Prosecutor pushes for more LLC transparency

first_img Message* The law mandates that corporations, limited liability companies and even limited partnerships report the name, date of birth, address and a unique identifying number for each beneficial owner.The companies must file the information with the Financial Crimes Enforcement Network. While it would not be public, financial institutions could request it with the consent of the company that reported it. Existing companies have two years to comply with the new rules.Vance also called for Treasury to expand the “Know Your Customer” rules in the Patriot Act, which require banks to make an effort to verify the identity of those they do business with. Vance wants the agency to expand that requirement to private equity firms, the real estate industry and lawyers involved in large transactions.Terri Adler, who chairs the real estate practice group at law firm Duval & Stachenfeld, said Vance should let the Corporate Transparency Act roll out before expanding it. She said additional reporting requirements, particularly those that make personal information public, could drive investors to markets which provide more anonymity.“If you want to use a special purpose entity to buy your Florida condo, and you don’t want people to come to your home and stalk you, that should be okay,” said Adler. “A chill on real estate transactions will happen if this becomes some expansive witch hunt.”The attorney said the phrase “shell company” has taken on an undeservedly negative connotation.“In reality, every real estate transaction on the commercial side is done through a special-purpose entity that creates an isolation of liability and bankruptcy risk so that the lender knows there aren’t other liabilities and other risks, and so it can accurately assess ownership and predict value,” she said.The reporting requirements mandated by the Corporate Transparency Act would curb the use of LLCs to launder money, Adler said. The law also provides some important carveouts — for banks, publicly traded companies, insurance companies and nonprofits, as well as any company that employs more than 20 full-time employees in the U.S. or has a physical office here, or generates more than $5 million in gross receipts annually.Contact Georgia Kromrei Share via Shortlink Cyrus Vance (Getty, iStock/Illustration by Alexis Manrodt for The Real Deal)A month after a federal law required more transparency on real estate transactions, Manhattan District Attorney Cyrus Vance wants it expanded.Vance is requesting the Treasury Department mandate more reporting from special purpose entities — notably limited liability companies — which are commonly used in commercial real estate deals.Vance also asked Treasury on Monday to end anonymous, all-cash purchases of homes. He said the agency could do that by requiring Geographic Targeting Orders on all such transactions. GTOs require title insurance companies to collect and report information about the people behind the deals.Vance said that information has been used to expose money-laundering schemes in a dozen metropolitan areas, including New York, but the Treasury Department should make it possible to get names faster and more easily.“Implementing these measures would signal a new era of anti-corruption, equal justice, and accountability for white-collar criminals in America,” said the district attorney.Vance’s push for expanded reporting comes on the heels of the passage of the Corporate Transparency Act, which became law on Jan. 1.Read moreCourt ends DA’s push to prosecute ManafortLeaked bank documents show South Florida real estate’s alleged ties to money launderingCongress re-examines bill that would expose beneficial owners of LLCs Full Name* Tags cyrus vanceLLCsMoney Laundering Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Email Address*last_img read more

Founder of Carphone Warehouse invests in HouseSimple

first_imgHome » News » Founder of Carphone Warehouse invests in HouseSimple previous nextProducts & ServicesFounder of Carphone Warehouse invests in HouseSimple28th January 20150672 Views Sir Charles Dunstone (right), founder of Carphone Warehouse and Chairman of TalkTalk and of Dixons Carphone, together with his business partner, Roger Taylor, last week committed a substantial investment of £5 million into online estate agents HouseSimple, Online Agency of the Year winner at The Negotiator Awards 2014.The investment highlights the increasing appeal of the online estate agency market, with many analysts projecting room for growth over the next few years, supported by the low cost nature of online estate agency.HouseSimple provides a full estate and letting agency service, from valuation guidance, photography, floor plans, hosted viewings, negotiation and full management of the sale or rental, through to completion, with costs starting from £290 which is generally cheaper compared the cost of a high street agent.Charles Dunstone said: “We believe estate agency is going to change considerably, with the future increasingly belonging to online estate agents. We like HouseSimple, we like its management and we like the idea of saving Britain’s home sellers billions of pounds, with a better experience. HouseSimple has the potential to be one of the industry’s real online winners, and we intend to be a core investor to help it achieve its full potential. That is what our investment today signals.”Alex Gosling (left), CEO of HouseSimple, added: “Online estate agency is a market whose time has come. People are fed-up with the expense and poor customer service of the High Street agents. We sell more of our properties than High Street agents, we achieve a higher asking price, less of our sales fall through, and we have much higher customer satisfaction ratings. To top it all, we only charge one tenth of the price they do. With Charles’ and Roger’s backing, we can now turn on the growth tap and save our customers an enormous amount of money and hassle.”Meanwhile, eMoov.co.uk has received a significant boost, securing a £1.5 million financing round led by London venture capital firm Episode 1.The funding comes amid growing interest in property tech companies among venture capital investors.Episode 1’s Managing Partner, Simon Murdoch, who was an early backer of numerous success stories including Betfair, LoveFilm and Zoopla, commented, “We love to invest in innovative companies who are obsessed about providing a fantastic service for customers in large markets. In our view, eMoov is just such a company. The company has the team, product and customer-centric approach to win in this exciting sector and we’re really looking forward to being part of that journey.”HouseSimple investment Carphone Warehouse January 28, 2015The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles 40% of tenants planning a move now that Covid has eased says Nationwide3rd May 2021 Letting agent fined £11,500 over unlicensed rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021last_img read more

USA: Northrop Grumman Gets Award for Supply Chain Integration

first_img View post tag: usa View post tag: Grumman Back to overview,Home naval-today USA: Northrop Grumman Gets Award for Supply Chain Integration View post tag: Supply Northrop Grumman Corporation’s Global Hawk production team has been recognized by Aviation Weekas a best practice in the area of Supply Chain/Value Chain Integration.The best practice recognition is designed to call attention to valuable information intended to share knowledge across the aerospace and defense industry. The Global Hawk program will be recognized at the Aviation Week Aerospace and Defense (A&D) Programs Conference held at the Arizona Biltmore this week. Brad Mulder, director of Global Hawk production programs for Northrop Grumman Aerospace Systems, will accept the award.“Because the Global Hawk platform includes a large distributed supply base team, it was imperative we utilize operational processes focusing on supply base performance, quality and affordability,” said Lisa Kohl, vice president of Global Supply Chain for Northrop Grumman’s Aerospace Systems. “This recognition highlights that focus which translates into value for our customers.” Kohl is attending the event as an industry expert addressing Top Supply Chain issues of 2012.The Global Hawk supply team was recognized for their successful consolidation of test and evaluation processes involving a large number of suppliers to the platform. It is the responsibility of the supply chain to ensure that various subsystems are received in time so products can be integrated into a single system delivery to the customer. The team faced a number of complicating factors in efficiently accomplishing this requirement. Challenges included the large number of suppliers providing products from radars and antennas to structural elements, as well as testing and evaluation being handled in many separate locations.The program successfully transitioned from a dispersed operational model to a more consolidated process in which Global Hawk development test activities were conducted at Edwards Air Force Base, Calif., and final integration and assembly were combined and accomplished at prime contractor Northrop Grumman’s Palmdale, Calif. facility.Northrop Grumman is a leading global security company providing innovative systems, products and solutions in aerospace, electronics, information systems, and technical services to government and commercial customers worldwide.[mappress]Source: irconnect, October 26, 2011 View post tag: gets View post tag: Northrop View post tag: chain View post tag: For View post tag: awardcenter_img Industry news View post tag: Navy View post tag: Integration USA: Northrop Grumman Gets Award for Supply Chain Integration October 26, 2011 View post tag: News by topic Share this article View post tag: Navallast_img read more

Food Inspection Report For Vanderburgh County

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Publication features student’s chemistry findings

first_imgMany scientists spend their careers dreaming of the day their work gets published. For Saint Mary’s senior Kate McMahon, that dream became a reality.McMahon was published in the “Acta Crystallographica Section E: Crystallographic Communications” in July for studies completed in her Advanced Lab Course, where she worked towards synthesizing a new chemical. Earlier this year, she succeeded. “The compound can be used in a variety of reactions,” she said. “It is one more piece to a bigger puzzle.” McMahon credits her success to the professors who helped her along the way.“The chemistry department as a whole is really good about advocating for us students and giving us the opportunities we need to do well,” she said. “Dr. Dominic Babbini worked with me directly on my research, but I can’t pick one that has helped me the most. They have all helped in different ways.”Two other students — fifth-year student Madison Sendzik and junior Erica Slogar — also had their undergraduate research published this year, and all three women presented their findings in Washington D.C. at the American Chemistry Society (ACS) National Meet and Exposition, which took place from Aug. 20 to 24.Slogar said in an email her Saint Mary’s education empowered her to make the most of this opportunity.“I was nervous about presenting at first, but the atmosphere of poster presentations at the conference is very informal,” Slogar said. “It is more of a time to discuss what you learned to other scientists. I got to learn new ideas from chemists who knew different ways to analyze the data I collected.” Sendzik explained that presenting her research introduced her to the field of professional chemistry. “It was an excellent opportunity for networking and meeting other students and professionals who are interested in the same type of research as I am,” she said. “I’m really grateful that I could attend what will hopefully be my first ACS conference of many.”McMahon said Saint Mary’s has helped develop her love of chemistry, which she discovered during high school.“I took it because the class was required, but I fell in love with it,” she said. “I thought it was cool to be able to take the small parts of our reality and turn them into something meaningful. I love how I can apply chemistry to my everyday life.” McMahon said she will continue to work with various faculty members and the administration to expand research opportunities on campus. She is in the midst of applying for fellowships but hopes to study abroad for a year after graduating. Following that, she will pursue graduate school.Tags: American Chemistry Society, chemistry, researchlast_img read more

The Chilean and Argentine Armies Conduct the Land SAR 2011 Joint Exercise in Antarctica

first_imgBy Dialogo September 30, 2011 These are the things that are nice seeing, brother countries working together for a common purpose, I await the day when my beloved Latin America can be a single country, without greedy interests, without divisions… The Chilean and Argentine Armies held 11 days of training in the white continent as part of the ‘Land SAR 2011’ joint exercise. Activities such as survival in the Antarctic and travel over glaciers were performed by troops from both countries as part of the training program known as PARACACH, a Spanish acronym for “Argentina-Chile Combined Antarctic Rescue Patrol”. The participants in the exercise belong to the exploration group at the Argentine Army’s Esperanza Antarctic Base and its counterpart at the Chilean Army’s General Bernardo O’Higgins Antarctic Base. The exercise encompassed a 173-miles trip in frigid temperatures, approximately -11.2 º F, with winds of up to 99 miles per hour. The Chilean Soldiers were divided into two groups. The first was made up of three explorers, a radio operations technician, a mechanic, and a nurse, who were combined with Argentine Soldiers. The second group was made up of a rescue patrol of three explorers, ready to intervene in the event of any unforeseen occurrence. The command post for the exercise was installed at O’Higgins Base, by way of a module using satellite communications and Barrett radios and a tracking module, a prototype in its class, with Canatec beacons. The German Space Agency collaborated with the exercise, providing satellite images. Prior to the exercise, a Chilean exploration group set up an emergency logistics post in the Mackenna Pass, around 21 miles south of the Antarctic peninsula, consisting of an easy-to-assemble Weatherhaven-type hut designed for environments with temperatures as low as -58º F and winds of over 93 miles per hour. The post includes radio and satellite communications systems. last_img read more

Smith gives address to the Board of Governors

first_img April 1, 2006 Regular News Smith gives address to the Board of Governors Smith gives address to the Board of Governors Gary Blankenship Senior Editor Being considered a long-shot candidate for Florida governor is no reason to lose your sense of humor.At least that was the view of state Sen. Rod Smith, D-Gainesville, as related to the Bar Board of Governors at its February 17 meeting.The Bar had invited all four major gubernatorial candidates — Smith and U.S. Rep. Jim Davis of Tampa for the Democrats and Attorney General Charlie Crist and Comptroller Tom Gallagher for the Republicans — to speak at the meeting, but only Smith’s schedule allowed him to attend.Smith began by recounting how the first major poll of the campaign put his support at 4 percent. “That was the good news,” he said. “The margin of error on the poll was 5 percent.”Smith went on to deliver what best could be described as an old-fashioned stump speech. He touched on his personal history and experiences, issues important to him, and how the Democrats can take back Florida. His ending was a fervent defense of an independent judiciary and legal system that received a standing ovation from the board.The son of farmers, Smith said he was the first in his family to go to college, much less law school. After 17 years in practice, he was approached to run for Eighth Circuit state attorney in 1992, and he defeated a two-term Republican incumbent. In 2000, he ran for the state Senate, winning a vacant seat that had been held by a Republican — a rarity in a state that has seen growing Republican majorities in the legislature.Smith said his approach is simple.“When we stay on the subjects that people talk about at their breakfast table, we do very well. Schools, affordable health care, affordable housing,” he said. “One of my opponents said, ‘I believe the next election should be about family values.’ I believe the next election should be about valuing families.”One way to show that is by education. Smith said Florida has the highest rate of ninth-graders who drop out before graduation. His solution is to fully fund the class-size constitutional amendment and boost the pay of teachers.“Not so long ago, we knew the secret was recruiting the best teachers and keeping them in the classroom,” Smith said. He told of one teacher who taught in Florida for 21 years, but then left to teach in Georgia where she earns $9,000 more.Schools and universities must also do better teaching math and science, as the U.S. is falling behind other countries in the region and around the world, Smith said. He added there is little good to have the Kennedy Space Center and the Scripps biomedical research facility in Florida if the state can’t produce scientists and engineers to work for those employers.Smith predicted the recently enacted state Medicaid overhaul that will have HMOs running the program will fail. He said the program might work in some urban areas where there are many health facilities, but it won’t work in rural areas where there may be only one doctor or clinic in a county.“We need to drive down the cost of pharmaceuticals through bulk buying and looking at re-importation [of drugs] for what it is — a way to drive down costs,” he said.Smith questioned why the state is talking about $1 billion of tax refunds when residents face paying more than that in increases on their property insurance. The money could be better used for the state’s disaster fund and last-resort insurance company, he said, adding private insurance companies are unlikely to help much.“When you’ve lost $32 billion, you can talk refunds ’til the cows come home and that’s not going to happen,” Smith said.He closed by defending the legal system and an independent judiciary, citing the Terry Schiavo case as an example. He noted he put together a coalition of 12 Democrats and nine Republicans to oppose the state getting involved in that case, and that he also requested the record from the trial court. Despite the intensity of debate, Smith said he was told that he was the only legislator to request that information.“Nineteen courts reviewed that record and the legislature should have stayed out of it,” Smith said. “The independence of the judiciary was at the heart of it. To me, it is the critical part of our system.”If elected, he vowed to push to return to the old way of appointing members to judicial nominating commissions, a system in which the governor appoints three members, the Bar appoints three, and those six choose three public members. Currently, the governor names all nine members, although four are chosen from a slate of nominees proposed by the Bar.“I will do nothing as governor, and I will not allow the legislature while I’m governor, to do anything that weakens the judiciary or use the budget to do that,” Smith said. “I do not think we should do anything that weakens the right of the little guy to go into court and have a shot at justice.. . . “Americans believe in their heart of hearts somebody wins and somebody loses [in court] and they’ll live with the results. And our democracy will be stabilized. People want the ability to turn to their peers and get a shot at justice that nobody owns and nobody buys.”last_img read more

COVID-19: Tensions arise between residents, officials over burials in Depok, Medan

first_imgThe administration said it previously faced similar opposition from locals near other public cemeteries, but Sidik refused to name the places.To prevent such incidents from repeating elsewhere, the administration has asked district heads to publicize the administration’s decisions related to COVID-19, including about the funerals of residents.Read also: Families, health workers face stigma over COVID-19Similar tensions between a city councilor and the local police chief over a funeral of a patient under close observation took place in Medan, North Sumatra on Monday.A member of the Medan Legislative Council, Edi Saputera, refused to comply with Medan Police chief Adj. Comr. Faidir Chan’s order to immediately bury the patient, who was the councilor’s relative, in line with the protocol for the funerals of persons with COVID-19.Edi reportedly insisted having a normal funeral ceremony, laying out the corpse in the home of another family member and allowing relatives view the deceased for a last time.The patient had been treated at the Madani General Hospital in Medan and was tested for the COVID-19 coronavirus, but the results had not been announced by the funeral, said Edi.”You [the police] are overreacting. Do not be like that. I am myself not afraid of death. What is wrong with death?” Edi, a National Awakening Party (PAN) politician told the police, as shown in a video circulating on the internet.”Let me swallow the coronavirus.”The North Sumatra administration had declared a state of emergency on Tuesday that would last through to May 29 following growing cases in the province. North Sumatra has been the hardest-hit province on Sumatra Island with 13 confirmed cases and one death. (dfr)Apriadi Gunawan from Medan contributed to this storyTopics : “The residents wish there had been an announcement at the neighborhood unit [RT] level. The RT head should have told them that there would be a funeral for a person with COVID-19 and they did not have to worry. This was what they were asking [about]: their safety,” Sidik told The Jakarta Post in a telephone interview on Tuesday.In compliance with safety protocols, the hospital that treated the patient had sprayed a disinfectant on the corpse, washed it, covered it in plastic and put it inside a coffin.The fast-spreading respiratory disease has so far infected 30 people in Depok. As a satellite city of Jakarta, the national epicenter of the outbreak, Depok’s number of confirmed cases was the highest in West Java.The residents’ opposition also related to the administration’s decision to bury a COVID-19 patient from Cimanggis district, also in Depok, at the Bedahan cemetery. Sidik said the administration chose to bury the patient at this cemetery because of the “emergency situation”, although there was an available cemetery in the district where the dead person used to live. Some nearby residents oppose the burial of a person with COVID-19 at the Bedahan Public Cemetery in Sawangan district in Depok, West Java claiming that the Depok administration had not been transparent over the condition of the deceased.The head of Depok’s Communication and Information Agency, Sidik Mulyono, went to the cemetery on Monday with the Health Agency head Novarita to mediate between the nearby residents and the administration.The residents expressed complaints about a lack of communication related to the decision to bury a COVID-19 patient in the cemetery.last_img read more

First US presidential debate fails to move investors

first_img“Right now it looks like an even split between Trump and Biden, so it is difficult for the markets to move,” said Ayako Sera, a market strategist at Sumitomo Mitsui Trust Bank in Tokyo.”What people are most concerned about is the fairness of the election and how it will be carried out.”Biden, 77, has held a consistent lead over Trump, 74, in national opinion polls, although surveys in the battleground states that will decide the election show a closer contest.The dollar index against a basket of currencies was flat at 93.817. US stock futures fluctuated slightly but markets and investors were largely stoic as an acrimonious first debate between US presidential candidates ended on Tuesday.Republican President Donald Trump repeatedly interrupted Democratic rival Joe Biden in the Cleveland debate, the first ahead of the Nov. 3 US presidential election, that touched on Trump’s taxes, the economy, the coronavirus pandemic and election integrity.While betting odds makers showed little change in the odds as the debate progressed, US stock futures initially rose as much as 0.6% before turning to be flat. Topics :center_img With more than a million Americans already casting early ballots and time running out to change minds or influence the small sliver of undecided voters, the debate showed the men trading barbs rather than moving the needle on investor perception.The first of three scheduled debates came at a fraught moment on Wall Street.The S&P 500 tumbled around 10% from record highs this month before recently paring some of those losses as investors worried about a prolonged recovery from the coronavirus and uncertainty related to the presidential vote.Many investors view Biden as more likely to raise taxes, and see a second term for Trump, who favors tax cuts and deregulation, as better for the overall stock market. At the same time, a Trump win could spark concerns over ramped up tensions between Washington and Beijing.In the run-up to the 2016 election, investors widely predicted that a Trump victory would hurt stocks due to his unpredictability and trade-war threats against China and Mexico.However, the S&P 500 surged 5% in the month following his unexpected election win in what was dubbed the “Trump trade”, as investors bet Trump would cut taxes and regulation, and boost infrastructure spending.”The markets almost always think they favor a Republican but did just fine under Clinton and Obama. There is comfort in that hindsight perspective regardless of what happens,” said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma, as he watched the debate.With expectations that the increased use of mail-in ballots by voters concerned about the coronavirus could mean no immediate winner is announced, S&P 500 options show investors are bracing for volatility in November and December.Trump declined last week to commit to a peaceful transfer of power if he loses, and said he expected the election battle to end up before the Supreme Court.last_img read more

Pierre-Emerick Aubameyang sends message of unity amid Granit Xhaka controversy

first_img Metro Sport ReporterWednesday 30 Oct 2019 7:32 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link1.3kShares Xhaka took part in training on Tuesday but will not play against Liverpool (Picture: Getty)Manager Unai Emery says Xhaka is ‘devastated’ by what happened, but he retains the support of his teammates – the majority of whom voted to give him the armband in the summer.AdvertisementAdvertisementADVERTISEMENTWhile there is a toxic mood around Arsenal at the moment, that does not appear to have seeped onto the training pitch with the squad in high spirits in the build-up to Wednesday’s Carabao Cup clash with Liverpool.There was a real feeling of unity on Tuesday, with Shkodran Mustafi uploading an image to Instagram of himself helping Aubameyang up off the ground.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityThe Gabon striker replied to the rather symbolic image with a message of his own, saying: ‘We come together, we leave together.’The post was liked by a host of Arsenal players, including Alexandre Lacazette and Ainsley Maitland-Niles, with the squad clearly keen to put the Xhaka controversy behind them.Mesut Ozil posted a similar message yesterday, writing: ‘No matter what – the only way is standing together as one.’Although Xhaka retuned to training he will not be in action on Wednesday night in the Carabao Cup, with Emery electing to rest a number of first-team players – including Aubameyang – as he looks to make use of his squad when they visit Anfield.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal Pierre-Emerick Aubameyang sends message of unity amid Granit Xhaka controversy Advertisement Advertisement The Gunners squad appear in high spirits despite Sunday’s incident with their skipper (Picture: Getty)The Arsenal squad are rallying around each other amid the controversy surrounding captain Granit Xhaka, with star striker Pierre-Emerick Aubameyang calling for ‘togetherness’.Aubameyang was tossed the skipper’s armband in Sunday’s 2-2 draw with Crystal Palace after Xhaka’s number was shown on the substitution board, with fans jeering him as he left the pitch.The Swiss midfielder sparked outrage by cupping his ear to supporters and telling them to ‘f*** off’, prompting calls for the 27-year-old to be stripped of the captaincy. Commentlast_img read more