MAJOR FRAUD ACT OF 1988
A legislation passed during the Reagan administration that aims to modify and intensify previous fraud legislation. The changes in this legislation are the increased maximum penalties for fraud, $1 million for single account while $10 million for multiple accounts; extended protection for employees who aid the prosecution of fraud cases; and introduced mandatory annual reports of fraud investigations submitted by the attorney general.
Passing Major Fraud Act was said to be a reaction to the securities fraud cases in the late 1980s and 1990s.
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Retention Bonus
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Gauging Inflation
In the United States, the inflation rate was 0.2% through the 12 months ended July. In the United Kingdom, inflation was 0.1% in July.
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 05:00 | Credit Card Spending | Mar | |
| 14:30 | Industrial Product Price Index | Mar | |
| 14:30 | New Housing Price Index | Mar | |
| 14:30 | Raw Materials Price Index | Mar | |
| 16:00 | Consumer Confidence | Apr | |
| 02:30 | PMI Manufacturing | Apr | |
| 02:30 | Tertiary Industry Index | Apr | |
| 02:30 | PMI Composite | Apr | |
| 08:00 | Public Sector Net Borrowing | Mar |
