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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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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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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How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

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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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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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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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How To Streamline Finance Operations Through Automation

Speaker: Claire Grosjean

In today’s fast-paced business environment, finance professionals are under increasing pressure to optimize operations and drive strategic value. As a result, automation has become a core part of business strategy, offering unprecedented opportunities to streamline operations and drive efficiency. Join esteemed global finance and operations executive, Claire Grosjean, for a comprehensive guide on how to harness automation’s power through strategic collaboration with functional leaders.

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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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Empowering Business Travel: The CFOs Guide

Business travel is more than just a line item. It’s a strategic opportunity to align with your company’s goals and empower your employees. With 60% of employees dissatisfied with the ease of booking and modifying travel plans, there’s a significant opportunity to improve travel management. This one-pager explores how to transform travel into a powerful tool for organizational success.

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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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How to Avoid Getting "Ghosted": Top 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

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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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Navigating the Automation Landscape: Selecting Tools That Fit Your Business

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

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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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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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Secure SaaS Success: Embedded Finance as a Competitive Advantage

Speaker: Ian Hillis, SVP of Growth at Payrix and Worldpay for Platforms

Join us for an exclusive webinar hosted by Ian Hillis, SVP of Growth at Payrix and Worldpay for Platforms, where he’ll explore the significant impact of embedded finance on the software industry! This session is designed to provide you with the strategic insights needed to navigate the future of SaaS successfully, all while gaining a deeper understanding of how these trends can enhance your competitive edge, boost revenue, and deepen customer loyalty.