Новости

British regulators persuaded banks to lend more and to spend less on bonuses

For two months the British government was discussing the role of bankers in the society, and it was discussing this subject with bankers themselves. As a result, they all - Barclays, HSBC, Royal Bank of Scotland, and Lloyds, also a Spanish bank Banco Santander UK – agreed to provide 190 billion pounds in credits to local business in 2010. That’s 6% more than in 2009.

CB of Russia suspending support

Starting from February 10 the Central Bank of Russia stops issuing of bank credits secured on non-market assets or payment gurantees with a term to maturity of 91 to 180 days. The corresponding decision was made by the Central Bank’s committee on credit- and monetary policy.

It is time to bring audit closer to investor needs, FRC Chief Executive tells European Commission Conference

Action should be taken to close the expectations gap between what audit does and what users expect from financial statements, says Stephen Haddrill, chief executive of the Financial Reporting Council, in a speech to the European Commission conference on auditing in Brussels today.

New Actuarial Standard on Funeral Plans is Published

The FRC’s Board for Actuarial Standards (BAS) has today published its standard for actuarial work concerning Funeral Plan Trusts, building on the foundation laid by its standards on Reporting, Data and Modelling.

IFRS Foundation to establish Asia-Oceania liaison office in Tokyo

The IFRS Foundation, the oversight body of the London-based International Accounting Standards Board (IASB), today announced its intention to open an office in Tokyo for enhanced liaison in the Asia-Oceania region.

Rights of minority shareholders defined by the Supreme Arbitration Court

The Supreme Arbitration (Commercial) Court of Russia has prepared preliminary draft of its clarification concerning shareholder’s rights for information. The document was approved in December. In the nearest few days it will be signed and become official.

NYSE Euronext and Deutsche Börse announced their merger

NYSE Euronext and Deutsche Börse are going to create the world’s largest stock exchange together, on which financial securities for the value of $20 trillion (that’s 36% of all public companies’ capitalization) will be traded.

IASB must modernize, says incoming chief

The incoming head of the International Accounting Standards Board (IASB) has said that the standard setter needs to become more open and better represent the interests of all its country members.

BAS publishes Version 1.4 of TM1: Statutory Money Purchase Illustrations

Since 6 April 2003, there has been a requirement for members of certain money purchase pension arrangements to be provided with Statutory Money Purchase Illustrations (SMPIs). SMPIs are produced in accordance with “Technical Memorandum 1: Statutory Money Purchase Illustrations” (TM1), which is issued by the Board for Actuarial Standards (BAS) of the FRC. The BAS reviews TM1 regularly.

Fly-by-night companies set equal to criminal activity

The State Duma of Russia will soon discuss a law project on criminal liability for creation of fly-by-night companies. Maximum possible prison sentence for this case is 5 years.