Новости

FFMS will interrogate top-managers suspected in market manipulations

Following Dmitry Medvedev’s order, the Federal Financial Markets Service (FFMS) is now asking the government for additional powers of authority. For example, the body wants to get back to lawmaking (as it was the case before the reform of financial regulation), to be able to receive complaints from companies’ employees as part of its struggle against insider information abuse and market manipulation, also to increase control over financial companies’ owners.

Uzbekistan named the most “corrupted” country in the world

“The Daily Beast” put Uzbekistan to the first place in its rating of 20 most “corrupted” counties of the world. “Corrupted” is taken in quotation marks for a reason as it is more than just simple corruption (bribery).

Foot-Dragging on IFRS Decision Could Strip SEC of Power

While the Securities and Exchange Commission continues to procrastinate on a decision about whether publicly traded U.S. companies must file financials using International Financial Reporting Standards, an international group has given the regulator a nudge.

Moody’s reviews sovereign ratings of 9 European countries

According to Moody’s, those nine countries have become more sensitive to financial and macroeconomic risks in consequence to the Eurozone crisis. The agency’s experts are worried by the Europe’s real ability to implement all the reforms needed to resolve the crisis.

Representatives of Accounting Standards Board of Japan, Financial Accounting Standards Board Hold Biannual Meeting

Representatives of the Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) met on February 6 and 7, 2012, in Norwalk, Connecticut. This meeting was the twelfth in a series of discussions between the FASB and the ASBJ.

Greece approves new anti-crisis measures, leaving the EU pleased

The European Union welcomed successful approval of new anti-crisis measures by the Greece’s parliament, implying that this needed to be done to receive a second tranche of financial support for 130 billion euro.

Private investors in Russia will be able to save problematic banks on their own

According to the main idea, they will be given a right to propose their own plans of financial rehabilitation to the Central Bank’s committee on banking regulation and supervision.

Bank regulators in Ukraine adopting a new standard

The National Bank of Ukraine decided to adopt a new standard to ensure that banks have enough funds to meet their obligations to creditors and deposit holders. Starting from the beginning of 2013 banks won’t possibly be able to have debts higher than 10 times of their regulatory capital.

Indian firms with GDRs get more time for IFRS switch

The European Commission (EC) has allowed Indian companies that have listed their global depository receipts (GDRs) on European exchanges time till December 2014 to adopt accounting rules known as international financial reporting standards (IFRS).

PCAOB Announces Settled Disciplinary Order for Audit Failures Against Ernst & Young and Four of its Partners

The Public Company Accounting Oversight Board today announced a settled disciplinary order censuring Ernst & Young LLP, imposing a $2 million civil money penalty against the firm, and sanctioning four of its current and former partners for violating PCAOB rules and standards.