1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
anastassius [24]
2 years ago
6

“Wealth Management Crisis aat UBS” (see file attached)

Business
1 answer:
Delicious77 [7]2 years ago
7 0

1. Based on the <em>“Wealth Management Crisis at UBS,”</em> my opinion is that the government and national culture of Switzerland, the U.S. Treasury, and some corrupt governments around the world, played a major role in aiding the tax fraud scandal committed by more than 52,000 U.S. residents.

The extent to which the corporate culture of UBS also contributed to the scandal is that the bank continued to help these U.S. residents to hide billions of dollars in untaxed assets.  Why should the bank deliberately hide accounts for U.S. residents?

2. The global financial crisis between 2007 and 2009 helped in uncovering the secret accounts and tax fraud scandal because its challenges encouraged the U.S. Department of Justice (DOJ) decided to investigate the tax frauds committed by foreign account holders.

The implication is that without the global financial crisis, the investigations that uncovered the tax fraud would not have been initiated by the U.S. Department of Justice (DOJ) soon.

3. It matters to the entities that could have been impacted by the scandal.  For instance, the U.S. Treasury was being deprived of hundreds of millions of dollars in taxes, according to the report.

Without the bailment from the Swiss government, UBS would have collapsed.  Many account holders would have lost their savings in the process.

There is no way no losses would not have been incurred if the scandal continued.

4. Importantly, we are not supposed to wait for the next global recession to uncover similar financial scandals and tax frauds around the world.

Thus, tax havens, like the UBS, must come under rigorous investigations from time to time.  Such regular investigations would deter would-be tax fraudsters and assets looters from committing to hiding their accounts.

Learn more about asset looting and Wealth Management crises at brainly.com/question/24554162 and brainly.com/question/25664180

You might be interested in
Predeparture language and cultural training can:a. significantly increase the cost of an international assignment. b. increase t
ryzh [129]

Answer:C. reduce uncertainty about how to act in a foreign country.

Explanation: Predeparture language and culturaln training are some of the basic essential trainings conducted for expertraites who are going on overseas assignment.

THE PURPOSE OF THIS TRAININGS IS TO REDUCE THE UNCERTAINTY ABOUT HOW TO ACT IN A FOREIGN COUNTRY.

Predeparture language training is a set of training focused on the General languages Accepted in a given country where an expertraite is to be posted.

Cultural trainings are trainings that are directed at the local customs and traditions of the foreign country where an an expertraite is to be posted.

7 0
3 years ago
Old economy traders opened an account to short sell 1,500 shares of internet dreams at $50 per share. The initial margin require
choli [55]
The rate of return on the investment
4 0
3 years ago
On January 1, 2018, David Mest Communications granted restricted stock units (RSUs) representing 25 million of its $1 par common
natima [27]

Answer:

See the explanation below.

Explanation:

Total compensation expenses = 25 million * 15 = $375 million

1. On December 31, 2018.

Compensation expenses = $375 million / 3 = $125 million

Journal entries will be as follows:

<u>Details                                               Dr ($'Million)          Cr ($'Million)  </u>

Compensation expenses                       125

Paid-in Capital - Restricted stock                                         125

<u><em>To record the compensation expenses for 2018.                                   </em></u>

2. On December 31, 2019.

Compensation expenses = [$375 million * 96% * (2/3)] - $125 million = $115 million

Journal entries will be as follows:

<u>Details                                               Dr ($'Million)          Cr ($'Million)  </u>

Compensation expenses                       115

Paid-in Capital - Restricted stock                                         115

<u><em>To record the compensation expenses for 2019.                                   </em></u>

3. On December 31, 2020.

Compensation expenses = ($375 million * 96%) - $125 million - $115 million = $120 million

Journal entries will be as follows:

<u>Details                                               Dr ($'Million)          Cr ($'Million)  </u>

Compensation expenses                       120

Paid-in Capital - Restricted stock                                         120

<u><em>To record the compensation expenses for 2020.                                   </em></u>

5 0
3 years ago
"Economists warn of an economic downturn. Investments and lending have risen as prices have skyrocketed. Unemployment is up as b
kipiarov [429]
For me, the incorrect passage would be "Investments and lending have risen". In an economic downturn, investors are reluctant to put money on a market that is experiencing losses. 

Economists warn of an economic downturn. Prices have skyrocketed. Unemployment is up as businesses move up to reduce <span>costs. The Fed considers lowering discount rates and reserve requirements to increase monetary circulation.</span>



8 0
3 years ago
Whats needed to do an investment​
vekshin1

Answer:

Bank account, ID and money

7 0
2 years ago
Other questions:
  • At the end of the year, assume the balance of Inventory is $109,225 and physical inventory on hand is $106,320. The adjusting jo
    5·1 answer
  • The reason why reinvested earnings have a cost equal to the required rate of return is because investors expect to earn on those
    7·1 answer
  • Canon began as a camera-making company but has since become a company that produces a wide range of office equipment in addition
    7·1 answer
  • Suppose Toyota built a new automobile plant in Mexico using Japanese management practices, Canadian capital, and Mexican labour.
    13·1 answer
  • Metal Shelf ​Company's standard cost for raw materials is $ 4.00 per pound and it is expected that each metal shelf uses two pou
    10·2 answers
  • In a financial sector, we use ______ to construct financial instruments such as derivatives.
    8·1 answer
  • The leading producer of cell phone backup batteries, Jumpstart, has achieved great success because they produce high-quality bat
    8·1 answer
  • Imagine you live in a society with progressive taxation. Your friend makes half of your salary and pays 20 percent in income tax
    7·2 answers
  • Which statement is true of an adjustable rate mortgage?
    8·1 answer
  • What would happen if I were to buy a truck for $50,000 and expense all of it during that period, rather than handle it the way t
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!