Новости

Russian banks accepted the new CB’s recommendation on information disclosure with surprising enthusiasm

After a bit more than a month of the Russian Central Bank’s new recommendations in place, 60% of all banks are ready to follow them and disclose detailed information on their financial condition.

RTS fined for half a million

Russian Trade Systems will have to pay 500 thousand rubles for not informing regulators on its technical issues in due time. Chairman of the Federal Financial Market Service (FFMS) Vladimir Milovidov informed that fines had already been charged.

IFAC SMP Committee Releases Practice Management Guide

The Small and Medium Practices (SMP) Committee of the International Federation of Accountants (IFAC) today issued the “Guide to Practice Management for Small- and Medium-sized Practices”, which provides guidance on how this sector can better manage their practices and ultimately operate in a safe, profitable, and professional manner.

Decision in Free Enterprise Fund vs. PCAOB

The U.S. Supreme Court today issued its decision in the constitutional lawsuit challenging the PCAOB, affirming in part and reversing in part the judgment of the Court of Appeals in favor of the PCAOB.

NBU is going to liquidate banks a bit differently

The National Bank of Ukraine (NBU) has changed limit values of financial indicators (that is, normative standards), upon violation of which it is going to commence liquidation and revocation of a bank license. The new order came into force on 26 June.

Loss-making companies in Russia will still be able to trade as if they were cool

Similarly to the Central Bank which imposed a moratorium to exclude banks from the deposit insurance system, the Federal Financial Market Service (FFMS) is planning to allow stock exchanges to keep loss making companies within the “A”-class quotation list if those losses were incurred between 2008 and 2009.

G20 stands by international standards

The G20 group of countries has once again given its support for international accounting standards as it gathered for its latest meeting in Toronto at the weekend.

PCAOB fate decided by supreme court

A supreme court decision which could decide the constitutionality of the US audit regulator and trigger wide-ranging audit reform, is due to be handed down today.

Draft of new Actuarial Standard on Transformations is published

The FRC’s Board for Actuarial Standards (BAS) has today published its draft standard on pensions and insurance transformations in which the entitlements of scheme members and policyholders are changed.

G20 agreed upon principles of financial institutions’ bankruptcy

During his speech on the results of the G20 and G8 summits Russia’s President Dmitry Medvedev informed that they had managed to agree upon principles of financial institutions’ bankruptcy and mechanisms to protect taxpayers during that procedure.