Takeaways - Tariffs and other restrictions on trade with China are unlikely to change significantly under the Biden administration, so companies will have to adapt their.
Genesys Appoints Kelly Battles as First Independent Member of Company Operating Committee
Battles to lead audit committee; company adds new chief accounting officer Sharon Virag
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SAN FRANCISCO, Feb. 3, 2021 /PRNewswire/ Genesys, a global leader in cloud customer experience and contact center solutions, today announced Kelly Battles has joined its operating committee – the company s governance and oversight body with responsibilities much like a board of directors. Battles joins as its first independent member and chair of its audit committee. The company also appointed Sharon Virag as chief accounting officer. Battles and Virag bring decades of finance, audit, and corporate governance experience to Genesys which is critical as the company continues to accelerate its growth.
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One of the most pressing challenges the Biden administration will face is how to compete with, and push back against, China’s increasingly powerful and disruptive state capitalist system, which not only threatens U.S. economic and strategic interests, but also undermines the regulatory and legal architecture that underpins the global economy.
The problem is daunting. China now has more companies on the Fortune Global 500 list than does the United States (124 versus 121), with nearly 75 percent of these being state-owned enterprises (SOEs). Three of the world’s five largest companies are Chinese (Sinopec Group, State Grid, and China National Petroleum). China’s largest SOEs hold dominant market positions in many of the most critical and strategic industries, from energy to shipping to rare earths. According to Freeman Chair calculations, the combined assets for China’s 96 largest SOEs total more than $63 trillion, an amount equivalent to nearly 80 percent o
Deloitte Anjin accountants indicted by prosecutors amid feud with Kyobo Life
Posted : 2021-01-19 17:13
By Anna J. Park
Following a nine-month investigation, the Seoul Central District Prosecutor s Office indicted three accountants at Deloitte Anjin earlier this week on charges of violating the country s Certified Accountant Act. The law requires chartered accountants to remain impartial and maintain good faith, while prohibiting them from receiving bribes and conspiring with others to generate unfair financial gains.
Prosecutors launched their investigation in April last year after Kyobo Life Insurance accused the accounting firm as well as members of the insurer s investor consortium ―composed of Hong Kong-based Affinity Equity Partners, Baring Private Equity Asia, Singapore s GIO and IMM Private Equity ― of colluding to give the investors unfair benefits in calculating the insurer s fair market value.
Tuesday, January 5, 2021
President Trump issued an Executive Order (the “Order”) on November 12, 2020 prohibiting “U.S. persons” from trading in securities, both in the U.S. and abroad, that finance Communist Chinese military companies (generally defined as companies owned or controlled by Chinese military or government services and supporting military services, manufacturing or production). There were about 30 companies initially identified by the U.S. government, but the list is fluid and is likely to expand over time. “U.S. person” is broadly defined as “any United Citizen, permanent resident alien, entity organized under the laws of the United States or any jurisdiction within the United States (including foreign branches), or any person in the United States.” Thus, the Order impacts both RIAs and individual investors.