Новости

Ukraine’s financial regulators are ready to fight with market manipulations on their own

The National Securities and Stock Market Commission is trying on new methods to fight with manipulators on financial markets. The NSSMC has approved a new concept which will allow the regulator to discover facts of manipulations instead of stock exchanges or investors whose right were violated.

New law on transfer pricing coming into effect in Ukraine

A new law on transfer pricing, amending certain clauses of the Tax Code, was published this week which means that it is coming into effect on 1 September 2013. Certain articles of the law (№2 and 3) are already in effect since yesterday.

MASB extends transitional period for Transitioning Entities

The Malaysian Accounting Standards Board (the Board) has decided to allow agriculture and real estate companies, including its parents, significant investors and venturers (Transitioning Entities) to defer the adoption of the MFRS Framework for an additional year. This deferment takes into account the latest status of the IASB’s work plan on the two transitional issues that have yet to be resolved. Transitioning Entities continue to have the option to either apply the MFRS Framework or the FRS Framework for annual periods beginning on or after 1 January 2014.

Companies may rearrange leases to keep off balance-sheet

New accounting rules requiring all leases with terms of over 12 months to be brought onto the balance sheet could result in companies changing the way lease deals are structured to keep them off their books, rating agency Fitch has warned.

Bank of America suspected in manipulations with mortgage securities

On Tuesday US government authorities accused the Bank of America in fraud with mortgage securities during the financial crisis of 2008, arguing that the bank had deceived investors by selling them mortgage bonds for total value of $850 million and knowingly understating their risks.

Swiss UBS to pay $50 million for violating securities legislation

The largest bank of Switzerland, UBS, is again in the center of a loud scandal: the bank will pay almost $50 million for providing investors with knowingly false information on transactions with credit default swaps.

FASB to propose relief for private companies from VIE requirements

FASB moved closer Wednesday to providing relief for private companies from variable-interest entity (VIE) consolidation requirements for common control leasing arrangements, which are considered costly and irrelevant by many small business owners.

Definition of a public business entity: an amendment to the Master Glossary

The Board has received inquiries from stakeholders about which entities will be within the scope of the draft Private Company Decision-Making Framework: A Guide for Evaluating Financial Accounting and Reporting for Private Companies (guide) once it is finalized and about the inconsistency and complexity of having multiple definitions of a nonpublic entity and public entity within U.S. generally accepted accounting principles (GAAP). Specifically, stakeholders asked that the Board clarify which nonpublic entities potentially would qualify for alternative accounting and reporting guidance.

FAS wants more powers to protect competition

The Federal Antimonopoly Service is once again trying to push amendments to the law on protection of competition through the government. Those amendments are unofficially referred to as the “fourth antimonopoly package”.

Minfin raises “taxes” on excessively high interests on deposits

The Ministry of Finance is further struggling against reckless credit institutions which propose very high rates on deposits to attract funds and increase their liquidity no matter what.