Former Qwest Communications CEO Joe Nacchio was found guilty of illegally
selling $52m in stock at the business, creating an accounting
scandal that saw the company restate billions of dollars in revenue.
met a quarterly result target but did not reveal to the market this had been
achieved through one-off stock sales.
Former Qwest CFO Robin Szeliga is serving probation on one count of insider
trading that occurred at the same time as Nacchio’s sales.
Nacchio is expected to appeal, reported Associated Press.
Smaller businesses could be excluded from government plans for making business transactions digital, found new research from ICAEW
Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
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