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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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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Trending Sources

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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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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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Automation, Evolved: Your New Playbook For Smarter Knowledge Work

Speaker: Frank Taliano

Document-heavy workflows slow down productivity, bury institutional knowledge, and drain resources. But with the right AI implementation, these inefficiencies become opportunities for transformation. So how do you identify where to start and how to succeed? Learn how to develop a clear, practical roadmap for leveraging AI to streamline processes, automate knowledge work, and unlock real operational gains.

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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.

More Trending

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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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Data Talks, CFOs Listen: Why Analytics Is The Key To Better Spend Management

Speaker: Claire Grosjean

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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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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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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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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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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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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Forecasting Failures Are Costly: Heres How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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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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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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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.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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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.

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Industrial production declines to a three-month low of 5% in April

CFO News

India's Index of Industrial Production (IIP) slowed to 5% in April, a three-month low from 5.4% in March, according to data from the Ministry of Statistics and Programme Implementation (MoSPI). The growth rate was 4.6% in April 2023, a decrease from the previous high of 11.9% in October 2023. The three sectors with the highest growth rates in April 2024 were Mining, Manufacturing, and Electricity.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.