Новости

The City watchdog is considering whether Britain can claim exemption from European laws that will introduce the toughest pay restrictions in the world

How best to reform the City of London remains unclear more than two years after the financial crisis began. Lawyers at the Financial Services Authority are exploring the possibility of claiming that the UK financial services sector is already adequately regulated by its own Code.

Trans-Tasman accounting standards one step closer

Australia and New Zealand are now one step closer to having a common set of financial reporting standards, as a result of the release of exposure drafts that will amend financial reporting standards in Australia and New Zealand.

Paul Krugman predicts the Third Depression

Paul Krugman, the Nobel laureate in economics and professor in Princeton University, warns against further consequences of the crisis: it may turn into a great economic depression which is a very rare issue.

Deloitte comment letter on financial instruments

Deloitte Touche Tohmatsu has submitted to the IASB our Letter of Comment on Exposure Draft 2009/12 “Financial Instruments: Amortized Cost and Impairment”. The ED, issued on 5 November 2009, proposes requirements for how to include credit loss expectations in the amortized cost measurement of financial assets.

UK public sector is vulnerable to fraud and economic crime - PwC

With the UK public sector recession now underway, PricewaterhouseCoopers LLP (PwC) is warning of the increased risk of fraud in the public sector as staff reductions and fears of redundancy increase the risk of fraud and economic crime.

US tax services want more

American tax regulators have launched investigation against clients of the HSBC bank who are suspected in hiding their accounts in India and Singapore from taxation. Experts think it is very unlikely the officials will be satisfied with UBS clients and will certainly look for tax dodgers around the world.

NBU asked the government for 10 billion UAH for the “bad” bank

The National Bank of Ukraine (NBU) proposed the government to spend 10 billion for creation of the “bad” (or, as it is commonly know here, the “sanation”) bank – that is, the bank to save other credit institutions in trouble.

Accounting rules "practically impossible to implement", Barclays claims

Proposed banking rules, born out of the crisis, will be “practically impossible to implement” and encourage “boilerplate” disclosures, according to Barclays. Barclays’ finance director Chris Lucas is the latest to voice opposition to the accounting rules, which may force banks to calculate and disclose the proportion of loans which will turn bad.

The APB issues Draft Revised Guidance on Attendance at Stocktaking

The Auditing Practices Board (APB) of the FRC has today issued for comment a consultation draft of a revision of Practice Note 25 “Attendance at stocktaking”. The consultation period ends on 5 October 2010.

British Petroleum looking for a “white knight” investor to purchase 5-10% of its shares

BP commenced searching for a strategic investor to help it escape hostile takeover in conditions like that, when its shares fell for more than 50%. The company proposes to purchase 5-10% of shares which are now worth $4.5-9 billion. Analysts named Exxon Mobil Corp. and Royal Dutch Shell among most probably buyers.