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    A controversy over the financial records of the Ohio Republican Party (ORP) erupted in the days leading up to Friday’s meeting of the ORP State Central Committee (ORPSCC), the party’s 66 member governing body, at Lewis Center’s Nationwide Conference Center.The committee is widely expected to endorse Gov. Mike DeWine (R-OH) at that meeting in his bid for re-election in the contested May GOP primary. Fork truck billionaire James F. Dicke II (pictured above), one of Ohio’s two National Committeemen on the Republican National Committee, ignited the controversy last month when he sent a message to all 66 members of the ORPSCC. Critics on the ORPCC, led by retired Ernst & Young partner Mark  A. Bainbridge , say Dicke’s message materially misrepresents the nature of the financial report, known as an Agreed Upon Procedures report, produced for the ORP by Compass Pointe, a small Indiana accounting firm. “You already know five State Central Committee members are falsely claiming that money is missing from ORP,” Dicke began his memo to the 66 members of the ORP. “This report, from an outside and...
    CRISTIANO RONALDO's transfer to Manchester United is being PROBED by the Italian authorities with a new search of Juventus' offices being ordered. Juventus' offices in both Turin and Milan were raided last Friday after accusations they falsely recorded the value of transfers between 2019 and 2021 to fit within Financial Fair Play Regulations. Player contracts, invoices and financial statements were seized as evidence. Club president Andrea Agnelli and vice-president Pavel Nedved, as well as Tottenham managing director Fabio Paratici are also under investigation. Reuters are reporting that a fresh search of Juventus' offices has been ordered to examine the financial terms of Ronaldo's £12.9million Man Utd transfer. The deal generated a negative economic impact of 14m euros on its results for the 2020/21 financial year, the club revealed at the time. La Gazzetta dello Sport state there are recordings of phone calls where Juventus directors discuss a document that 'should not have theoretically existed' regarding Ronaldo's move. Turin investigators are yet to find the document and Juventus directors have reportedly failed to explain the nature of the deal. The club...
    By Marc Jones LONDON, Aug 2 (.) – Central banks and financial regulators must urgently confront the growing influence of big tech, according to senior officials at the Bank for International Settlements (BIS), known as the “bank of central banks.” . Global watchdogs are increasingly wary that the vast amounts of data controlled by groups like Facebook, Google, Amazon and Alibaba could allow them to tweak finances to quickly destabilize entire banking systems. The BIS, in a document signed by its director, the Mexican Agustín Carstens, highlighted examples such as China, where the two large technology payments firms Alipay and WeChat Pay now represent 94% of the mobile payments market. China has already rocked its markets with a series of drastic measures against major technology and e-commerce companies. In November, regulators torpedoed Ant Group’s IPO and lately, tutoring companies have faced heavy scrutiny. Tech companies are quickly making their mark in many other areas, with some providing loans to individual and small businesses, as well as offering insurance and wealth management services. “The entry of big technologies into financial services...
    Jul 29 (.) – The International Monetary Fund should increase its resources as it seeks to “monitor, advise and help manage this complex and far-reaching transition” to digital money, according to a IMF document released Thursday. Digital money can make payments more accessible, faster and cheaper, the report said. But for that to happen, authorities must face key challenges: digital cash must be reliable, it must protect national economic and financial stability, and the stability of the international monetary system must be maintained. “The IMF has a critical role to play in helping its members take advantage of the benefits and manage the risks of digital money,” the IMF said. Importantly, digital money “must be regulated, designed and provided so that countries maintain control over monetary policy, financial conditions, capital account opening, and exchange rate regimes.” The document makes the distinction between central bank digital currencies, stablecoins and electronic money, on which it focuses, and crypto assets that include bitcoin. “Although different types of digital money are considered, this document is silent on which form may predominate.” The document, dated...
    Key facts: ESMA would have the power to directly supervise public offerings of cryptocurrencies. If the AMF proposal is applied, the practice of ESMA would be used in crypto regulation That there is a single authority in the European Union for the regulation of cryptocurrencies is the new approach of the Authority of Financial Markets (AMF) of France. This proposal, which is directed by the European Securities and Markets Authority (ESMA, for its acronym in English) was reflected in a document, which was based on the responses to a consultation carried out by the European Union, which disseminated the AMF during the current month under the title: “More European supervision and better regulation are key elements to build a true union of markets”. ESMA is an institution that supervises the markets in Europe, aims to improve the functioning of financial markets and promote cooperation between the member states of the economic bloc. The four-page brief says that: «granting ESMA the power to directly supervise Public Offerings of Cryptoassets in the EU (scrutiny of white papers) and of cryptoactive...
    Key facts: According to the PBoC, the appearance of cryptocurrencies led to the creation of this project. This is the first whitepaper published by the People’s Bank of China on the digital yuan. The People’s Bank of China published the first white paper on the digital yuan. The information was released on July 16, 2021 through a working paper for the project of its digital currency, known as e-CNY. The document dates back to 2014 to explain the background, characteristics and development of the initiative that led to the progress of the digital currency. The financial institution explained that one of the main causes for creating the digital yuan was the appearance of cryptocurrencies, the risks and challenges that they transferred to the current financial system. The PBoC wrote the following on this topic: Adopting blockchain and encryption technology, cryptocurrencies like bitcoin are claimed to be decentralized and fully anonymous. However, given their intrinsic lack of value, sharp price fluctuations, low business efficiency, and huge energy consumption, they can hardly serve as currencies used in daily economic activities....
    Erika Jayne has been accused of refusing to turn over bank statements related to her estranged husband's ongoing bankruptcy case. Leon Bennett/WireImage Erika Jayne refuses to turn over bank statements related to Tom Girardi's bankruptcy case, a new motion claims. It claims Jayne created new company Pretty Mess Inc. to hide her assets from the bankruptcy trustee. The trustee previously confirmed that Girardi gave Jayne a $20 million loan from his law firm. Visit Insider's homepage for more stories. "The Real Housewives of Beverly Hills" star Erika Jayne has been accused of refusing to turn over bank statements related to her husband Tom Girardi's ongoing bankruptcy case, according to court documents filed on Wednesday and obtained by Insider.  Girardi — once known for winning multimillion-dollar settlements as a personal-injury attorney  — has been forced into involuntary bankruptcy. Both he and Jayne have also been accused of using a "sham" divorce to hide millions in embezzled money from the widows and orphans of plane-crash victims. A bankruptcy trustee is now liquidating Girardi's assets to pay back creditors, according to...
    Widow pleaded for answers in husbands murder. Now she is in jail. House set to pass Biden’s $1.9T pandemic relief package By Huw Jones © Reuters/PETER CZIBORRA FILE PHOTO: Buildings are seen in the Canary Wharf business district, as a man cycles along a path, amid the outbreak of the coronavirus disease (COVID-19), in London LONDON (Reuters) - The City of London's finance industry would be worse off than rival New York under an early draft for a cooperation agreement in financial services between Britain and the European Union, a document, seen by Reuters, showed. Britain's financial services industry has been largely cut off from the EU, its biggest customer, since a Brexit transition period ended on Dec. 31 as the sector is not covered by the UK-EU trade deal. Trading in EU shares and derivatives, for example, has already left Britain for continental Europe. Both sides are committed to agreeing a memorandum of understanding (MoU) by the end of March on regular, informal talks about financial rules and market supervision. An early draft of this document, seen by...
    The Supreme Court denied a request by House Democrats Monday that sought to expedite the process of obtaining President Donald Trump’s financial documents. Chief Justice John Roberts denied the motion, according to a court document. The Supreme Court ruled earlier in July that Manhattan District Attorney Cyrus R. Vance Jr.’s subpoena that demanded access to the president’s finances could proceed, contrary to Trump’s claims that he bore immunity against the order, according to The Washington Post. The court document notes that Justice Sonia Sotomayor would have granted the request to decide on the House of Representatives’ subpoena immediately. Democrat lawmakers, following the ruling, requested similar access, but were blocked pending further review in a lower court, CNN reported.  House lawyer Doug Letter reportedly requested immediate acquisition on the subpoenas because he suspected “conflicts of interest” as well as possible “money laundering,” according to a court document. A man holds up a “Follow the Money” sign in front of the U.S. Supreme Court July 9, 2020 in Washington, DC. The Supreme Court has issued a 7-2 ruling that New York prosecutor...
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