Thu.May 04, 2023

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Statement by Commissioner Uyeda on Form PF

Harvard Corporate Governance

Posted by Mark T. Uyeda, U.S. Securities and Exchange Commission, on Thursday, May 4, 2023 Editor's Note: Mark T. Uyeda is a Commissioner at the U.S. Securities and Exchange Commission. This post is based on his recent public statement. The views expressed in the post are those of Commissioner Uyeda, and do not necessarily reflect those of the Securities and Exchange Commission or the Staff.

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Advisor Feature: Jacob Middleton in Tampa, FL

Viking Mergers

Born and raised in Parkland, Florida, Jacob Middleton learned very early on the sacrifices a family will make for their business. Jacob lost his mother at a young age, just after his father opened his small optometry practice in Boca Raton. From then on, Jacob saw firsthand the challenges a parent can face to pursue successful business entrepreneurship for their family.

Start-ups 130
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Trending Sources

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Statement by Chair Gensler on Form PF

Harvard Corporate Governance

Posted by Gary Gensler, U.S. Securities and Exchange Commission, on Thursday, May 4, 2023 Editor's Note: Gary Gensler is Chair of the U.S. Securities and Exchange Commission. This post is based on his recent public statement. The views expressed in this post are those of Chair Gensler, and do not necessarily reflect those of the Securities and Exchange Commission or the Staff.

Banking 218
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Tourism in the metaverse: Can travel go virtual?

Mckinsey and Company

The travel industry is ripe for virtual disruption, and the metaverse presents a $20 billion opportunity—but some benefits are more assured than others.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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Can a Telehealth-Only Plan Continue After the End of the COVID-19 Emergency?

ThomsonReuters

QUESTION: During the COVID-19 pandemic, we established a telehealth-only plan to provide benefits to individuals who were not eligible for coverage under our regular group health plan. Can we continue to offer this benefit? ANSWER: During the COVID-19 pandemic, telehealth-only benefits have been exempt from certain requirements that otherwise apply to group health plans.

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Integrated channels: The next frontier beyond omnichannel distribution

Mckinsey and Company

Leading banks integrate channels and use their mobile app to orchestrate across digital and human interaction to provide a truly differentiated customer experience.

Banking 102

More Trending

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The importance of setting up client scope for your firm and clients

ThomsonReuters

The importance of setting a client scope agreement cannot be understated. For CPA firms, having clear expectations and boundaries with their clients can help avoid misunderstandings, scope creep, and other potential risks. Not only that, but investing in quality payroll solutions can save businesses time, money, and resources. In this article, we discuss the importance of setting a client scope agreement, what components make up a successful scope agreement, and why you should invest in one earl

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New leadership for a new era of thriving organizations

Mckinsey and Company

Five leadership shifts can unleash an era of sustainable, inclusive growth for companies looking to outperform in this era of disruption.

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ESG Investing Clearly Serves Pecuniary Interests

Reynolds Holding

It is a common refrain, mostly on the political right, that considering environmental, social, and governance (“ESG”) factors when investing is probably illegal. [1] The basis for this argument derives from the fiduciary duty of loyalty and its corollary, the “sole interest” or “exclusive benefit” rule, enshrined in both federal and state law, which prohibits fiduciaries from investing for any purpose other than the financial well-being of the beneficiary.

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The times for multiples: Five situations when multiples need more than a second look

Mckinsey and Company

Multiples can be a useful tool for valuation. But in some situations, they can wind up missing or even distorting the real picture.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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Goldman Says U.S. Is Investigating Its Work for Silicon Valley Bank

NYT M&A

Hired to help with a capital raise, Goldman Sachs advised SVB to make a move that provoked a public panic and ended with the smaller bank collapsing.

Banking 85
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Ready, set, go, and keep going: Why speed is key to a successful transformation

Mckinsey and Company

In today’s business environment, companies seeking to transform all or part of their businesses need to create value quickly.

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Arconic to Be Acquired by Apollo Funds

Business Wire M&A

PITTSBURGH--(BUSINESS WIRE)--Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) announced today that it has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (“Apollo”), in an all-cash transaction that values the Company at an enterprise value of approximately $5.2 billion.

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Court OKs Sale Of FTX's LedgerX Biz To Miami Exchange Co.

Law 360 M&A

Bankrupt crypto exchange FTX Trading Ltd. got a Delaware bankruptcy court's approval Thursday to sell its LedgerX LLC derivatives platform and clearinghouse business to a subsidiary of global trading company Miami International Holdings Inc. after no one raised objections to the $35 million cash sale.

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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Arconic Reports First Quarter 2023 Results

Business Wire M&A

PITTSBURGH--(BUSINESS WIRE)--Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) today reported first quarter 2023 results. Sales were $1.9 billion, down 12% year over year and up 6% organically due to strength in aerospace, packaging, and ground transportation sales partially offset by weak industrial sales. The Company reported net income of $25 million, or $0.24 per share, compared with $42 million, or $0.39 per share, in first quarter 2022.

EBITDA 98
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Same as It Ever Was: IRS Reconfirms Prohibition, Consequences of Health FSA and DCAP Substantiation Shortcuts

ThomsonReuters

IRS Chief Counsel Memorandum 202317020 (Mar. 29, 2023) Available at [link] The IRS Chief Counsel’s office has released a memorandum that addresses the substantiation requirements for medical and dependent care expenses and the consequences of various substantiation shortcuts. The memo reconfirms that medical expense reimbursements from a health FSA are included in an employee’s gross income if the health FSA fails to fully substantiate any expense of any employee in accordance with IRS rules (s

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Ares Management Serves as Lead Arranger and Junior Agent for $3 Billion in Financing to Support the Acquisition of Merchants Fleet by Bain Capital, ADIA and the Merchants Executive Team

Business Wire M&A

NEW YORK--(BUSINESS WIRE)--Ares Management Corporation (NYSE: ARES) (“Ares”) announced today that funds managed by its U.S. Direct Lending and Alternative Credit strategies served as the lead arranger and junior agent for $3 billion in asset-backed and operating company financing for Merchants Fleet (the “Company”) as part of the acquisition by Bain Capital, a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) and the Merchants executive team.

Finance 98
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Frank CEO Negotiating Disposition To Fraud Charges

Law 360 M&A

The founder of shuttered financial aid assistance company Frank is in negotiations with federal prosecutors to resolve fraud charges against her over an alleged scheme to swindle JPMorgan Chase into buying the company.

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Jamieson Wellness Inc. Completes Previously Announced Distributor Transaction in China

Business Wire M&A

TORONTO--(BUSINESS WIRE)--Jamieson Wellness Inc. (“Jamieson Wellness” or the “Company”) (TSX:JWEL) announced today that it has completed the previously announced agreement to acquire operating assets from its distribution partner in China for a purchase price of approximately $26 million CAD. This transaction is a significant step forward in the Company’s brand expansion in China, allowing it to directly connect with consumers while operating its sales, marketing and distribution activities.

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Appellate Court Agrees TPA Was Not a Plan Fiduciary

ThomsonReuters

Mass. Laborers’ Health and Welfare Fund v. Blue Cross Blue Shield of Mass., 2023 WL 3069637 (1st Cir. 2023) Available at [link] The First Circuit has upheld a trial court’s conclusion that a third-party administrator (TPA) for a self-insured multiemployer health plan was not an ERISA fiduciary based on its administrative activities (see our Checkpoint article ).

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Dar Completes Acquistion of Su-Yap?

Business Wire M&A

DUBAI, United Arab Emirates--(BUSINESS WIRE)--Dar Acquires Su-Yapı

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The importance of setting up client scope for your firm and clients

ThomsonReuters

The importance of setting a client scope agreement cannot be understated. For CPA firms, having clear expectations and boundaries with their clients can help avoid misunderstandings, scope creep, and other potential risks. Not only that, but investing in quality payroll solutions can save businesses time, money, and resources. In this article, we discuss the importance of setting a client scope agreement, what components make up a successful scope agreement, and why you should invest in one earl

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GAM board recommends £96mn takeover offer from Liontrust

Financial Times M&A

Swiss fund group strikes deal with London-listed asset manager after striving for weeks to secure future

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Columbia Law Professor Writes One of Top 10 Corporate and Securities Articles for 2022

Reynolds Holding

Eric Talley, Isidor & Seville Sulzbacher Professor and co-director of the Millstein Center for Global Markets and Corporate Ownership at Columbia Law School, was among the authors of one of the 10 best corporate and securities articles last year, the Corporate Practice Commentator has announced. Jens Frankenreiter, a former postdoctoral fellow at the Millstein Center, was one of his co-authors.

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Canada’s TD Bank scraps deal for US lender First Horizon

Financial Times M&A

TD ditches acquisition because of ‘uncertainty’ over regulatory approval

Banking 93
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Comment on Disparate Treatment and Impact in USPAP by Johnny Q

Appraisers Blog

More redundancy and gobbledygook for USPAP. The comps/market and analysis speaks for itself. Is the analysis sound, are the comps conditionally and locationally adequate and relevant to the subject. End of story. Who’s concerned about ethnicity or race and how can one appraise a property on that basis? It’s not the appraisers who request that photos of people, ethnic art, etc. be blocked or cropped from photos.

Comps 56
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Banking crisis/private equity: bargain prices create huge opportunities

Financial Times M&A

It is surprising that financial investors have not become deeply involved in bank rescues

Banking 81
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Comment on Disparate Treatment and Impact in USPAP by Mary T Thompson

Appraisers Blog

In reply to Baggins. Amen on that loan level price adjustment… talk about BIAS against those with higher credit scores so they can pay for those who have lower scores!

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Groupe SEB Announces the Acquisition of Pacojet, the Must-have Cooking Appliance for Chefs

Business Wire M&A

LYON, France--(BUSINESS WIRE)--Regulatory News: Groupe SEB (Paris:SK) is continuing its growth in the professional market with the acquisition of Pacojet, a Swiss family-owned company specializing in the development and marketing of a revolutionary culinary appliance that has been a favorite of chefs for thirty years.

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TD Bank-First Horizon: From Dawn To Dusk On A $13.4B Deal

Law 360 M&A

TD Bank's planned $13.4 billion acquisition of First Horizon Corp. was hailed as last year's biggest bank mergers and acquisitions deal, but prolonged approval delays and heightened regulatory uncertainty clouded its prospects for months before it was finally called off Thursday.

Banking 52
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Condor Technologies NV en Financière Wow SAS bereiken akkoord over de betaling van de aankoopprijs in het kader van de koopovereenkomst inzake 70% van de aandelen van Scan4All SAS van 28 november 2019

Business Wire M&A

GENT, België--(BUSINESS WIRE)--In een persbericht van 25 februari 2020 kondigde Condor Technologies de definitieve verkoop aan van 70% van de aandelen van Scan4All SAS aan Financière Wow SAS. Een deel van de aankoopprijs zou worden betaald door middel van een contractuele vereffening overeenkomstig de bepalingen van artikel 1348-2 van het Franse Burgerlijk Wetboek, waarbij (i). de totale aankoopprijs zou worden betaald in het kader van de terugko(o)p(en) door Condor Technologies van de 726.

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Ropes & Gray Taps M&A Partner To Co-Lead NY Office

Law 360 M&A

Ropes & Gray LLC announced Thursday that John Sorkin, a partner in the firm's private equity and mergers and acquisitions practices, has been named co-managing partner for its New York office.

Equity 52
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Driving Organizational Excellence and Value via Process Optimization

Redpath

While many leaders recognize the importance of leveraging best practices, they may not realize the critical role that accounting processes play in building the foundation for a successful future. The benefits of optimized accounting processes aren’t limited to the back office. A top-performing accounting and finance function can drive value and performance throughout your entire organization.

Finance 52
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Appraiser Newsroom - Untitled Article

Appraiser Newsroom

By: Jack Beckwith, ASA, CEA The IVSC Advisory Forum-Working Group (AFWG) just concluded their first face to face meeting since 2019 at the RICS Headquarters in London. Valuation Professional Organization Representatives attending from left to right were Gilles de Courcel from France; Aida Dedajic from The Appraisal Foundation; Ben Elder from United Kingdom; Val Chiasson from the Appraisal Institute; Dave Bunton with The Appraisal Foundation; Jack Beckwith with ASA; Reiner Lux from Germany; Leand