Новости

Banks in Russia await a bit softer anti-money laundering regulation

Remarkably more severe regulation which awaits commercial banks in Russia will be partially compensated by liberalization of the rules. The Bank of Russia proposed to decrease the number of banks’ obligations in respect to informing regulatory authorities on “suspicious” transactions, like the ones with real estate property, for example.

Accountants urged to look beyond financials

CEOs of accounting institutes from around the world met at the World Congress of Accountants in Malaysia, where they discussed the need for companies to report on non-financial results in areas such as social and environmental activities.

SEC approves new rules prohibiting market maker stub quotes

The Securities and Exchange Commission approved new rules proposed by the exchanges and FINRA to strengthen the minimum quoting standards for market makers and effectively prohibit “stub quotes” in the U.S. equity markets.

Global banks will be divided into two groups

International regulators will look after approximately 20 banks with international business. On that The Financial Times informed with a reference to people which had participated in preparations for the next G20 summit commencing tomorrow in Seoul.

Ukraine ready for another credit from IMF

The International Monetary Fund’s visiting team is staying in Kiev to analyze macroeconomic indicators and other criteria to check Ukraine’s readiness to receive the second tranche of a stand-by credit.

Russia’s Federation Council approves the law to cancel bank secrecy

The Federation Council of Russia has approved the law on the new order to exchange confidential information comprising commercial secrecy. The document contains amendments to the law “On banks and banking business” and “On foreign currency regulation and control”.

FRC defends accounting rules in lead-up to crisis

The UK’s corporate reporting regulator has defended international accounting rules blamed for destabilizing banks’ finances which exacerbated the financial crisis.

SEC to reward financial whistleblowers

The Securities and Exchange Commission voted unanimously to propose a whistleblower program to reward individuals who provide the agency with high-quality tips that lead to successful enforcement actions for financial fraud.

Russia neighbors Uganda and Uruguay in conditions of doing business - the World Bank

The World Bank has published its latest report “Doing Business” for 2011 which analyzes conditions for doing business in different countries of the world. As compared to 2009, Russia lost several positions (from 116th to 123rd) and is now a neighbor of Uganda and Uruguay.

European Commission wants to make CRAs more transparent

The European Commission asked for more transparency and tighter control rules for credit rating agencies (CRAs). In the report which was published 5 November European regulators asked agencies to inform federal authorities of EU member states on sovereign ratings in tree days before publication of those ratings (today governments have only 12 hours to point at possible mistakes).