Новости

European regulators to check bank ratings

The European Securities Market Authority (ESMA) has initiated investigation in respect to three largest credit rating agencies - Standard & Poor’s, Fitch, and Moody’s. The regulators are interested in the way they assign ratings to European banks, many of which have recently experienced downgrade of their credit ratings.

MICEX-RTS to trade with foreign currency until midnight

The Moscow Stock Exchange (MICEX-RTS) plans to prolong trading with foreign currency until midnight as certain large banks expressed their interest in that. However, the main banking regulator – the Bank of Russia – finds no interest in that innovation.

MICEX-RTS identifies most risky securities

RBC-Daily acquired a list of companies with heightened investment risk - potential members for the new sector which is now being created at the Moscow Stock Exchange (the other name for MICEX-RTS). Access to this segment may be made harder for investors.

Bank of England to review calculation of LIBOR

Head of the Bank of England Mervin King told that it was necessary to review the system of calculation of the LIBOR rate after it became clear that representatives of several large banks used to manipulate it. Prime-minister David Cameron assured that they were thoroughly examining all the details of the scandal around LIBOR to define how they should change the methodology of its calculation to prevent similar manipulations in the future.

FRC launches consultation on changes to its disciplinary Schemes

The Financial Reporting Council (FRC) today publishes a consultation document setting out the changes it proposes to its disciplinary Schemes.

IFAC opens debate on public interest: issues Policy Position Paper 5 “A Definition of the Public Interest”

A hallmark of the accountancy profession is its obligation to act in the public interest. But it is not always apparent what this means, and how accountants can determine whether they are meeting this expectation. IFAC, by developing this position paper, is seeking to advance its understanding of this important issue. The paper, which presents a practical definition of the public interest, was developed in the context of IFAC’s mission, to enable IFAC to assess the extent to which its actions and decisions are made in the public interest.

ESMA publishes IFRS enforcement report

The European Securities and Markets Authority (ESMA) has published to its website an “Activity Report on IFRS Enforcement in the European Economic Area in 2011”. In 2011, the Euro crisis was one of the major drivers of the various IFRS enforcement activities at EEA and Member State level.

Licensing to be possibly replaced by liability insurance in Russia

Several large insurance companies in Russia are proposing replacement of the licensing system with liability insurance of economic agents. This initiative should be used as a base for the new strategy of the insurance market’s development. At the same time, the finance ministry has a different point of view and mostly supports development of voluntary types of insurance.

“Foreign agents” in non-commercial entities: United Russia’s “response” to approval of the Magnitsky Act

The United Russia political party (which holds the State Duma’s majority) intends to introduce a new law to complicate working conditions for non-commercial entities which receive financing from abroad. Some media sources already called it an unofficial response to the recent approval of the Magnitsky Act by the US Congress.

FASB publishes proposal for disclosing liquidity and interest rate risk

The Financial Accounting Standards Board (FASB) today issued for public comment a proposed Accounting Standards Update (ASU) intended to improve financial reporting about certain risks inherent in financial instruments and how they contribute to the reporting organization’s broader risks. Stakeholders are asked to provide input by September 25, 2012.