A, B, C and D.

A, B, C and D. HAMMOND, La. — The long-term damage to BP’s reputation. As Mr. Hayward said to fellow executives in his London office recently, “What the hell did we do to deserve this?” ….And Garfield answer, -“Every work worth is worth working for…”


SUSPECTED LARGE SCALE GERMAN TAX EVASION: Authorities raid Deutsche Bank and 50 other firms. 28.04.2010 - 17:42 UHR, Around 50 German firms have been raided by police investigating suspected large scale tax evasion.The chief public prosecutor’s office searched more than 230 business premises across Germany – including those of international giant Deutsche Bank – as well as the homes of accused individuals. More than 1,000 officials from the tax fraud investigation office, theFederal Criminal Police Office (BKA) and different police authorities took part in the raids.
Searches also took place simultaneously in other EU member states. Around 150 people are under suspicion of VAT evasion over the trading of greenhouse gas emission permits. Wednesday morning at 8.20am in Frankfurt: A large contingent of police and other officials arrived at Deutsche Bank. They pulled out their ID at the entrance and entered the building on Theodor Heuss Allee. Shortly afterwards, a convoy of vehicles with investigators and specialists from the BKA turned up and pulled into the underground car park with blue lights flashing. In response to an enquiry from BILD.de, a spokesman from the bank said: “We can confirm that we are one of the 230 entities which were searched. We are co-operating with the public prosecutor’s office.” A spokesman for another major institution, Commerzbank, said it had not been involved in the raids. WHAT IS IT ALL ABOUT? The trick is called VAT carousel or missing trader fraud, and according to BILD’s information the current suspected cases add up to a lost revenue of around €1 billion for the German government. HOW IT WORKS? Dealers in different EU countries buy and sell permits which allow industrial enterprises to release a certain amount of greenhouse gases. On the sale from dealer A to dealer B across a state border, no VAT is due. Upon the resale of the permits by dealer B to dealer C within the same country (i.e. Germany), VAT does become owed which dealer C can then claim back from the tax office. Dealer B owes the authorities 19 per cent in VAT – it doesn’t pay, but pockets the 19 per cent and disappears off the market. The permit is passed along from dealer to dealer until it arrives back at dealer A, which starts a new chain or carousel.

Five zeros for "Troika". " Troika Dialogue "has decided not to expend energy managers and consultants to clients who are not ready to trust the company more than $ 100 000. They remain content PIFami and online trading 29.04.2010, 77 (2595). Retail - not our target clientele. Of course we want in the future to offer services such as mutual funds and online trading, but retail customers, we have no plans to offer a full range of products and services, " Troika Dialog ", - said in an interview with a corporate magazine The Troiker Jacques Der Megreditchian, Chief Executive Officer . "Troika "has decided to focus on private clients with between $ 100 000, he said. "Why? " We already have a certain customer base, and besides we are working on developing markets, where money can be made and lost faster than the developed ones. That is, the client now has $ 300,000 in a few months can bring the company already millions "- explained Der Megreditchian. There are standard products, which after the sale does not require constant communication - such as mutual funds, financial instruments with capital protection, internet trading, but there are products that require an ongoing relationship between client and manager of the " Troika "- for example, brokerage or transaction account management with professional advice, he explained. These services and will provide clients with $ 100,000 or more. A trust management with a personal manager, for example, is available from $ 3 million
The "Troika" to be debugged triangle: money management, access to markets and commercial banking, he concluded. The benefits Der Megreditchian plans to see until next year, as a model for study of commercial banking services takes time. Services Internet trading " Troika "is available in the amount of investment from 50 000 rub., shares of mutual funds available, having a sum of 30,000 rubles. These thresholds will remain unchanged, said Der Megreditchian. The segment, which is going to work " Troika Dialogue " , the most attractive, says Victoria Denisov, deputy director of " Aton "by working with private clients: " We also intend to focus on it. " According to her, seylzy " Aton "aimed at attracting customers from $ 50 000, from investors with fewer assets the company also does not give up, providing them with standard products. According to Denisova, a client with assets of $ 100,000 brings the company a profit of $ 2000-8000 per year, $ 50,000 - $ 500-1500. If the dollar millionaires in the country 120 000-150 000, the client c The state of the $ 100,000 - five or six times, and this tidbit for all companies. " Renaissance Capital "is not engaged in the retail market in the field of Internet trading, in trust the entry threshold - $ 1 million, said his representative.


Not justified confidence. CC " Troika Dialogue "introduces clients astray, telling them how to manage their assets, decided the Federal Antimonopoly Service ( FAS) 30.04.2010, 78 (2596). FAS Board yesterday acknowledged that the information of the Criminal Code " Troika Dialog " on asset management was an act of unfair competition, as customers were injected into error with regard to consumer characteristics provide services, told "Vedomosti "several participants in the hearings. This award was announced verbally, the text is not ready yet, but the service will send a CC order to eliminate violations. Deputy Head of FAS Andrey Kashevarov confirmed this information, promising to fine the " Troika ". Customers " Troika "Natalia Komarova, Nina Nikitina, Andrei Shuhardin and Anatoly Miroshnichenko accused the company of a deviation from the agreed investment strategies, incomplete and unreliable reporting on the transactions by which they have suffered losses. The courts consider their claims for damages. " If the "Troika" will not achieve the abolition of the decision [FAS] in court, we will use it as evidence - said the lawyer Nikitina Roman Makarov. - But if the "Troika" appealing the decision in court, then the process will be public, but even we have not seen some of the documents that "Troika" presented directly to the FAS. " It is mainly about the affiliation of the Criminal Code " Troika Dialogue "and the fund Troika Russia Fund Inc. - according to Komarova, " Troika "the ban violated the Federal Financial Markets Service to acquire shares and shares of investment funds managed by the CC or its affiliates . At FAS there is direct evidence - and the regulator now see that the " Troika "for trust management transactions through the affiliate , ie, violated the law, I agree Makarov. In FFMS no official information about an affiliation of these companies. " We wrote "Troika" prescription for documents, but we can only receive formal information on the affiliation, FAS may make any inquiries, "- said the head of Federal Financial Markets Service Vladimir Milovidov. Yesterday's decision he called " symbolic ": " Thanks to FAS put an equal sign between the violation of the law on financial market and unfair competition. Anyone who breaks the law on the securities market - and even unfair competitor. Such offenders are lacking: everyone we fining and who will cancel the license - and violators of the law. FAS Board decided to send full information about a group of persons in the Federal Financial Markets Service. " For us, this is the information policy, which requires an adjustment, pursuant to [the actions of the Criminal Code] law on the securities market, we have not considered, we just informed the regulator, "- said the cook. Prior to receiving the documents Milovidov not talk about the consequences that may ensue for " Troika "on the results of their consideration. Pavel Teplukhin, head of the Criminal Code " Troika Dialog ", called the charges baseless customers. Yesterday, he declined to comment, asked to address the " Troika ", which he left in January. Its representative said the decision of FAS " unfounded ". According to him, the Criminal Code does not plead guilty to antitrust and competition law.