Новости

First criminal case for market manipulations filed in Russia

The very first criminal case for price manipulations on the financial market was filed in Russia upon results of inspection of the Federal Financial Markets Service on the Moscow Stock Exchange.

Russia officially a member of the WTO

On 23 July the government of Russia informed the WTO Secretariat that it had finished all internal procedures needed, including ratification of the protocol on joining the Marrakesh agreement establishing the World Trade Organization. According to the rules, joining the WTO took place 30 days after that, which is August 22.

ISA coming to Russia?

The Ministry for Economic Development has published a draft law that deals with adoption of international standards on auditing (ISA) in Russia, by which they mean standards developed by the International Federation of Accountants.

PCAOB solicits nominations for Investor Advisory Group

The Public Company Accounting Oversight Board is soliciting nominations for members of its Investor Advisory Group for the 2012-2014 three-year term. The deadline for submissions is Sept. 4, 2012.

Standard Chartered settles conflicts with New York’s financial regulators for $340 million

The British bank Standard Chartered has recently found itself in a center of a loud scandal, being accused in money laundering and cooperation with Iran, one of the “rogue states”.

Privatization of Sberbank may be done by an easier way

The Ministry for Economic Development of Russia has proposed to simplify the procedure to decrease the government’s interest in Sberbank’s capital to lower than 50%. Today a new federal law would be needed for that - the one to amend the law “On the Central Bank” because the CB is the main shareholder.

ECB not ready yet to help the sovereign debt market

The European Central Bank has put an end to speculations around its possible support to problematic countries: the regulator is not planning to purchase federal bonds to prevent their yield growth.

Big Four audit domination probe deepens

The Competition Commission is seeking views and comments on its latest working papers as part of its investigation into the Big Four domination of the UK audit industry.

EC launches anti-VAT fraud mechanism

The “quick reaction mechanism” would enable countries to move more quickly to fight VAT fraudsters. The mechanism would be able to implement a reverse charge, where the recipient of goods is liable for VAT, rather than the supplier. It could be left in place for up to a year.

PCAOB issues report on the interim inspection program for broker and dealer auditors

The Public Company Accounting Oversight Board today released its first report on the progress of the interim inspection program for auditors of brokers and dealers, providing an overview of the new program and the audit deficiencies identified in the initial group of inspected audits of brokers and dealers.