I think it was some high school teacher of mine that used to say, "Failing to plan is planning to fail." Of course, back then, those words fell on the deaf ears of a teenager. Only now, after many years as a corporate attorney, have I found myself repeating the statement myself to clients. Starting a business is not a "fly by the seat of your pants" venture. That is, at least if the business is intended to be a successful one. There are some common steps that every entrepreneur must take to get a business up and running. While not fully inclusive, the following checklist is a good place to start. … [Read more...] about A To-Do List for Business Entrepreneurs
According to Reuters, the government tapped a 50 year old policeman from a small fishing village to be a special prosecutor. In an interview with the news service, special prosecutor Olafur Hauksson claimed that no individual was too big to prosecute. "It is dangerous that someone is too big to investigate - it gives a sense there is a safe haven," he said. … [Read more...] about Iceland’s Response to Bank Fraud – A Lesson for the U.S.?
A recent survey by leading analytics company FICO revealed that 75 percent of senior fraud managers in Asia Pacific banks were prepared to stop working with business partners that fail cybersecurity audits. 65 percent of respondents confirmed that preventing cybercrime is a key focus in 2017, with the majority nominating cybercrime as having the largest potential financial impact on banks. … [Read more...] about No Cybersecurity? No Business, Banks Say
WASHINGTON/NEW YORK (Reuters) – Rival lenders privately congratulated the top U.S. consumer watchdog on its $100 million (71.41 million pounds) settlement with Wells Fargo over the bank’s phony accounts scandal, according to internal documents published by the Consumer Financial Protection Bureau this week. … [Read more...] about Rival banks applauded U.S. watchdog on 2016 Wells Fargo settlement
FRANKFURT (Reuters) – The possible replacement of Deutsche Bank <DBKGn.DE> CEO John Cryan could be discussed on a supervisory board call scheduled on Sunday evening by Chairman Paul Achleitner, two people familiar with the matter told Reuters. … [Read more...] about Deutsche Bank chairman to hold call with board over CEO