SEC and Citicorp: Hearings Before the Subcommittee on Oversight and Investigations of the Committee on Energy and Commerce, House of Representatives, Ninety-seventh Congress, Second Session, September 13 and 17, 1982
United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Oversight and Investigations
U.S. Government Printing Office, 1983 - Banks and banking - 833 pages
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action activities addition allegations amount appear approval audit authorities avoid bank believe branch capital Citibank Citicorp Commission Committee concern concluded conduct CONGRESS considered continue contracts corporate counsel countries currency deals deposits described DINGELL disclosure discussed Division documents DOHERTY dollars earnings Edwards effect enforcement European exchange trading fact foreign exchange France Frankfurt funds German going governments Head income initiating interest internal involved Italy laws limits liquidity loans London loss material matter maturity Milan million months Nassau Office operations opinion overnight Paris parking period position possible practice present problems procedures profits question rates reason record regarding regulations regulatory requirements reserve responsibility result risk Shearman short statement Sterling Swiss Switzerland trading transactions transfer Treasury United violation York Zurich
Page 82 - To the above named defendant : You are hereby summoned to answer the complaint in this action, and to serve a copy of your answer on the plaintiff's attorney within twenty days after the service of this summons...
Page 478 - ... (i) transactions are executed in accordance with management's general or specific authorization; (ii) transactions are recorded as necessary (I) to permit preparation of financial statements in conformity with generally accepted accounting principles or any other criteria applicable to such statements, and (II) to maintain accountability for assets...
Page 91 - ... that the same is true of his own knowledge, except as to matters therein stated to be alleged upon information and belief, and that as to those matters he believes it to be true.
Page 478 - ... (A) make and keep books, records, and accounts, which, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the issuer; and (B) devise and maintain a system of internal accounting controls sufficient to provide reasonable assurances...
Page 91 - Belief [Venue] , being duly sworn, deposes and says that he is the plaintiff in the within entitled action, that he has read the foregoing complaint and knows the contents thereof; and that the same is true of his own knowledge, except as to matters therein stated to be alleged on information and belief and as to those matters he believes it to be true.
Page 82 - You are hereby summoned to answer the complaint in- this action, and to serve a copy of your answer on the plaintiff's attorney within twenty days after the service of this summons, exclusive of the day of service ; and in case of your failure to appear or answer, judgment will be taken against you by default, for the relief demanded in the complaint.
Page 345 - A state has jurisdiction to enforce within its territory a rule of law validly prescribed by it. §30. Jurisdiction to Prescribe with Respect to Nationals ( 1 ) A state has jurisdiction to prescribe a rule of law (a) attaching legal consequences to conduct of a national of the state wherever the conduct occurs, or (b) as to the status of a national or as to an interest of a national, wherever the thing or other subject matter to which the interest relates is located.
Page 156 - Gains and losses from extinguishment of debt that are included in the determination of net income shall be aggregated and. if material, classified as an extraordinary item, net of related income tax effect. That conclusion shall apply whether an extinguishment is early or at scheduled maturity date or later. The conclusion does not apply, however, to gains or losses from cash purchases of debt made to satisfy current or future sinking-fund requirements. Those gains and losses shall be aggregated...
Page 281 - In determining the true taxable income of a controlled taxpayer, the district director is not restricted to the case of improper accounting, to the case of a fraudulent, colorable, or sham transaction, or to the case of a device designed to reduce or avoid tax by shifting or distorting income, deductions, credits, or allowances.