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2024 Author Awards for International Tax Announced by Bloomberg Tax & Accounting

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ARLINGTON, Va., Nov. 5, 2024 /PRNewswire/ — Bloomberg Tax & Accounting announced today its 2024 Author Awards for International Tax, which were presented at the International Fiscal Association (IFA) Congress in Cape Town last week. Gary Sprague of Baker McKenzie received the Leonard L. Silverstein Award for Distinguished Service in International Tax. Irene Yong, Anand Raj, Arthur Kristoffersen, and Wim Panis were recognized with awards for outstanding authorship.

“Our authors provide essential expertise and actionable insights, enabling tax professionals worldwide to manage the evolving complexities of international tax laws and regulations,” said Lisa Fitzpatrick, president, Bloomberg Tax & Accounting. “We are excited to honor Gary, Irene, Anand, Arthur, and Wim for their exceptional contributions and thought leadership, which ensure our clients are well-informed about the latest trends and understand their implications on both businesses and individuals.”

Gary Sprague, this year’s recipient of the Leonard L. Silverstein Award, was recognized for his longstanding contributions to the field of international tax. The award is named in honor of Leonard L. Silverstein, the founder of the Tax Management Portfolios™ and a leading practitioner in the field of taxation for more than 60 years.

“I am grateful to Bloomberg Tax for the Leonard L. Silverstein Award,” said Sprague. “The enduring legacy and daily contributions of Bloomberg Tax and the Tax Management Portfolios significantly enhance our practice in international tax.”

Sprague is a partner with Baker McKenzie based in Palo Alto and an author for the Bloomberg Tax Portfolio Federal Taxation of Software and Digital Transactions. He has contributed to the development of international tax law for years through his legal practice, which focuses on international corporate tax planning and advice, tax controversies and tax issues affecting software, high technology and digital enterprise companies. Sprague was also recognized for his current roles as chair of the business representatives selected to participate in the OECD Technical Advisory Group on Tax Treaty Characterisation Issues Arising from E-Commerce and an adjunct professor teaching future generations of tax professionals at the UC College of Law—San Francisco.

Irene Yong and Anand Raj were recognized as International Tax Portfolio Authors of the Year for their work on the Business Operations in Malaysia Portfolio, which they have authored for more than ten years and have meticulously maintained, including most recently providing key insights for practitioners regarding the significant tax reforms Malaysia is undertaking to modernize its tax system. Yong and Raj are partners with Shearn Delamore & Co, where Young heads the firm’s tax advisory practice and Raj heads the firm’s tax dispute practice and co-heads the competition law & antitrust practice.

Arthur Kristoffersen received International Tax Portfolio Author of the Year award for his contributions to the Transfer Pricing Rules and Practice in Norway Portfolio, including extensive details on transfer pricing rules, practice, and procedural matters in Norway, providing in-depth analysis of legislative developments and practical examples and commentary. Kristoffersen is Head of Section, Transfer Pricing, Large Business in the Norwegian Tax Administration, where he is responsible for the Norwegian transfer pricing mutual agreement procedures and bilateral advance pricing agreements. 

Wim Panis was recognized as the International Tax Contributor of the Year Award for his years of dedication to updating and enhancing the Belgium chapter of the VAT Navigator. His extensive contributions include thorough and practical updates that provide customers with the information and analysis they need for planning and compliance. Panis is a partner in the Brussels office of Stibbe, a member of the editorial board of the leading tax journal Tijdschrift voor Fiscaal Recht, and a guest lecturer at Fiscale Hogeschool in Brussels.

About Bloomberg Tax & Accounting
Bloomberg Tax & Accounting provides practitioner-driven research and technology solutions that deliver timely, strategic insights to enable smarter decisions. From our unparalleled Tax Management Portfolios to technology designed to streamline the most complex planning and compliance scenarios, we deliver essential news and analysis, practical perspectives, and software that help tax and accounting professionals around the globe mitigate risk and maximize business results. For more information, visit Bloomberg Tax.

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SOURCE Bloomberg Tax & Accounting

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Cineverse Appoints Rey Puentenegra as Vice President, Corporate Controller

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LOS ANGELES, Nov. 5, 2024 /PRNewswire/ — Cineverse (NASDAQ: CNVS), an innovative streaming entertainment and technology company, today announced that it has hired Rey Puentenegra as Vice President, Corporate Controller. Leveraging over 20 years of combined experience across the Industry, Audit and Regulatory Sectors, Puentenegra will oversee all financial and accounting functions across Cineverse’s entire business. He will manage day-to-day operations of the accounting department while taking ownership of corporate accounting, regulatory and financial reporting, audit preparation, and the continual development of internal control policies and procedures. Puentenegra’s appointment is effective immediately, and he will report directly to Mark Lindsey, Chief Financial Officer of Cineverse.

For more than two decades, Puentenegra has been responsible for financial and accounting management, SEC reporting and technical accounting, IPO and SPAC consulting, and process systems implementation and optimization across public and private companies, Big 4 accounting firms, and the Public Company Accounting Oversight Board (PCAOB). Prior to joining Cineverse, Puentenegra served as Controller at YOUNGLA, a fitness and lifestyle apparel e-commerce company, where he oversaw the finance and accounting team as well as managed an outside accounting firm and the company’s primary banking relationship. He was responsible for developing and implementing the initial finance operations structure in addition to the company’s Enterprise Resource Planning. Throughout his career, Puentenegra has served in finance and accounting roles for KPMG, PricewaterhouseCoopers (PwC), Reading International, Global Eagle Entertainment, Corporate Finance Group, XOS, and Spatial Genomics. As Inspections Specialist at PCAOB, he inspected the audits of the Big 4 and mid-tier firms in both the U.S. and foreign jurisdictions.

In connection with his joining the Company, Puentenegra received stock appreciation rights (the “SARs”) for 85,000 shares of Cineverse’s Class A Common Stock (the “Common Stock”), having a ten-year term and an exercise price equal to $2.74, and vesting 1/3 on November 4 of each of 2025, 2026 and 2027. The grant of SARs is an inducement grant pursuant to NASDAQ listing Rule 5635(c)(4).

ABOUT CINEVERSE

On a mission to uplift storytellers and entertain fans with the power of technology, Cineverse  (NASDAQ: CNVS) distributes over 71,000 premium films, series, and podcasts. Engaging over 150 million unique monthly users, Cineverse delivers more than one billion minutes of curated content each month – connecting fans with stories that resonate.

With properties like the box office sensation, Terrifier 3, iconic horror destination, Bloody Disgusting, the Bob Ross Channel, women’s entertainment channel Dove, and a leading podcast network, Cineverse is the first stop for audiences seeking authentic and experiential content. From a vibrant lineup of titles and fandom channels, to next-gen advertising offerings and streaming solutions, Cineverse is setting the stage for a new era of entertainment.

Contacts:

For Media
The Lippin Group for Cineverse, cineverse@lippingroup.com

For Investors
Julie Milstead, investorrelations@cineverse.com

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SOURCE Cineverse Corp.

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Cboe Global Markets Reports Trading Volume for October 2024

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CHICAGO, Nov. 5, 2024 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), the world’s leading derivatives and securities exchange network, today reported October monthly trading volume statistics across its global business lines.

The data sheet “Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report” contains an overview of certain October trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.

Average Daily Trading Volume (ADV) by Month

Year-To-Date

Oct

2024

Oct

2023

%

Chg

Sep
 2024

%

Chg

Oct

2024

Oct

2023

Chg

Multiply-listed options (contracts, k)

10,793

11,230

-3.9 %

10,459

3.2 %

10,610

10,885

-2.5 %

Index options (contracts, k)

3,976

4,534

-12.3 %

4,130

-3.7 %

4,097

3,765

8.8 %

Futures (contracts, k)

187

292

-36.0 %

232

-19.6 %

243

227

6.7 %

U.S. Equities – On-Exchange (matched shares, mn)

1,289

1,376

-6.4 %

1,234

4.4 %

1,360

1,396

-2.6 %

U.S. Equities – Off-Exchange (matched shares, mn)1

77

81

-5.6 %

85

-9.1 %

78

81

-2.8 %

Canadian Equities (matched shares, k)

158,622

137,305

15.5 %

148,628

6.7 %

145,790

134,538

8.4 %

European Equities (€, mn)

10,534

9,277

13.6 %

10,121

4.1 %

9,681

9,498

1.9 %

Cboe Clear Europe Cleared Trades2 (k)

117,528

100,398

17.1 %

102,208

15.0 %

1,017,755

990,488

2.8 %

Cboe Clear Europe Net Settlements2 (k)

1,042

873

19.4 %

943

10.5 %

9,278

8,406

10.4 %

Australian Equities (AUD, mn)

777

719

8.0 %

891

-12.8 %

788

699

12.7 %

Japanese Equities (JPY, bn)

288

196

47.0 %

312

-7.5 %

315

174

80.5 %

Global FX ($, mn)

44,373

47,933

-7.4 %

48,096

-7.7 %

46,805

44,363

5.5 %

1 U.S. Equities – Off-Exchange ATS Block metrics restated to incorporate a tier of sell-side activity from July 2023 and forward, previously excluded from reporting.
2 Cboe Clear Europe figures are totals (not ADV) for the months and years-to-date. Asa of April 2023, data has been restated to reflect both On-Book and Off-Book cleared trades.

October 2024 Trading Volume Highlights

Cboe Europe

Cboe Europe Periodic Auctions reported a record average daily notional value (ADNV) of €2.5 billion, beating the previous record of €2.4 billion in September 2024.Cboe Clear Europe processed 117.5 million client trades in October, its highest monthly volumes in 2024. Additionally, it cleared its first trades on Deutsche Börse, introducing competitive clearing to the German market.

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE), the world’s leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.

 

Cboe Media Contacts

   Cboe Analyst Contact

Angela Tu 

Tim Cave

Kenneth Hill, CFA 

+1-646-856-8734 

+44 (0) 7593-506-719

+1-312-786-7559 

atu@cboe.com

tcave@cboe.com

khill@cboe.com

 

CBOE-V

Cboe®, Cboe Global Markets®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor’s®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor’s or Cboe and neither Standard & Poor’s nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.

Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.

Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.

There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/

Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. 

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SOURCE Cboe Global Markets, Inc.

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Patrick Industries to Participate in Upcoming Baird Conference

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ELKHART, Ind., Nov. 5, 2024 /PRNewswire/ — Patrick Industries, Inc. (NASDAQ: PATK) (“Patrick” or the “Company”), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will participate in Baird’s 2024 Global Industrial Conference on November 12, 2024.

Andy Nemeth, Chief Executive Officer, and Kip Ellis, President – Powersports, Technology and Housing, will participate in a fireside chat as well as engage in one-on-one meetings with institutional investors and analysts. The conference will be held at the Ritz-Carlton in Chicago.

Please contact Baird for attendance information and additional details. 

About Patrick Industries, Inc. 
Patrick (NASDAQ: PATK) is a leading component solutions provider serving the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next-level recreation experiences. Our customer-focused approach brings together design, manufacturing, distribution, and transportation in a full solutions model that defines us as a trusted partner. Patrick is home to more than 85 leading brands, all united by a commitment to quality, customer service, and innovation. Headquartered in Elkhart, IN, Patrick employs approximately 10,000 skilled team members throughout the United States. For more information on Patrick, our brands, and products, please visit www.patrickind.com

Forward-Looking Statements  
This press release contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any projections of financial performance or statements concerning expectations as to future developments should not be construed in any manner as a guarantee that such results or developments will, in fact, occur. There can be no assurance that any forward-looking statement will be realized or that actual results will not be significantly different from that set forth in such forward-looking statement. Information about certain risks that could affect our business and cause actual results to differ from those expressed or implied in the forward-looking statements are contained in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company’s Forms 10-Q for subsequent quarterly periods, which are filed with the Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov. Each forward-looking statement speaks only as of the date of this press release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made. 

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SOURCE Patrick Industries, Inc.

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