Новости

Banks in Russia will be punished three times for money laundering

Starting from 24 January 2011 all Russian banks without exception will face much more severe rules for control over money laundering practices. They will have to check out real owners of their client companies, and for each and every violation, they will be punished by three different regulators – the Federal Financial Market Service (FFMS), the Federal Service for Financial Monitoring (aka “Rosfinmonitoring”), and the Central Bank.

IFAC Addresses the Concept of the Public Interest

In order to consider and address issues in the accountancy profession on a consistent and clearly articulated basis, IFAC has developed a principles-based framework of the public interest, which can be applied to standard-setting, governance processes, policy analysis, and regulatory issues.

FASB Exposure Draft Seeks Input on Transfers and Servicing (Topic 860)

The Financial Accounting Standards Board (FASB) issued an Exposure Draft (ED) today to solicit input from stakeholders on its proposal to improve the accounting for repurchase agreements (repos) and other agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity.

Trustees seek public comment on the future strategy of the IFRS Foundation

The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), today published a first-stage consultation document designed to solicit input on the strategy of the IFRS Foundation as it enters its second decade. The Trustees initiated this review as a result of the second Constitution Review that was completed earlier this year.

Even tighter rules for information disclosure faced by banks in Russia

The Bank of Russia further tightens its requirements for information disclosure where it concerns beneficiary owners of banks which work with private deposits. In 2011, an illustrative graphical scheme to disclose all final owners and their relations will be required for publication at banks’ websites.

Federal Reserve decides on further support for the US economy

Today the Federal Reserve is expected to make a decision on new steps to stimulate the economy. It looks like the regulator won’t do anything serious apart from purchasing federal and mortgage bonds for the value of 500 billion USD. Experts aren’t sure this will be enough for the economy’s support.

Ukraine’s ministers want shorter bankruptcies

Ukraine’s prime-minister Nikolai Azarov informed that the Cabinet of Ministers would make companies’ bankruptcies a shorter procedure.

Canadian Securities Regulators publish additional guidance on environmental disclosure

The Canadian Securities Administrators (CSA) today published CSA Staff Notice 51-333 “Environmental Reporting Guidance” for reporting issuers about meeting existing environmental disclosure requirements.

Fair-value accounting may be coming for real estate

U.S. rule-makers are mulling an expansion of fair-value accounting to land and buildings held for investment, a change that could reshape the balance sheets of hundreds of real estate companies.

Bankrupts will be checked tightly

The Ministry for Economic Development of Russia has published a new law project that provides owners’ liability for manipulation with financial accountancy or presentation of false accounts.