will impact implementation dates and possibly final form. While the final fate and ultimate form of these proposed changes are yet to be entirely determined, it is highly recommended that you take a proactive approach to assessing the depth

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Wells, PNC CFOs see office spaces leading CRE stress

CFO Dive

“Older office buildings that are not renovated in certain areas of different cities are the places that you’re seeing the most stress,” Wells Fargo CFO Mike Santomassimo said Tuesday.

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BPCL adds fuel to capex fire, hires I-bank for Rs 31,000 crore loan

CFO News

Bharat Petroleum Corp Ltd has mandated SBI Capital Markets to arrange a Rs 31,000 crore loan for the planned capital expenditure at its Bina refinery complex in Madhya Pradesh.

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ION becomes approved vendor for equities trading on BSE

Reval

MUMBAI, India – 12 June 2024: ION, a global leader in trading, analytics, The post ION becomes approved vendor for equities trading on BSE appeared first on ION.

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Business Travel Expense Strategies for Everybody

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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Bubble of all bubbles? US economist predicts a 2025 stock market crash, likely worse than 2008 crisis

CFO News

Economist Dent warns of a 2025 stock market crash worse than 2008 crisis, attributing it to artificial bubble building post-Covid pandemic. He analyzes global economies, highlights economic devastation, and predicts a crash driven by inflated asset prices.

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How Nonprofits Can Harness the Power of AI in Marketing

The Charity CFO

Today we welcome Josi Garfield on the Modern Nonprofit Podcast for a topic that is particularly modern – artificial intelligence (AI). As the founder of Branch Out Social , a platform dedicated to empowering nonprofits through social media and marketing strategies, Josi has her finger on the pulse of digital marketing trends. In this conversation, Josi shares how nonprofits can harness the power of AI in their marketing efforts.

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The strategic value of data hygiene: a guide for finance leaders

Cube Software

Understanding data hygiene Data hygiene refers to the process of ensuring that your data is clean, accurate, and reliable. In the world of FP&A, this means having data that you can trust to make informed decisions. Without proper data hygiene, you risk working with outdated, duplicated, or incorrect information, which can lead to costly mistakes.

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Rules for direct listing in GIFT to be out in a month

CFO News

International Financial Services Centres Authority chairman K Rajaraman has said that regulations for direct listing of Indian companies in the GIFT IFSC will be out in a month.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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SEBI imposes Rs 35 lakh penalty on PTC India’s Pawan Singh, Rajib Kumar Mishra for corporate governance lapses

CFO News

In the order, Sebi WTM Ashwani Bhatia said, "While issuing the directions, I have considered that the present matter has not brought out any detail pointing to manipulation of the market or its abuse.

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Auto industry body seeks cut in two-wheeler GST; SIAM suggests three-level slabs based on fuel types

CFO News

Society of Indian Automobile Manufacturers (Siam) has requested a reduction in GST rates on two-wheelers in India. They proposed different slabs for different types of two-wheelers to lower the rates. Siam also wants the removal of the 3% cess on high cubic capacity bikes.

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Banks, NBFCs well placed to seize opportunity from India's strong economic prospects: ICRA

CFO News

Loan growth is expected to moderate over the next year as banks seek to align their loan growth in line with deposits, as deposits are not growing as fast as loans. Loan growth will reduce to 12% -14%, from 16% last year.

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BFSI leads as India Inc profit-to-GDP ratio rebounds to a 15-year high in FY24

CFO News

The 0.8% year-on-year increase in the Nifty-500 profit-to-GDP ratio was fuelled by a 0.3% rise from the BFSI sector, another 0.3% from Oil & Gas, and a 0.2% increase from the automobile sector.

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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Hindujas seek more time from NCLT to pay Reliance Capital lenders

CFO News

Hinduja Group, which acquired Reliance Capital, has submitted an application to the National Company Law Tribunal (NCLT) for more time to make final payments to lenders. The group cited delays in obtaining approval from the Department for Promotion of Industry and Internal Trade for foreign investment as the reason for the request. IIHL, a firm of Hinduja Group, won the bid for Reliance Capital in October 2023 and has received almost all necessary approvals.

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Adani Group’s concrete plan: $3 billion buyouts in cement space

CFO News

It is keeping aside a war chest of $3 billion for these acquisitions, these people said. The group is aggressively pursuing an inorganic strategy to boost capacity and emerge as the largest cement manufacturer within the next three to four years, overtaking the Aditya Birla Group’s UltraTech.

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Finance Minister on Day 1: Pledges more steps to ensure 'ease of living'; reforms drive to continue

CFO News

Finance minister Nirmala Sitharaman has expressed optimism for India's economic outlook, stating that reform momentum will continue to spur growth and ensure macro-economic stability. She has emphasized India's "commendable growth story" amid global turmoil and pledged more steps to ensure ease of living. The Indian economy has seen an average of over 8% annual growth since the Covid-induced output contraction in FY21.

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Fed holds rates steady, sees just one cut in 2024 despite inflation progress

CFO News

The markdown in the outlook for rate cuts, from three quarter-percentage-point reductions seen in the Fed's March projections, was made despite the central bank's acknowledgement in its new policy statement of "modest further progress" towards its 2% inflation target - an upgrade from its May 1 statement.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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RBI suffers system failure in automated system for banks’ liquidity management

CFO News

The Reserve Bank of India faced a technical glitch in the ASISO facility, impacting funds visibility. Daily money market operations data publication was delayed. RBI is working to reconcile banks' outstanding lending or borrowing, ensuring SDF and MSF bids are managed effectively.

Banking 40
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India may lead the charge in global AI landscape: GitHub CEO

CFO News

According to GitHub CEO Thomas Dohmke, India has the potential to surge to the forefront of the global AI landscape, driven by its rapidly expanding community of software developers. By 2027, this community is projected to surpass the United States as the world's largest, aligning with the transformative era of AI. Currently, India boasts 15.4 million active developers on the Microsoft-owned platform, marking a substantial 33% year-on-year growth.

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Modi at G7 Summit under Italian Presidency: Consolidating strategic partnership

CFO News

Several ministers from Italy visited India in 2023, for G20 related meetings and held bilateral meetings on the sidelines including the Italian Minister for Foreign Affairs & trade, Finance, Agriculture, Education and Culture Ministers. The Speaker and President of the Italian Senate and Chamber of Deputies participated in the P20 meeting last year.

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Blanket 5% infra provisions to hurt both lenders and project viability: Banks to RBI

CFO News

Bankers have said the norms be subsumed within new provisioning rules that will require lenders to pre-empt assessment on potential losses. “RBI is also in the process of finalising the expected credit loss (ECL) based provisioning guidelines,” said a senior bank executive. "So, there is a suggestion that these infrastructure norms be subsumed into those.

Banking 40
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7 Essential Criteria for Choosing the Right Payments Partner

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.