This includes the reporting of related-party transactions
, the creation of a new risk bureau and expanded examination powers for the central bank."
At the same time that Top Ships was engaging in these transactions, defendants failed to disclose the true purpose of the transactions and related stock issuances and reverses to finance related-party transactions
and acquisitions that primarily benefited Pistiolis and his related companies, and otherwise funnel money to Company insiders.
In particular, we note that the proposed transaction agreement includes a "majority of the minority" vote requirement, which we believe serves an important role in protecting the interests of minority shareholders in related-party transactions
Authorities had reported breaches at the firm, such as the failure to report related-party transactions
, untimely disclosures and a compensation system that did not meet regulatory requirements.
disregarded entity to apply for a federal employer identification number and retain permanent records regarding related-party transactions
If the intent is to protect the minority shareholders, this is adequately addressed in Recommendation 2.7, which provides for adopting a policy and system governing related-party transactions
, and in Recommendation 3.5, which requires establishing a related-party transactions
The notion that related-party transactions
require heightened scrutiny has a long history.
The Public Company Accounting Oversight Board (PCAOB) adopted a new auditing standard and amendments requiring auditors to pay close attention to related-party transactions
and significant unusual transactions, as well as a company's financial relationships and transactions with its executive officers when under-taking audits.
* The complexity and risks associated with recognition and disclosure of related-party transactions
Affiliates of the Evangelical Council for Financial Accountability (ECFA) have one year to comply with a new standard for setting compensation and addressing related-party transactions
Despite this, the IRS found that the IRC Section 36(c) (5) exception that excludes related-party transactions
incorporated the IRC Section 267(b)(6) exclusion for transactions between a fiduciary and a beneficiary of the same trust.
It also takes into account the firm's related-party transactions
, accompanied by the inherent risk related to the construction market niche, the agency noted.