November 27, 2020

Ex-Wells Fargo CEO John Stumpf misled investors in accounts scam: SEC

first_imgJohn Stumpf, chief executive officer of Wells Fargo & Co., waits to begin a House Financial Services Committee hearing in Washington, D.C., U.S., on Thursday, Sept. 29, 2016.Andrew Harrer | Bloomberg | Getty Images Wells Fargo was later found to have inflated that metric by putting millions of customers into products without their consent, a scandal that cost Stumpf his job in 2016 and even that of his successor Tim Sloan. Current CEO Charlie Scharf took over a year ago and has been tasked with overhauling the fourth biggest U.S. bank and satisfying regulators’ demands for better controls.“If executives speak about a key performance metric to promote their business, they must do so fully and accurately,” said Stephanie Avakian, director of the SEC’s Division of Enforcement.The SEC’s complaint, filed in California, charges Tolstedt with fraud and seeks penalties and to ban her from being an officer or director of a public company.- Advertisement – Ex-Wells Fargo CEO John Stumpf and former deputy Carrie Tolstedt were charged by the Securities and Exchange Commission with misleading investors about the bank’s success in selling multiple products to customers.Stumpf agreed to pay a $2.5 million civil penalty to resolve the matter, allowing him to avoid admitting or denying the charges, the SEC said Friday.The two executives had certified in 2015 and 2016 investor disclosures that touted the firm’s supposedly robust “cross-sell” metric, despite knowing it was misleading, the SEC said in a statement. The metric is an industry term for how many products a single customer has.- Advertisement – According to the SEC’s complaint, Tolstedt publicly endorsed the firm’s vaunted cross-sell metric from 2014 through 2016, despite the fact that it was “inflated by accounts and services that were unused, unneeded, or unauthorized.”In an e-mailed statement, Tolstedt’s lawyer Enu Mainigi called his client “an honest and conscientious executive.”“It is unfair and unfounded for the SEC to point the finger at Ms. Tolstedt when her statements were not only true but also thoroughly vetted by others as part of Wells Fargo’s policies, procedures and systems of controls,” Mainigi said. “Ms. Tolstedt acted appropriately, transparently and in good faith at all times.  We look forward to setting the record straight and clearing her name.”Earlier this year, Wells Fargo paid $3 billion to settle several U.S. probes into its operations, including a $500 million deal with the SEC. The regulator said it will distribute money collected from Stumpf and the bank to investors.center_img – Advertisement – – Advertisement –last_img read more

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Hvar UHPA’s domestic destination in 2019

first_imgAfter Crikvenica, in 2019 Hvar will be the home destination of UHPA.Recognizing the intensive development and exceptional results and growth of tourist indicators of the destination, as evidenced by this year’s celebration of 150 years of organized tourism, Hvar will be signed as a recommended domestic destination by UHPA in all communication and promotional channels of the association to contribute to even better positioning. recognizability and promotion of the destination through strengthening the tourism sector, point out the UHPA.The official signing of the Marketing Cooperation Agreement with the city of Hvar will take place on Monday, December 10, 2018, in Zagreb,UHPA Days in 2019 will be held in VinkovciUHPA Days is an annual meeting organized by UHPA, the largest national professional association of travel agencies, bringing together more than 150 participants, travel agencies – UHPA members, representatives of the Ministry of Tourism, Croatian Chamber of Commerce, Croatian National Tourist Board, tourism professional associations and other Croatian stakeholders. tourism sector.This is a great opportunity for the whole of Slavonia to present its tourist offer to travel agencies and meet agents and representatives of travel agencies directly on the spot. Thus, 2019 will certainly be a great positive turning point for Slavonia, since the UHPA Days and the Days of Croatian Tourism (Vinkovci, Osijek) will be held in Slavonia.RELATED NEWS:IT’S OFFICIAL! UHPA DAYS 2019 WILL BE HELD IN VINKOVCIlast_img read more

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Portfolio puts new deals in the Frame

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Diana Containerships Extends Charter Deal with OOCL

first_imgGreek boxship owner Diana Containerships has agreed to extend the present time charter contract with Hong Kong’s Orient Overseas Container Line (OOCL) for one of its Post-Panamax vessels.Under the agreement, the company’s 2006-built Pucon will continue working for OOCL at a gross charter rate of USD 18,000 per day.The charter extension, scheduled to commence on June 22, 2018, was agreed for a period of eight to twelve months.The 6,541 TEU container vessel is currently chartered at a gross charter rate of USD 10,750 per day.Diana Containerships informed that the employment extension is expected to generate USD 4.32 million of gross revenue for the minimum scheduled period of the time charter extension.last_img read more

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In two countries with liberal regimes, abortion rates have increased

first_imgIona Institute 6 March 2020Family First Comment: Two national reports on abortion, one from the Netherlands and one from England and Wales, have confirmed that abortion rates do not decline with more liberal laws, as the pro-choice incorrectly repeatTwo national reports on abortion, one from the Netherlands and one from England and Wales, have confirmed that abortion rates do not decline with more liberal laws, as the pro-choice incorrectly repeated during the referendum campaign.The recently published official report from the Netherlands, which refers to the year 2018, shows that both the number of abortions per women aged 15-44 (abortion rate) and per pregnancy (abortion ratio) are at their highest historical peak.In 2018, in the Netherlands there were 8.8 abortions per 1,000 women aged 15-44, which is equivalent to 164 per 1,000 pregnancies.During the debates before the referendum, the Netherlands were often presented as an inspiring model because of their long tradition in teaching sexual education and offering access to contraception. (In fact, sex education is done in various ways in the Netherlands and it is by no means all liberal in character). One of the experts told the Joint Oireachtas Committee that the Netherlands is one of the countries were “abortion rates have fallen”.But, as the graphics show, both the abortion rate and the abortion ratio have increased with time, and they are now at their top levels. They have, in fact, doubled since 1990.This week the UK Office for National Statistics presented the 2018 conceptions data for England and Wales.The report claims that “the percentage of conceptions leading to a legal abortion among all women resident in England and Wales increased from 22.7% in 2017 to 24.0% in 2018, the highest percentage since records began in 1990.” This is despite the fact that the conception rate among teenagers has continuously declined in the last 20 years and it is now at its lowest level (partially due to teenagers spending far more time at home, socialising online).READ MORE: read more

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Smallpox decision deferred again

first_imgThe viral disease was eradicated over 30 years agoA decision on when to destroy the last known stocks of live smallpox virus has been put off for another three years.The World Health Organization (WHO) agreed to resume the discussion in 2014, following debate this week at its annual meeting.Countries were divided on the issue at the 64th World Health Assembly.Iran led opposition to a plan backed by the US and Russia to set a date for destruction in 2016.There has been a lot of discussion around the smallpox issue,” Pierre Formenty of the WHO told a news briefing in Geneva.“Three years from now, we will resume the discussion.”The issue was first discussed at the Assembly in 1986 and has been the source of debate ever since.Destroying the remaining stocks of variola, or small pox virus, is seen by some countries as the final chapter in eradicating the disease to prevent the risk of accidental release.Others, including the US and Russia, argue for more research in case smallpox returns, possibly as a biological weapon.BBC News 20 Views   no discussions Share Sharing is caring! HealthLifestyle Smallpox decision deferred again by: – May 24, 2011center_img Share Share Tweetlast_img read more

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Roman Catholic Church alarmed at upsurge in St Lucia suicides

first_imgFaithLifestyleNewsRegional Roman Catholic Church alarmed at upsurge in St Lucia suicides by: – April 19, 2014 71 Views   no discussions Share Share Sharing is caring!center_img Share Tweet CASTRIES, St. Lucia, CMC – The Roman Catholic Church, alarmed at what it says is an upsurge in suicides in St. Lucia, says it is joining forces with the Caribbean Centre for Family and Human Rights (CARIFAM) in a bid to deal with the situation.Roman Catholic priest, Father Linus Clovis said he does not think enough is being done locally to assist persons who may be prone to suicidal actions.He said he had been in contact with Samaritans, a registered charity aimed at providing emotional support to anyone in emotional distress struggling to cope, or at risk of suicide throughout the United Kingdom and Ireland often through their telephone helpline, to obtain their help with the local initiative.Father Clovis said the plan is to set up telephone help lines where individuals at risk, their friends, relatives or other concerned individuals can call for and receive assistance.“The problem we face of course is to get the counsellors, so we’re looking at training people who would be willing to engage in that ministry, because it is a ministry, “ he said, adding that the issue of confidentiality needed to be addressed.However, he said he did not see it as an “insurmountable problem”, saying “it’s a matter of getting people we can trust.”According to Father Clovis, a building to house the suicide help centre has already been identified and funding is being sought to furnish it.Local authorities have expressed concern about an alarming number of suicides for last year and this year, and while they have not provided figures, authorities here are probing whether or not a young man who drowned near the main port in the capital, had in fact committed suicide.Caribbean Media Corporationlast_img read more

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Alaba: Bayern Munich reject Man City’s offer

first_img Promoted Content14 Hilarious Comics Made By Women You Need To Follow Right NowWho’s The Best Car Manufacturer Of All Time?The Very Last Bitcoin Will Be Mined Around 2140. Read More9 Facts You Should Know Before Getting A Tattoo5 Of The World’s Most Unique Theme Parks6 Most Overpowered Live Action Disney CharactersBirds Enjoy Living In A Gallery Space Created For Them7 Facts About Black Holes That Will Blow Your MindWho Is The Most Powerful Woman On Earth?10 Risky Jobs Some Women Do5 Of The World’s Most Unique Theme Parks11 Strange Facts About Your Favorite TV Shows Loading… Bayern Munich wing-back, David Alaba, has resisted an attempt from Manchester City. Indeed, BILD says City have already been in contact with Alaba’s minders about an offer for next season. Read Also:Russia 2018: David Alaba in Super Eagles Camp However, the Austria international, 27, has rejected the enquiry as he favours a move to Spain ahead of the summer market. FacebookTwitterWhatsAppEmail分享 Alaba has spoken in recent days that his cycle with Bayern could be over. This has alerted Europe’s biggest clubs, including Real Madrid, Barcelona and City.Advertisementlast_img read more

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Women of Troy win three individual titles, place third

first_imgThe No. 14-ranked Women of Troy closed out the 2015 Pac-12 Women’s Swimming and Diving Championships at the Weyerhauser King County Aquatic Center in Federal Way, Washington with a third- place team finish and three individual titles.After the first day of competition, USC was fourth. The Women of Troy were able to improve to third overall, where they remained through the conclusion of the meet. USC finished third with 1109 points. California won the team title with 1629.5 and Stanford finished second (1401). Arizona was fourth (954.5), followed by UCLA (951.5), Utah (652), Arizona State (610), Washington State (369.5) and Oregon State (286).Junior Kendyl Stewart kicked off USC’s winning streak on Friday, winning her second career title in the 100 yard fly. Stewart won the 100 yard fly in 51.10, 0.04 ahead the second place finisher. Stewart first won the 100 yard fly Pac-12 title as a freshman in 2013 when her 51.32 broke Lindsey DePaul’s 2011 record time of 51.34. With the 51.10, Stewart broke her school record in the race for the second time in two weeks, as she had improved it to 51.25 against UCLA on Feb. 13.“The race felt strong and sharp from the beginning,” Stewart said. “I’m happy to have a best time under my belt heading into NCAAs in a couple of weeks. It’s also awesome to score some big points for the team to help secure a top-3 finish.”On Saturday, senior Haley Ishimatsu became the first Pac-12 woman to win the platform three straight years and was also named the Pac-12 Women’s Swimming and Diving Scholar-Athlete of the Year. Ishimatsu won her third platform championship with 368.75. Her final dive in a five-dive set earned her an impressive six 9.0s and one 8.5.Her performance makes her the second woman to win the platform title three times in her career.“I’m so thankful for competing so well at Pac-12s the past three years,” Ishimatsu said. “I’m very honored to be the three-time Pac-12 platform champion. I’m also honored to be the Pac-12 Scholar Athlete of the Year. I’m excited for the NCAA zones next week and NCAA championships.”Senior Andrea Kropp added another individual title to USC’s collection with a win in the 200 yard breast. It was her first career conference title. Kropp made her third straight appearance in the   Pac-12 200 yard breast final and this time was able to take home a victory in her final Pac-12 championship, winning in 2:08.51, 0.85 ahead of Stanford senior Katie Olsen (2:09.36).Kropp is USC’s first 200 yard breaststroke title winner since              six-time Olympic medalist Rebecca Soni won in 2009.“It was so amazing to be able to win my first Pac-12 title in my last race with the entire team,” Kropp said. “Having all of them behind me gave me the motivation that I needed to swim fast when it got tough. Winning and getting such a good time gives me confidence and only makes me even more excited for the upcoming NCAAs.”The NCAA Championships will be held in Greensboro, North Carolina, on March 19-21.last_img read more

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Michael Gbinije will be Syracuse’s starting point guard

first_imgMichael Gbinije, after starting at forward for most of last season, will be Syracuse’s starting point guard this coming season.Gbinije’s move to starting point guard was reported by CBS Sports’ John Rothstein on Tuesday afternoon, and Gbinije has been practicing at point guard with Trevor Cooney as his backcourt mate in the last couple weeks.The combo-guard/forward handled the ball for the Orange throughout last season, and averaged a career-high 12.7 points per game while starting in 24 of SU’s 31 games. The move likely relegates point guard Kaleb Joseph to the backup role behind Gbinije, who stands 6 feet, 7 inches and will provide a lot of length at the top of Syracuse’s zone.This will be Gbinije’s final season for the Orange, which opens its campaign on Nov. 13 at home against Lehigh. Syracuse fans will get their first chance to see the 2015-16 team on Friday during Orange Madness in the Carrier Dome. AdvertisementThis is placeholder text Comments Published on October 13, 2015 at 5:54 pm Contact Sam: | @SamBlum3 Facebook Twitter Google+last_img read more

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