Latest news with #appeals
Fox News
7 days ago
- Politics
- Fox News
Senate votes to consider former Trump lawyer for lifetime as appeals court judge
The Senate narrowly voted to move forward with considering the nomination of former Trump lawyer Emil Bove to a federal court of appeals on Tuesday. The 50-48 vote saw one Republican break ranks and vote against his nomination, while Democrats have done everything in their power to slow down the nomination. Bove, who currently works at the Justice Department, is nominated to serve on the 3rd U.S. Circuit Court of Appeals. Democrats have argued that Bove, a former defense attorney for President Donald Trump, is unfit for the role, pointing to allegations that he proposed behind closed doors that the Trump administration could simply ignore judicial orders. Bove denies those allegations. Sen. Susan Collins, R-Maine, voted with Republicans to move forward but said in a statement that she will oppose Bove's confirmation on a final vote. Alaska Sen. Lisa Murkowski was the lone Republican to vote against moving forward with Bove's nomination. "We have to have judges who will adhere to the rule of law and the Constitution and do so regardless of what their personal views may be," Collins said in a statement. "Mr. Bove's political profile and some of the actions he has taken in his leadership roles at the Department of Justice cause me to conclude he would not serve as an impartial jurist." Democrats on the Senate Judiciary Committee stormed out of the meeting where the committee approved Bove last week. Sen. Cory Booker, D-N.J., attempted to push for more debate time, but Chairman Chuck Grassley, R-Iowa, pushed forward with the vote. "What are you afraid of?" Booker erupted, after Grassley tried to speak over him and hold the vote. "Debating this [nomination], putting things on the record — Dear God," he said, "that's what we are here for." "What are they saying to you," he said, referring to the Trump administration, "that is making you do something to violate the decorum, the decency and the respect of this committee to at least hear each other out?" Booker ended the sharp exchange with Grassley by saying simply, "This is wrong, sir, and I join with my colleagues in leaving," before streaming out of the committee room. It comes as Trump administration officials have taken aim at "activist" judges they argue are blocking the president's agenda and preventing him from enacting his sweeping policy goals, including the administration's crackdown on border security and immigration.
Telegraph
21-07-2025
- Business
- Telegraph
HMRC cancels record number of tax return penalties
HM Revenue and Customs (HMRC) cancelled a record 46,266 fines last year after penalising taxpayers who owed no tax. Taxpayers and businesses face an automatic fine if they miss the self-assessment or VAT deadline. However, they can appeal if they filed late through no fault of their own or if they have been mistakenly asked to complete a tax return. The number of penalties cancelled on appeal has surged 29pc year on year to 46,266, according to HMRC's latest annual accounts. HMRC said this was because it was now easier for businesses to appeal fines through their online accounts after the new penalty regime for VAT came into effect in January 2023 and had driven the surge in fines being overturned. However, Andrew Park, of Price Bailey, said banking delays, administrative failings by HMRC, and poor customer service were all factors that led to taxpayers filing late. The tax office did not pick up the phone to 35pc of callers in the first half of 2024-25, despite a target of answering at least 85pc of calls. However, figures show HMRC's customer service levels have improved since then, thanks to the deployment of extra customer service advisers. In addition, many fines may have been cancelled because the individual owed no tax. Mr Park said: 'Late filing penalties are disproportionately levied on people on low incomes, many of whom have no tax to pay.' It recently emerged that 600,000 penalties have been issued over the past five years to people earning less than the tax-free personal allowance. The think tank Tax Policy Associates, which obtained the data in a freedom of information request, has called on HMRC to scrap late penalties for those earning less than £12,570. HMRC has introduced a new points-based penalty system for taxpayers joining the Making Tax Digital programme. Under the system, there will no longer be an immediate £100 fine if the deadline is missed, and penalties will be capped at £200 per tax return. However, those with a lower income who are outside Making Tax Digital will continue to be assessed under the old regime. In total, the tax office issued nine million penalties, up from over eight million the year before. Missing the self-assessment deadline results in an automatic £100 penalty, with additional penalties rolling up over time. For businesses, failing to submit a VAT return on time results in a penalty point, with a £200 fine due once they reach their penalty threshold, set by their accounting period. Mr Park said many taxpayers might be unaware they could appeal a fine. 'When two-thirds of appealed penalties are overturned, yet only a small fraction of the nine million issued are challenged, it suggests a significant number of taxpayers may be paying penalties they could successfully contest.' HMRC asks those who no longer need to submit a tax return to inform them before the deadline on 31 January. Anyone who believes they have been incorrectly fined for filing late can appeal to HMRC within 30 days of the penalty notice being issued. A spokesman for HMRC said: 'Our penalty reforms enable customers to appeal easily and quickly online against both penalties and penalty points. Our new points-based system means only those who persistently miss deadlines will incur a financial penalty.'
Yahoo
17-07-2025
- Business
- Yahoo
HSBC executive's fraud conviction voided by US appeals court
By Jonathan Stempel NEW YORK (Reuters) -A U.S. appeals court on Thursday voided the 2017 fraud conviction of a former HSBC executive who spent two years in prison for "front-running" a British oil and gas exploration company's $3.5 billion currency trade. In a 3-0 decision, the 2nd U.S. Circuit Court of Appeals in Manhattan said Mark Johnson's conviction was tainted because the Supreme Court in an unrelated case later repudiated a fraud theory that underlay it. The appeals court also expressed "grave doubt" Johnson could have been convicted under an alternative theory that he defrauded HSBC client Cairn Energy, now known as Capricorn Energy. A spokesman for the U.S. attorney's office in Brooklyn declined to comment. "We are delighted that justice has finally been achieved for Mark Johnson," his lawyer Alexandra Shapiro said in a statement. "Mr. Johnson carried out the Cairn transaction consistent with industry practice and in violation of no law or rule." Johnson, a British father of six in his late 50s, had been the head of HSBC's global foreign exchange cash trading desk. He was the first banker tried in the United States on currency rigging charges, following global probes into the multitrillion-dollar per day currency market. According to prosecutors, Cairn had retained Johnson and another former HSBC executive in 2011 to convert $3.5 billion into British pounds sterling as it prepared to sell an Indian subsidiary. Prosecutors said the executives quietly bought pounds for HSBC's own accounts before completing Edinburgh-based Cairn's trade, reaping a profit of about $7 million, court papers show. A jury convicted Johnson of wire fraud and conspiracy after a four-week trial. The appeals court upheld the conviction in 2019. But on Thursday, the appeals court said a 2023 Supreme Court ruling, Ciminelli v U.S., meant Johnson could not be convicted of denying Cairn a right to control its assets by reneging on a promise not to ramp up the pound's price. Circuit Judge Guido Calabresi also said evidence that Johnson breached duties to Cairn by misappropriating its confidential information for his own benefit was "weak," and it was unlikely a jury would convict Johnson on that basis alone. "We find ourselves--at the very least--in 'virtual equipoise' as to whether any jury, presented only with the misappropriation theory, would convict Johnson," Calabresi wrote. "That is more than enough to leave us with grave doubt." The appeals court returned the case to U.S. District Judge Nicholas Garaufis, who oversaw the trial. The case is Johnson v. U.S., 2nd U.S. Circuit Court of Appeals, No. 24-1221. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
17-07-2025
- Business
- Reuters
HSBC executive's fraud conviction voided by US appeals court
NEW YORK, July 17 (Reuters) - A U.S. appeals court on Thursday voided the 2017 fraud conviction of a former HSBC (HSBA.L), opens new tab executive who spent two years in prison for "front-running" a British oil and gas exploration company's $3.5 billion currency trade. In a 3-0 decision, the 2nd U.S. Circuit Court of Appeals in Manhattan said Mark Johnson's conviction was tainted because the Supreme Court in an unrelated case later repudiated a fraud theory that underlay it. The appeals court also expressed "grave doubt" Johnson could have been convicted under an alternative theory that he defrauded HSBC client Cairn Energy, now known as Capricorn Energy (CNE.L), opens new tab. A spokesman for the U.S. attorney's office in Brooklyn declined to comment. "We are delighted that justice has finally been achieved for Mark Johnson," his lawyer Alexandra Shapiro said in a statement. "Mr. Johnson carried out the Cairn transaction consistent with industry practice and in violation of no law or rule." Johnson, a British father of six in his late 50s, had been the head of HSBC's global foreign exchange cash trading desk. He was the first banker tried in the United States on currency rigging charges, following global probes into the multitrillion-dollar per day currency market. According to prosecutors, Cairn had retained Johnson and another former HSBC executive in 2011 to convert $3.5 billion into British pounds sterling as it prepared to sell an Indian subsidiary. Prosecutors said the executives quietly bought pounds for HSBC's own accounts before completing Edinburgh-based Cairn's trade, reaping a profit of about $7 million, court papers show. A jury convicted Johnson of wire fraud and conspiracy after a four-week trial. The appeals court upheld the conviction in 2019. But on Thursday, the appeals court said a 2023 Supreme Court ruling, Ciminelli v U.S., meant Johnson could not be convicted of denying Cairn a right to control its assets by reneging on a promise not to ramp up the pound's price. Circuit Judge Guido Calabresi also said evidence that Johnson breached duties to Cairn by misappropriating its confidential information for his own benefit was "weak," and it was unlikely a jury would convict Johnson on that basis alone. "We find ourselves--at the very least--in 'virtual equipoise' as to whether any jury, presented only with the misappropriation theory, would convict Johnson," Calabresi wrote. "That is more than enough to leave us with grave doubt." The appeals court returned the case to U.S. District Judge Nicholas Garaufis, who oversaw the trial. The case is Johnson v. U.S., 2nd U.S. Circuit Court of Appeals, No. 24-1221.
Fast Company
16-07-2025
- Business
- Fast Company
4 tips to end unwanted subscriptions now that ‘Click-to-cancel' is over
A 'click-to-cancel' rule, which would have made it easier for consumers to end unwanted subscriptions, has been blocked by a federal appeals court days before it was set to go into effect. But there are ways to end those subscriptions and memberships, even if they take some work. The rule would also have required companies to disclose when free trials and promotional offers would end and let customers cancel recurring subscriptions as easily as they started them. But even without the new federal guidance, here are some ways to stay on top of subscription and membership fees. Use calendar reminders and regularly review your bills Experts at the Consumer Federation of America recommend setting calendar reminders for whenever a free trial period ends, to alert yourself to cancel promotional offers before the real recurring costs kick in. The auto-enrollment process, in which the company does not remind the consumer via email that a trial is about to end and higher monthly payments will begin, was also at the heart of the FTC's rule. 'No subscription business model should be structured to profit from a gauntlet-style cancellation process,' said Erin Witte, Director of Consumer Protection for the Consumer Federation of America, in a statement on the click-to-cancel rule. Regularly reviewing your credit card and debit card bills can also help you keep track of any recurring charges—including price increases you may have missed or that you didn't anticipate when trying out a new membership or subscription. Know the terms and conditions of a given subscription 'Companies make it easy for consumers to click to sign up and easy for the companies to automatically withdraw funds from consumers' accounts,' said Shennan Kavanagh, Director of Litigation at the National Consumer Law Center (NCLC) in a statement on the FTC's click-to-cancel rule. 'People should not (have to) spend months trying to cancel unwanted subscriptions.' Given the FTC's vacated rule, though, companies may still legally require that customers cancel memberships or subscriptions by phone, even as they permit signing up, enrolling, and paying bills online. Consumer advocates say this places an extra burden of time and energy on the consumer to stop an unwanted recurring fee, but sometimes knowing the terms of the subscription and getting on the phone is worth the trouble. There are some services that unenroll you Apps like Rocket Money and services like Trim, which is accessed through a browser, can keep track of your recurring monthly fees and subscriptions, for free—or for a fee—and can help you catch new ones or even unsubscribe from some services. For parents, especially, a service like Trim could help inform them that a child has started a new subscription, game or membership before the fees recur. And Rocket Money will actively work to end unwanted subscriptions for you, for a monthly price. If the company can't successfully end or cancel the subscription or membership, it will give the customer the information needed to do so. Trim also provides this service, in its premium form, for an additional fee. Resist deals when canceling The FTC is currently moving forward with preparations for a trial involving Amazon's Prime program, which accuses the retailer of enrolling consumers in its Prime program without their consent and making it difficult to cancel subscriptions. Often, when a consumer tries to cancel a subscription for something like Prime, which offers free delivery and streaming video, the company will offer a month or more of the subscription at a promotional rate—half off, or at other, better-seeming values, to entice a customer to stay. Staying strong in the face of what may appear to be a good deal can help you stop recurring monthly fees before you forget to cancel them again. Agreeing to yet another trial or promotional rate, which is another on-ramp to auto-enrollment, just continues the cycle, according to consumer advocates. What would the FTC's rule have done? The FTC's rule would have required businesses to obtain a customer's consent before charging for memberships, auto-renewals and programs linked to free trials. The businesses would have also had to disclose when free trials and promotional offers would end. The U.S. Court of Appeals for the Eighth Circuit said this week that the FTC made a procedural error by failing to come up with a preliminary regulatory analysis, which is required for rules whose annual impact on the U.S. economy is more than $100 million. The FTC said that it did not have to come up with a preliminary regulatory analysis because it initially determined that the rule's impact on the national economy would be less than $100 million. An administrative law judge decided that the economic impact would be more than the $100 million threshold, and the court decided to vacate the rule. Former President Joe Biden's administration had included the FTC's proposal as part of its 'Time is Money' initiative, which aimed to crack down on consumer-related hassles. The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
