Article: Carlos Ghosn Escape Accomplices Plead Guilty in Tokyo Court

Article - Media

Carlos Ghosn Escape Accomplices Plead Guilty in Tokyo Court

River Davis, Tsuyoshi Inajima, and Sophie Jackman, 14 June 2021

The American father-son duo charged with helping former Nissan Motor Co. Chairman Carlos Ghosn flee trial in Japan a year and a half ago pleaded guilty in a Tokyo court Monday.

Appearing for the first time since they were extradited to Japan from the U.S. earlier this year, Michael Taylor, 60, and Peter Taylor, 28, listened as the prosecutor read out the charges. Asked by the judge whether there was anything wrong with the charges, Michael replied “No, your Honor” while Peter said “No, ma’am.” Continue reading “Article: Carlos Ghosn Escape Accomplices Plead Guilty in Tokyo Court”

Article: Alleged Accomplices in Ghosn Escape Set to Appear in Tokyo Court

Article - Media

Alleged Accomplices in Ghosn Escape Set to Appear in Tokyo Court

River Davis, 14 June 2021

Two Americans charged with helping former Nissan Motor Co. Chairman Carlos Ghosn flee trial in Japan a year-and-a-half ago are now set to appear at their own hearing at the Tokyo District Court on Monday.

Michael Taylor, 60, and Peter Taylor, 28, have been charged with helping Ghosn illegally escape Japan in December 2019, where he was facing charges of financial misconduct. The former executive, who has denied prosecutors’ accusations of understating income and using company funds for personal use, was smuggled out of Japan in a case for audio equipment and ended up in Beirut, where he currently resides. Continue reading “Article: Alleged Accomplices in Ghosn Escape Set to Appear in Tokyo Court”

Article: Money laundering gang sentenced over £5 million cash-seizure which is Met’s biggest ever

Article - Media, Publications

Money laundering gang sentenced over £5 million cash-seizure which is Met’s biggest ever

Rachael Davis, 29 May 2021

A gang of men has been sentenced to nearly ten years in jail after £5 million in criminal cash was seized from an apartment in Fulham. The three men were sentenced at Harrow Crown Court on Friday, May 28, after pleading guilty last year to conspiracy to conceal/disguise/convert/transfer/remove criminal property.

The Metropolitan Police ‘s long-running operation to tackle organised crime in the capital is targeting gun crime and large scale Class A drug supply. This bust has put a large scale money launderer behind bars, which the Met says will have a “major impact” on organised crime. Continue reading “Article: Money laundering gang sentenced over £5 million cash-seizure which is Met’s biggest ever”

Article: Developer Can’t Revive Lloyds Suit Over Misselling Review

Article - Media, Publications

Developer Can’t Revive Lloyds Suit Over Misselling Review

Paige Long, 16 April 2021

An English appeals court ruled on Friday that a property investor cannot sue Lloyds Banking Group over its conduct during a review of interest rate hedging products bought in the mid-2000s because his complaint was invalid.

The Court of Appeal upheld a decision from July that threw out the lawsuit brought by Clive Davis against Lloyds Bank. The higher court ruled that the property investor’s grievances did not comply with the regulatory definition of “complaint” in the Financial Conduct Authority’s dispute resolution rules. Continue reading “Article: Developer Can’t Revive Lloyds Suit Over Misselling Review”

Article: Being ‘tough on China’ can’t mean harming our own interests

Article - Media, Publications

Being ‘tough on China’ can’t mean harming our own interests

DANIEL L DAVIS, 11 April 2021

Being “tough on China” is politically popular in Washington these days, and Biden has come out of the gate swinging against Beijing. But “being tough” isn’t a policy and reflexively applying it to China doesn’t serve U.S. interests. A logical and realistic approach to Beijing, however, can.

Obama’s “pivot to Asia” in 2011 opened a new chapter in Sino-American relations and turned an always challenging relationship even more tense. From the beginning of his administration, Trump characterized China in starkly adversarial terms, calculating domestic political advantage in starting a trade war. In the early months of the Biden term, it appears the new president has chosen to accelerate this deterioration in relations. Continue reading “Article: Being ‘tough on China’ can’t mean harming our own interests”

Article: People moves: facing the funds fallout music, CS changes chairs, and more

Article - Media, Publications

People moves: facing the funds fallout music, CS changes chairs, and more

Natasha Rega-Jones, 07 April 2021

Credit Suisse faces some tough choices as it absorbs the extraordinary losses inflicted by the Greensill and Archegos fund fiascos and subsequent ratings hit. On April 6, the firm announced an estimated pre-tax loss of approximately Sfr900 million ($963 million) for the first quarter, including a charge of Sfr4.4 billion ($4.7 billion) in respect of Archegos. At the same time, the firm announced that investment bank CEO Brian Chin and chief risk and compliance officer Lara Warner were stepping down from their roles with immediate effect.

Christian Meissner, co-head of wealth management banking advisory and vice-chair of investment banking, will replace Chin in May. Meissner was previously head of global corporate and investment banking at Bank of America Merrill Lynch, and earlier co-CEO for EMEA at Lehman Brothers. Continue reading “Article: People moves: facing the funds fallout music, CS changes chairs, and more”

Article: China tells UK to butt out of Hong Kong

Article - Media, Publications

China tells UK to butt out of Hong Kong

Andrew Davis, 15 March 2021

China accused the UK of “groundless slanders” after the British government said Beijing’s crackdown on dissent in Hong Kong wasn’t in compliance with the treaty that paved the way for the city’s return to Chinese control.

“The UK has no sovereignty, jurisdiction or right of ‘supervision’ over Hong Kong after the handover, and it has no so-called ‘obligations’ to Hong Kong citizens,” China said in a statement posted Sunday (Monday AEDT) on the website of its London embassy. “No foreign country or organisation has the right to take the Joint Declaration as an excuse to interfere in Hong Kong affairs, which are China’s internal affairs.”

Read Full Article

Article: Uncertainty tax: Why Vanguard bigwigs expect economic growth to slow in 2020

Article - Media, Publications

Uncertainty tax: Why Vanguard bigwigs expect economic growth to slow in 2020

Erin Arvedlund, 11 July 2020

Vanguard’s top executives held a webcast Thursday evening addressing key factors that could affect the U.S. and global economies, trends to watch for in the financial markets, and what’s new for Vanguard clients in 2020.

“We’ve seen a significant rally last year, so for returns in bonds, we expect overall 2-2.5% over the next decade” annually, said chief investment officer Greg Davis on the one-hour program. For U.S. equities, Vanguard expects annual returns of slightly under 5% and international equities of 7.5% annually. Continue reading “Article: Uncertainty tax: Why Vanguard bigwigs expect economic growth to slow in 2020”

Lawyer: Paul Davis

Lawyer

Paul Davis has a practice focused on mergers and acquisitions, proxy fights, corporate governance, corporate finance and business restructuring, and a broad range of securities and business law matters for both private and public issuers. Paul is the Co-Chair of the firm’s Capital Markets & M&A practice group and leads and coordinates the practice’s efforts across Canada.

Continue reading “Lawyer: Paul Davis”

Paper: Analysis of Short Selling in Canada

Paper

Short Selling in Canada: Regulations are Weak and a New Path Forward is Needed to Reduce Systemic Risk 

Based on our research, it is clear that IIROC’s largely non-interventionist approach and its focus on maintaining liquidity have made Canadian companies attractive targets for short campaigns. From 2015 to 2018 there was an increase in the number of short campaigns in Canada, while generally in other jurisdictions there was a decrease. Additionally, the number of short campaigns in Canada is utterly disproportionate to the size of our capital markets when compared to the United States, the European Union and Australia (as examples). The reason for this seems clear: short selling regulations in Canada are out of step with regulations in those other jurisdictions – see Schedule A attached hereto. As a result of inherent weaknesses in the Canadian short sale regulatory regime, short sellers may well be attracted to the Canadian capital markets.

PDF (164 Pages): Paper Analysis of the Short Selling Landscape of Canada

Article: Short-Sellers Are Burned by Novastar

Article - Media

Short-Sellers Are Burned by Novastar

Roddy Boyd

New York Post, 16 April 2006

One Midwestern financial company, long a target of short-sellers, has deployed an infrequently used tactic to inflict pain on its naysayers: Its management has put in place a strategy that consistently makes money.

The stock of Novastar Financial, a Kansas City, Mo.-based home-equity real estate investment trust, has been a battleground between long-term holders in love with its juicy dividends and short-sellers who suspect that the company has massive default risk with those loans.

Read full article.

Access archived post on Sanity Check via Wayback.