Category: Watchdog
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Spiralling UK tax administration costs blamed on complex system, warns watchdog
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The UK tax system has become expensive and is increasingly difficult to manage, with the increase in administrative expenditures for both the government and companies, according to a report from the National Audit Bureau (NAO). The spending control authority warned that the increasing complexity in the tax rules paid the…
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Spiralling UK tax administration costs blamed on complex system, warns watchdog
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The UK tax system has become expensive and is increasingly difficult to manage, with the increase in administrative expenditures for both the government and companies, according to a report from the National Audit Bureau (NAO). The spending control authority warned that the increasing complexity in the tax rules paid the…
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Online sellers on Walmart’s Flipkart sue India watchdog over antitrust probe By Reuters
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By Aditya Kalra NEW DELHI (Reuters) – Three online sellers working for Walmart-owned Flipkart have sued India’s antitrust watchdog over an investigation that found they, Flipkart and rival Amazon (NASDAQ:) violated competition laws, according to court filings seen by Reuters. The filings come after antitrust investigations that concluded in August…
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Brazil watchdog moves to block access to Elon Musk’s X after court order By Reuters
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Written by Lisandra Paraguaso, Luana Maria Benedetto and Ricardo Brito SAO PAULO/BRASILIA (Reuters) – Brazil’s telecommunications regulator said on Friday it will continue to suspend access to Elon Musk’s social media network X in the country in compliance with an order from a judge embroiled in a months-long dispute with…
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NASA watchdog hits Boeing on quality control problems with Space Launch System (NYSE:BA)
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sanfel/iStock Editorial via Getty Images NASA’s internal oversight body has released a new report. a report Serious quality control flaws found on Boeing aircraftNYSE:BAThe factory is working on the next version of the space launch system. NASA’s Office of Inspector General said: Discover big problems With Boeing (BA)) Work on…
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Watchdog bans Gemma Collins advert promoting headset to treat depression
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The UK’s advertising watchdog has banned an Instagram post by TV personality Gemma Collins in which she promoted a headset as a treatment for depression. The Advertising Standards Authority (ASA) ruled that the ad discouraged seeking professional medical advice. In the video posted in May 2023, Collins wore the Flow…
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Swiss financial watchdog FINMA rolls out guidance for stablecoin issuers
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Swiss regulator FINMA has published guidance for issuers of stablecoins, urging them to verify the identity of all persons holding digital tokens linked to fiat currencies. The Swiss Financial Market Supervisory Authority (FinMarket Supervisory Authority) has published new guidance on the risks and challenges associated with stablecoins for issuers and…
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Record £48 Million in Fines Levied by UK Watchdog on Audit Firms
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Britain’s accounting watchdog, the Financial Reporting Council, has imposed a record £48.2m in fines over the past year, after completing several high-profile investigations, including audits of Carillion and London Capital & Finance. The Financial Reporting Commission, which oversees the country’s audit and accountancy firms, has surpassed its previous record of…
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PayPal fined $27.3 million by Polish watchdog for ambiguous clauses By Reuters
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WARSAW (Reuters) – Poland’s antitrust and consumer watchdog said on Monday it had fined PayPal Europe 106.6 million zlotys ($27.3 million) for failing to make clear in contractual terms to consumers which activities could result in fines. UOKiK said that prohibited activities that could result in penalties were described in…
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Turkey’s Simsek to speak at FATF watchdog meeting in Singapore, state media says By Reuters
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ISTANBUL (Reuters) – Turkish Finance Minister Mehmet Simsek will deliver a speech at a Financial Action Task Force meeting in Singapore, Turkish state media said on Thursday, ahead of a decision by the international crime watchdog to remove Turkey from the “grey list.” The decision to remove Turkey from this…
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Washington Watchdog Issues Fraud Alert
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Washington state regulators are investigating Ethfinance, a cryptocurrency trading platform, after a local investor reported a staggering $310,000 loss. This case raises red flags about potential cryptocurrency scams targeting unsuspecting victims via social media. Ethfinance: Error in friend request The investor, whose name was not mentioned, according to Washington Department…
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Hong Kong’s privacy watchdog accuses Worldcoin of violating data laws
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Hong Kong’s privacy regulator found Worldcoin to be in violation of local privacy laws, and asked the Worldcoin Foundation to cease all operations in the region. Worldcoin, an iris biometric cryptocurrency startup co-founded by OpenAI CEO Sam Altman, has found itself embroiled in a controversy over data collection practices in…
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Hong Kong’s privacy watchdog accuses Worldcoin of violating data laws
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Hong Kong’s privacy regulator found Worldcoin to be in violation of local privacy laws, and asked the Worldcoin Foundation to cease all operations in the region. Worldcoin, an iris biometric cryptocurrency startup co-founded by OpenAI CEO Sam Altman, has found itself embroiled in a controversy over data collection practices in…
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Australian Court Gives Win To Watchdog
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Recent reports revealed that the Australian Securities and Investment Commission (ASIC) has obtained its first victory in a cashless payment case involving cryptocurrencies. According to the documents, an Australian court has partly ruled in favor of the watchdog’s claim against BPS Financial Pty Ltd (BPS). “Qoin Scheme” earns $26 million…