Новости

US government was secretly financing Goldman, Credit Suisse and LB

Almost three years after the crisis the Federal Reserve, being under media’s constant pressure, had to disclose details of its “classified” program of emergency short-term financing of the banking sector’s largest players.

KPMG graduates to take new ICAS tax training

The ICAS tax qualification will be taken either standalone or combined with the institute's existing CA qualification; it said the qualification had been developed "in consultation with tax practices" and is being supported by Tolley Tax Training.

Financial Reporting Council publishes its Annual Report for 2010/11

The Financial Reporting Council (FRC), the UK's independent regulator responsible for promoting high quality corporate governance and reporting to foster investment, today publishes its Annual Report for 2010/11.

Analysis: U.S.-China audit talks seen making only modest progress

U.S. and Chinese securities regulators may soon strike a deal that would allow the Americans some access to Chinese auditors, but it is likely to be more superficial than Washington wants.

Portugal’s rating downgraded to “garbage”

The international rating agency Moody's Investors Service has lowered its long term rating of Portugal’s sovereign bonds from Baa1 to Ba2. The forecast is “negative”.

Minfin of Russia significantly changes taxation policy: many types of activity freed from VAT

The finance ministry of Russia decided to stimulate financiers by introducing possible exemptions for application of VAT (value added tax) to many types of activities, among which are brokerage services, depository services, placement of financial securities and asset management

10% of European insurers are absolutely not ready for another crisis

Approximately 10% of insurance companies in Europe didn’t pass the stress-testing which was applied to find out whether they had enough capital to cope with another possible economic crisis. Those are the results of the research which was done by the European Insurance and Occupational Pensions Authority (EIOPA).

U.S. firms clash over accounting rules

Ford supports the move to International Financial Reporting Standards, or IFRS, saying the company would save money by simplifying and standardizing its accounting across all 138 countries where Ford operates.

Micro entities in Russia will work under new rules

Micro entities working in Russia will first have to be registered. On 8 July the finance ministry of Russia will issue very first certificates of registration to those micro entities which were the first ones to apply for registration.

Dark pools for MICEX

Moscow Interbank Currency Exchange is purposefully creating a “dark pool” for those market participants which don’t want to place large bids on general terms. The new “dark pooling” regime is specially for large bids - 5 million roubles and above. MICEX wants to fight for traders on the OTC market, volume of which is larger than the one of the stock exchange market. Voting is scheduled for the next meeting of the financial market committee.