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Zurich, SwitzerlandCredit: Susanna RustSwiss medical fund board members acquitted In an unrelated court ruling, six members of the investment board of a small Swiss pension fund were acquitted of misappropriation.ACSMS – the pension fund for medical and social services in the Sarine district in the canton of Fribourg – had to the liquidated in 2015 after it suffered major losses on an investment.In 2009 it awarded a CHF45m mandate – 80% of its assets at the time – to a single fund manager that proceeded to invest in risky foreign investments.The commercial court of the canton of Fribourg has now ruled that the members of the investment committee could not have known that the investment decision might have been fraudulent.An ACSMS director, who proposed the investment, is still facing legal proceedings for alleged fraudulent actions. One of Switzerland’s largest pension funds has won a legal battle to reclaim commissions from one of its asset managers.The CHF33bn (€28.1bn) BVK, the Pensionskasse for the canton of Zurich, will receive CHF20m of cash not forwarded to the pension fund by the unnamed asset manager.The court ruled that the manager must pay CHF12.5m in commissions it had received for selling shares, plus CHF7.5m in default interest.In a press release BVK said the money would be added to the members’ assets. It added that the legal fight before the commercial court for the canton of Zurich had been “protracted and time consuming”. Debates on commission fees started to gain real momentum in Switzerland after a federal court (Bundesgericht) ruling in 2012 .This ruling decided that all banks or independent asset managers receiving commission fees for selling fund products to Pensionskassen and other client types must pass these fees on to the entity making the actual investment in the fund.At the time, a report from Reuters claimed Swiss asset managers had gained as much as CHF7bn from such commissions, known as ‘retrocessions’.Two years later, some Swiss Pensionskassen mulled taking legal action against asset managers and banks refusing to pay back these commissions.However, until June 2017 it had been unclear how far back claims could be asserted. The Bundesgericht then clarified a 10-year period of limitation.Since the first verdict, several media outlets had reported agreements between banks and financial service providers but rarely revealed names or sums involved.The BVK is the first Pensionskasse to openly report about its legal battle and the sum it won for its members.
Loading… Several Bundesliga players are being tested daily and receiving same day results after coronavirus cases were discovered in their squad. Cologne have ramped up their player checks following the three positive tests revealed on Friday, a development that will alert the Premier League as they monitor how Germany are attempting to resume football amid the coronavirus pandemic. Cologne have announced that three members of their staff have tested positive for Covid-19 The trio of players were put in a 14-day quarantine though training was able to continue. The remaining members of the training group the infected players were part of are currently being checked every 24 hours. Testing every three days remains in place for the rest of the squad. None of the players in the affected group have returned positive results since Friday along with the rest of Markus Gisdol’s squad, who were working in groups of eight or nine. But the news casts fresh doubts over hopes that the Bundesliga will restart later this month German clubs have been back in training since last month with restrictions ahead of a planned return to full training this week and then games this month. May 16 and May 23 are the two resumption dates under consideration. Though those comeback hopes may be hit by confirmation yesterday from the DFL, organisers of the Bundesliga and Bundesliga 2, that a further 10 positive cases have been discovered from a total of 1724 carried out on players and staff from cubs in the two divisions. A second wave of tests will now take place this week. Cologne, 10th in the Bundesliga, have been able to fast-track results of those in the daily testing group by effectively pushing players’ to the front of the queue to get their tests checked at a laboratory in the city. Clubs across the Bundesliga will be able to replicate a similar process at their local labs should they need to though whether footballers should be given that privilege has split opinion in Germany. Jordan Torunarigha from Hertha BSC is seen taking a coronavirus test while at his club Read Also: Ronaldo enters 14-day quarantine after returning to Juventus That will form a central part of the discussions when Chancellor Angela Merkel and the 16 regional state premiers meet on Wednesday to discuss Germany’s lockdown measures. The outcome of the talks, which football authorities here will be keeping a close eye on with Germany ahead of England in the process, will be decisive in whether football is given the go-ahead to return or not. FacebookTwitterWhatsAppEmail分享 Promoted ContentThe Funniest Prankster Grandma And Her GrandsonCouples Who Celebrated Their Union In A Unique, Unforgettable WayTop 7 Best Car Manufacturers Of All Time9 Facts You Should Know Before Getting A TattooUse Your Zodiac Signs To Find A Perfect JobThe Biggest Cities In The World So FarTop 10 TV Friends Who Used To Be Enemies7 Universities In The World Where Education Costs Too MuchWho Is The Most Powerful Woman On Earth?Which Country Is The Most Romantic In The World?Birds Enjoy Living In A Gallery Space Created For ThemA Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This Day
Facebook Twitter Google+ Published on February 18, 2017 at 5:06 pm Contact Josh: [email protected] | @Schafer_44 Syracuse (6-3) split its final two games of the weekend on Saturday in Boca Roton, Florida. With a loss to Tulsa (3-5), followed by a win over Toledo (1-7), the Orange finished 3-1 on the road trip. In Game 1, Baylee Douglas started in the circle for the Orange. She pitched two and two-third innings, allowing two runs while striking out four. Junior right-hander AnnaMarie Gatti came in relief and pitched four and two-thirds innings allowing one run on four hits.Syracuse tallied eight hits, but mustered only two runs. Bryce Holmgren led off the final frame with a solo shot to center field to cap off a perfect 4-for-4 performance at the plate. The lone run in the seventh inning was not enough for Syracuse in the 3-2 loss. In game 2, Syracuse posted its third shutout of the year, a 5-0 victory. Sydney O’Hara recorded the win for the Orange with seven strikeouts in three innings.The Orange tallied seven hits, leading to five runs. O’Hara led the charge offensively as well. Her RBI triple to open the scoring in the first inning proved to be enough for the Orange in the victory. AdvertisementThis is placeholder textSyracuse travels to Orlando, Florida, to play Florida next weekend. Comments
Facebook Twitter Google+ Syracuse track stayed in New York this weekend, travelling to Ithaca for the Marc Deneault Invitational. This is the final meet before next weekend’s Atlantic Coast Conference Championships.The women’s team continued its strong showings in the 60-meters dash as freshmen Aja Davis (7.50 seconds) and Dennisha Page (7.52) finished third and fourth respectively.Dasia Pressley finished first in the 300-meters as the only sub-40 second finisher at 39.45 seconds. Her time is a new personal best, beating out her previous fastest time of 41.94 seconds.Pressley wasn’t the only women’s runner who finished in first place, as four other runners also won their finals. Shaleah Colaire (1:21.59) got top spot in the 500-meters and 60-meter hurdles and Bearett Tarris (1:42.45) won the 600-meters. The distance runners also secured some wins for the Orange, with Kelsey Potts (5:14.56) and Abigail Walsh (5:15.54) finishing first and third, respectively. In the 3,000-meters, Kate Kemnitz (10:33.41), Emma Wilson (10:38.60) and Maggie Toczko (10:50.88) crossed the line in first, second and fourth, respectively. AdvertisementThis is placeholder textThe men’s team also found success in a handful of races. Austin Rucker (1:08.24) finished first in the 500-meters, a full second before his competitors. In the 3000-meters, Silas Derfel secured top spot five seconds before the other runners with a time of 8:41.13. The 60-meter hurdles featured four Orange runners in the top six. Tyler Garland (8.00) won the event and was followed by Jamil Adams (8.08) in third, Naseem Smith (8.35) in fifth and Andrew Aguilera (8.40) in sixth.After multiple first-place finishes the Orange head off to Indiana for next week’s ACC Championships. Comments Published on February 23, 2020 at 1:39 pm Contact Gaurav: [email protected]
Tommy Toomey’s side went down 1-21 to 0-10 against Cork in the provincial semi-final, which was played today at Semple Stadium.The Rebels led 1-11 to 0-6 at the break.Cork will play Kerry, who defeated Limerick 2-16 to 1-16 in the other semi-final, in the decider.
Rugby Cranes celebrate a try during the Namibia game in Kampala. Photo via @WorldRugbyUganda is the biggest climber in the latest World Rugby rankings, leaping eight places after scooping 1.91 points for that spectacular win in Zimbabwe.On Saturday the Rugby Cranes pulled off a shock win over Zimbabwe on their own turf, the their first loss at home in three years, and the first time they were losing to Uganda.That the Sables threw away an early lead to the visitors makes the accomplishment sweeter. The rampaging Cranes managed five tries past the Sables, matching the hosts pound-for-pound until they run away with the win.Tomorrow, Thursday, Rugby Cranes travel to Nairobi for an all-out-war duel on Saturday against their noisy neighbours at RFUEA grounds.Share on: WhatsApp