Новости

Nominated to head SEC, White expected to bring focus on enforcement

When Mary Schapiro announced in November that she was planning to step down as chairman of the Securities and Exchange Commission, many pundits expected that her replacement would offer an even greater focus on enforcement.

Joint effort needed to tackle disclosure problem

The International Accounting Standards Board (IASB) today released highlights of a survey conducted recently on financial information disclosures, ahead of its public discussion forum on Disclosures in Financial Reporting. Respondents to the survey identified various factors that contribute to the disclosure problem.

IPO of the Moscow Stock Exchange possible very soon

Sources on the financial market told RBC-Daily that the long-awaited initial public offering of the Moscow Stock Exchange may possibly commence at the end of January – the beginning of February.

Russia ready to lift all limitations on foreigners' participation in SMEs

Russian Ministry for Economic Development has introduced new legislative amendments to the government for consideration which should lift restrictions on foreign citizens' participation in capital of small and medium enterprises. Analogous limitations for foreign companies (not private individuals) will stay in effect for awhile.

Final FATCA regulations issued in fight against offshore tax evasion

The Treasury Department and Internal Revenue Service have issued final regulations for their global reporting demands under the controversial Foreign Account Tax Compliance Act (FATCA).

EFRAG's consultation on the transition from IAS 39 to IFRS 9 for macro-hedging practices

EFRAG has analysed the impact on current macro hedging practices of the transition between IAS 39 and the Review Draft and submits this analysis for public consultation.

Unstable insurers will have to pay

The Ministry of Finance of the Russian Federation has presented its draft “Strategy for development of insurance activity in Russia until 2020” to the government. According to the Minfin’s expectations, implementation of this strategy should bring insurance to 3.5% of GDP by 2020 (as compared to 1.2% of GDP in 2011). Total amount of insurance premiums may reach 3.65 trillion roubles (663.7 billion in 2011).

Ukraine developed a newer version of the tax for the wealthy

Ukraine’s government is again discussing the idea to adopt a new tax on wealth and luxury goods.

ESMA calls for improvements in disclosures related to goodwill impairment

The European Securities and Markets Authority (ESMA) has today published a review of 2011 IFRS financial statements related to impairment testing of goodwill - the value of intangible assets which has a quantifiable value - and other intangible assets. The review, which looked into the accounting practices of a sample of 235 European issuers from 23 countries, found ?800bn (?790bn in 2010) worth of goodwill balances in the 2011 financial statements of issuers, with 5% (c. ?40bn) of that amount recognized as impairment losses in 2011.

Upcoming SMEIG meeting to analyze possible changes to IFRS for SMEs

The IASB has published agenda papers for the upcoming meeting of the SME Implementation Group (SMEIG), which is to be held on 4-5 February 2013. The papers contain a summary of the responses received to the IASB's 'Request for Information: Comprehensive Review of the IFRS for SMEs' which was issued in June 2012, together with an analysis of those issues and the recommendations on how to progress proposed changes to the IFRS for SMEs.