New accounting standards may trigger transfer pricing adjustments for multinationals: Experts

July 18, 2016

MUMBAI: Even as Indian companies prepare for the new accounting standards -- Ind-AS -- multinationals are concerned that the new standards could trigger transfer pricing demands from Indian tax authorities.

Spotlight

Financial advisors are questioning their value propositions. They want their clients to reach long-term financial goals and objectives. Yet, advisors find themselves caught in a performance paradox. Despite their best intentions, many advisors have been justifying their worth based on market and investment product returns in the short term rather than performance that is personal to the client over the long term.


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FINANCIAL MANAGEMENT

Card Curator and Invstr Announce New, Exciting Partnership

Card Curator and Invstr Ltd. | September 09, 2022

Card Curator, an app that informs rewards credit cardholders on how to earn the most out of their purchases without spending more, and top-rated U.S. investment and financial education app Invstr, have partnered together to help Invstr users make sharper decisions on their daily card spending with Card Curator’s award-winning credit card recommendation tool. Invstr users will no longer have to play the painful guessing game of which credit cards to use on purchases, as the tool will recommend the “best” card in their wallet that yields the greatest rewards on gas, groceries, dining, and more. It can be found in the Hub of the Invstr app. All in all, Card Curator’s credit card recommendation tool will provide Invstr users with the clarity and guidance they need when choosing their credit cards for any given purchase. It does this through independent and objective advice, as Card Curator does not receive compensation from banks or credit card issuers for its card recommendations. “Invstr is one of the leading pioneers in financial literacy and has educated globally over 1 million members of its community on how to become savvier investors through the support of their highly acclaimed features, Now with this partnership, Invstr users will become sharper with their daily card spending and won’t be missing out on maximum reward earning opportunities. The number one reason why cardholders miss out on rewards is that they simply use the wrong credit cards on their purchases, and our tool corrects that.” -John Taylor Garner, Founder and CEO of Card Curator Invstr is delighted to be working with Card Curator to help consumers determine the best credit card to use. Our mission is to empower everyone to take charge of their financial future. We aim to help our customers at every stage of their financial journey from learning how to invest, to managing their banking, brokerage, crypto, insurance, and now credit cards in a single easy experience, said Invstr Founder and CEO Kerim Derhalli. About Card Curator Card Curator (CC) is the first and only true rewards optimization platform that demystifies and simplifies the credit card rewards game, helping users earn an average of $4,000 per year. CC was designed by algorithm and rewards experts to maximize earnings and offer individually tailored recommendations based on each user’s objectives--not influenced by card issuers or third parties. CC is the fastest, most efficient way for cardholders to optimize their spending and maximize the value of their award redemptions, typically generating five times the returns of standard card rewards programs. With guaranteed security and customization, Card Curator levels the rewards playing field between the complexities created by financial institutions and the cardholders who want to maximize the value of their spending but don’t have the time or inclination to decipher the fine print. Based in Lakeville, CT, Card Curator is privately held. About Invstr Ltd Invstr is a technology company with a presence in New York, London and Istanbul. Through its award-winning smartphone app, Invstr is determined to democratize finance. Founded by Kerim Derhalli in 2013, the app combines fun, learning, and competition to break down barriers and help users become better, more confident investors. Derhalli was named the 2019 Tech Entrepreneur of the Year at the Go:Tech Business Awards in 2019 and Invstr the Fintech App of the Year at the 2019 UK App Awards. Invstr also won the Fintech Innovator of the Year at the UK Business Tech Awards 2018 and Fintech Founder of the Year at the BMW i UK Tech Founder Awards 2018.

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FINANCIAL MANAGEMENT,FUNDING

Aktia Launches Rare Dark Green Corporate Bond Fund

Aktia | September 06, 2022

Aktia Launches Rare Dark Green Corporate Bond Fund. In addition to long-term financial returns, the UI-Aktia Sustainable Corporate Bond aims to achieve significant social and environmental benefits by investing in European sustainable development bonds. Initially, the fund will be available to both domestic and foreign professional institutional investors, but it will made available to retail investors as well at a later stage. Aktia has launched the new UI-Aktia Sustainable Corporate Bond fund on 1 September 2022. It is classified as a so-called dark green fund in accordance with Article 9 of the EU Sustainable Finance Disclosure Regulation. The fund invests only in green, social, and responsible bonds as well as sustainability-linked bonds (SLB), and each investment object is also required to have a positive net impact, considering, for example, the impact on society and the environment. In assessing the sustainability of investment objects the corporate bond fund uses, for example, the ISS ESG climate risk analysis as well as company-specific ESG assessments and analyses. Aktia also utilises ESG data produced by Morningstar (Sustainalytics). The investment objects’ net impact on the social and ecological environment are continuously analysed and reported through the AI-based impact tool developed by the Finnish Upright Project. “Aktia has been carrying out portfolio management that takes sustainable development into account for a long time, and we have been reporting on the impact profiles of our equity and corporate bond funds via Upright’s tool since 2019. However, there is a growing demand on the market for investment products with clearly measurable sustainability impacts. It is great to be involved in the creation of this dark green corporate bond fund, which is still rare even in Europe, and where investment objects do not only comply with the sustainable development objects but also generate significant social or environmental benefits,” - Jonne Sandström, Portfolio Manager of the new fund UI-Aktia Sustainable Corporate Bond will initially be available to professional institutional investors, but the objective is to make the fund available to retail investors at a later stage. The fund is also sold to professional institutional investors internationally through Universal-Investment-Luxembourg S.A., Aktia's fund distribution partner in Europe. In Finland, the pension insurance company Veritas has entered the fund as a seed investor with EUR 20 million. As a pension investor, it is important for us to invest responsibly but without compromising returns. This fund combines the skills of experienced portfolio managers and the innovative mindset of a startup – and it does all this with domestic expertise. We want to support concrete actions to promote sustainability, says Ville Iso-Mustajärvi, Portfolio Manager at Veritas. While UI-Aktia Sustainable Corporate Bond primarily invests in investment grade bonds, it can diversify up to 20% of its investments to high yield bonds with a rating of at least BB -. An exception to this is unrated bonds, in which up to 3% of the fund can be invested. The largest individual sectors for the fund's investments are financial services and utilities, with a wide company-level diversification. Regarding sustainable corporate bond categories, the majority of investments are directed towards green bonds. Aktia has taken ESG issues into account for a long time in its investment activities. The company also systematically develops its climate strategy published in 2021. As part of its climate strategy, Aktia joined the international Net Zero Asset Managers initiative at the end of 2021. The initiative in support of emission restrictions, which has become a financial standard, offers more concrete tools for sustainability work. Aktia has also participated in CDP’s Non-Disclosure Campaign and the CDP-led Science Based Targets project. Moreover, Aktia reports annually on climate change in the CDP portal. In 2021, Aktia became a public supporter of TFCD (Task Force on Climate-related Financial Disclosures) and reports in accordance with these recommendations. As an indication of Aktia's expertise in financial management, Morningstar awarded Aktia as Finland's best fund house in February 2022. Aktia won the award as the best fixed income fund house for the eighth time.

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FINANCIAL MANAGEMENT,INVESTMENT MANAGEMENT

Investment Banking Firm Outcome Capital Launches Advisory Practice

Outcome Capital | August 26, 2022

Outcome Capital, a highly specialized life science and healthcare investment banking group, today announced the formal launch of an Advisory Services Practice in response to demand from client companies and their Boards for earlier access to Outcome’s broad scientific, clinical, financial and strategy capabilities. The firm’s advisory services will include bespoke tax and accounting solutions provided by Michaele Esdale, PhD, CPA, who joined the firm earlier this year. “We are excited to offer our Advisory Practice as a complement to our investment banking services, and Michaele’s deep accounting background deepens the breadth of our services to enable full-scope analysis. Her additional services will provide our clients with end-to-end, strategy creation to financial service offerings that clients will benefit from significantly,” - Arnold Freedman To meet Outcome’s deep commitment to the life science sector, the firm has already assisted numerous innovative companies, family offices and venture firms seeking “pre-transaction” guidance and support in anticipation of future exit events and capital requirements. The company will now formally offer life science and healthcare management, Boards and investors with access to the firm’s strategic and financial expertise through the new Advisory Services Practice. Services provided will include proprietary data and analytics platforms, modeling and valuation frameworks, portfolio management expertise, financial statement analysis, earnings optimization, exit planning and scenario analysis, along with a myriad of corporate development services. In addition to Dr. Esdale, these services will be provided by Outcome’s legacy strategy and finance groups, led by Co-Founders and Managing Directors Oded Ben-Joseph, PhD, MBA and Arnold Freedman, along with senior management: Ellen Baron, PhD; Paul Mieyal, PhD, CFA; Karl Hess; Craig Steger; Michael Casasanta, PhD; Thomas Busby and Nicholas Frame, PhD. Dr. Ben-Joseph commented, Technologies can all too easily drift from what the market is truly seeking, and a strong corporate development function reduces extraneous costs and increases the likelihood of transacting. Curiously, however, one of the last positions filled for many life science companies is related to corporate development, which is an instrumental role in our industry. Since Outcome’s inception, we have found management teams at a disadvantage when initiating transaction work too late and we often represent clients who have conveyed their regret in not engaging sooner after seeing the benefits we can offer. Therefore, although our team has already been undertaking this strategic work routinely, we are looking forward to formally offering services to address these corporate development needs. Dr. Esdale is a CPA with over twenty years of experience spanning accounting and taxation in a variety of senior public and private roles. Prior to Outcome Capital, Dr. Esdale spent nearly two decades in academia, authoring over 30 publications in both academic and professional journals. Concurrent to her time in academia, Dr. Esdale was a national tax instructor for PwC and KPMG, where she taught a wide variety of topics including mergers and acquisitions, corporate tax and the ins and outs of net operating losses. Dr. Esdale’s operational expertise includes CFO and COO positions for a technology company that provided clinical trial data-sharing software to multinational pharmaceutical companies. She is a 2019 Boston Business Journal 40 Under 40 Honoree. Dr. Esdale commented, I am looking forward to the opportunity to assist growth-stage companies with business optimization strategies. The financial advisory services we provide assist in maximizing current profitability and instituting best practices, while also serving to implement necessary infrastructure for future growth and exit strategies. About Outcome Capital Outcome Capital is a highly specialized life science and healthcare advisory and investment banking firm, providing innovative companies with a value-added, market-aligned approach to mergers & acquisitions, partnering and corporate finance. The firm leverages its proven ‘strategy-led execution’ approach to value enhancement by assisting management teams and their boards in navigating both financial and corporate markets and implementing the best path for success. The firm’s strength stems from its multi-disciplinary, industry experts who draw from their broad relationships and a wide range of scientific, operational, strategic and transactional expertise across the value chain. Comprised of former CEOs, business development executives, venture capitalists, PhD/MD-level scientists and clinicians, and experienced commercialization experts, our team is driven to propel innovation from bench to bedside.

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FINANCIAL MANAGEMENT

FTFT Signs MOU to Acquire Alpha International Securities

Future FinTech Group Inc. | September 12, 2022

Future FinTech Group Inc., a blockchain application technology developer and a fintech service provider, announced today that on September 1, 2022, Future FinTech (Hong Kong) Limited, a wholly owned subsidiary of the Company, signed a Memorandum of Understanding for Equity Acquisition (the 'MOU') to acquire Alpha International Securities (Hong Kong) Ltd. (Alpha Securities) from Alpha Financial Limited, a firm based in Hong Kong. The purchase price and acquisition terms of the acquisition are to be determined pending due diligence and a financial audit of Alpha Securities by FTFT HK, with a formal acquisition agreement to be executed within 60 days after the parties are satisfied with the results of the due diligence and a mutual agreement as to the terms of the acquisition. The MOU stipulates that for a period of two months, Alpha Financial Limited will not engage in activities with any other party pursuant to the sale of Alpha Securities. The MOU represents terms for a proposed transaction subject to definitive documentation and is non-binding except for its 'Confidentiality and Exclusivity' and 'Governing Law and Dispute Resolution' sections. Steven Xiang, General Manager of Alpha Securities, stated, Alpha Securities mainly focuses on three financial services sectors: Online brokerage services consisting of Hong Kong equities as well as US equities, where we work with our partner, a US brokerage firm, The underwriting and distribution of securities for Hong Kong IPOs, and The underwriting of US dollar-based bonds issued by Chinese municipal cities and companies in Hong Kong. We hold Type 1 'Securities Trading', Type 2 'Futures Contract Trading' and Type 4 'Securities Consulting' financial licenses issued by the Hong Kong Securities and Futures Commission. Mr. Xiang continued, The Alpha Securities management team has substantial international financial markets experience and our principal team members are from well-known financial institutions. We have over 30,000 customer accounts and have underwritten 29 IPOs in Hong Kong since July 2020. In terms of our offshore China US dollar bond issuance, we underwrote approximately US$1.34 billion for nine municipal investment funds and enterprises. "Alpha Securities is committed to providing customers with a full range of financial services in Hong Kong including online brokerage services, IPOs, rights issuances for listed companies, financial advisory services and US dollar-based Chinese municipal and enterprise bond issuance services among our other services." - Alpha Securities' Mr. Xiang Shanchun Huang, Chief Executive Officer of Future FinTech, commented, We believe that this potential acquisition will be synergistic with Nice Talent Asset Management Limited (NTAM), our 90%-owned asset management subsidiary also based in Hong Kong, as well as other financial services businesses that we are developing. We believe that Alpha Securities could also play an important role in our continued transformation as we internationalize and diversify our business and income flows. Our objective is to become a diversified fintech enterprise that optimizes current opportunities and integrates them into a comprehensive and strategic business platform. About Future FinTech Group Inc. Future FinTech Group Inc. is a blockchain application technology developer and fintech service provider incorporated in Florida. The Company's operations include a blockchain-based online shopping mall platform, Chain Cloud Mall (CCM), supply chain financing services, asset management, and cryptocurrency market data services. The Company is also engaged in the development of blockchain based e-Commerce technology and cryptocurrency mining, cryptocurrency investment management as well as financial service technology and business.

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Spotlight

Financial advisors are questioning their value propositions. They want their clients to reach long-term financial goals and objectives. Yet, advisors find themselves caught in a performance paradox. Despite their best intentions, many advisors have been justifying their worth based on market and investment product returns in the short term rather than performance that is personal to the client over the long term.

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