Former SAC Capital trader Mathew Martoma was found guilty of all insider trading charges. Reuters said Martoma's verdict is the eight of the insider trading convictions US authorities secured from a former or current employee of the hedge fund run by billionaire Steven A. Cohen.
The Public Company Accounting Oversight Board (PCAOB) said in hindsight at a recent budgetary meeting that the board and Chinese regulators are close to securing an agreement wherein US inspectors will be reviewing audits made by the Chinese accounting firms, including the local units of PricewaterhouseCoopers, KPMG, Deloitte and Ernst & Young.
The US Food and Drug Administration is currently in the process of drafting a proposed legislation to regulate e-cigarettes, the popular alternative to tobacco and nicotine patch.
A Businessweek report said federal and state legislators are having difficulty on addressing accounting concerns of businesses dealing legal marijuana. Four US senators recently submitted a proposal for the state to create a dedicated bank that will accept transactions of legal marijuana businesses.
