Новости

The Bank of Russia suspends anti-crisis programs

The Central Bank of the Russian Federation informally confirms its “victory” over the crisis. It also boasts of getting rid of currency speculations.

The international financial center in Moscow will need a separate financial court

At the banking conference in Sochi the Ministry’s for Economic Development representative Anna Popova informed that a new section would soon be added to the Arbitration Procedure Code to introduce a separate financial court into practice.

Russian business gets more protection against tax services

Tax deferments will become an easier task in Russia as the Ministry for Economic Development has prepared its draft order to define formal methodology for analysis of companies’ financial position by tax services.

SEC Issues Report Cautioning Credit Rating Agencies

The Securities and Exchange Commission issued a report cautioning credit rating agencies about deceptive ratings conduct and the importance of sufficient internal controls over the policies, procedures, and methodologies the firms use to determine credit ratings.

Volcker voices concerns about US fair-value proposal

US President Barack Obama’s chief economic adviser Paul Volcker has expressed fears the American fair-value proposal may be heading in the wrong direction, in an interview with Forbes.com last month.

Tweedie “not terribly sympathetic” to concerns of standard-overload

The head of the international accounting rule maker said he has little sympathy for complaints on the surge of draft accounting standards being rolled out to meet the June 2011 convergence deadline.

FASB Issues Proposed Accounting Standards Update to Improve Disclosure about Entities Participating in Multiemployer Plans

The Financial Accounting Standards Board (FASB) has issued an Exposure Draft of a proposed Accounting Standards Update (Update) intended to increase transparency in financial reporting about entities that participate in multiemployer pension and other postretirement benefit plans.

Minfin prepared tax preferences for innovative companies

The Ministry of Finance of the Russian Federation prepared amendments to the Internal Revenue Code to provide more favorable conditions for companies engaged into innovative business operations.

Russian and foreign credit ratings will be unified

Large business in Russia and the Association of Regional Banks want to compare Russian companies’ credit ratings issued by different credit rating agencies.

Financial Planners Push to Extend Fiduciary Standard

The Financial Planning Coalition has asked the Securities and Exchange Commission to extend the fiduciary standard of care to broker-dealers and other financial professionals who provide personalized investment advice to retail customers.