Новости

FFMS to force market participants to disclose their real owners

The Federal Financial Markets Service (FFMS) of Russia plans to oblige professional market participants to disclose their real (that is, final) owners to public (in fact, they already do since last year, but only privately – to the regulator itself).

Employees of state-controlled corporations may be not allowed to engage into commercial activities

The Ministry for Economic Development has sent a letter to top-managers of state-controlled corporations which contains a set of amendments to the law “On commercial organizations” to be possibly discussed soon.

Taxman urges delay of UK GAAP replacement

The introduction of a new accounting code could clash with the rollout of a new computer filing system, leaving accountants snowed under and struggling, tax authorities have warned.

Banks told to comply on bonuses or loose UK banking licenses in shock FSA ultimatum

In an extraordinary ultimatum that has shocked some of the City’s biggest companies, the Financial Services Authority (FSA) told bank bosses that 60pc of all pay must be deferred, with no exceptions, even for those whose contracts conflicting with the edict.

Russia faces troubles with electronic accountancy

Starting from next Monday (February 6, 2010) professional market participants in Russia will be obliged to present their financial accountancy directly to their regulator – the Federal Financial Markets Service (FFMS). There is a fine provided for untimely presentation – half a million rubles and more. However, it appears that the system is not working yet.

“Rosneft” publishes its audited financial accountancy for 2009

On 1 February, 2010 Russian oil company “Rosneft” became the first one among the world’s largest oil and gas companies to publish consolidated financial accountancy under US GAAP for the year 2009.

FSA and SEC to expand supervisory cooperation

The FSA and the US Securities and Exchange Commission have agreed to expand their supervisory cooperation and review the existing memorandum of understanding between the two regulators.

Davos-2010: no results as expected

Davos-2010 turned into a public punishment of the whole banking society. During all previous meetings in Davos, probably only terrorists used to receive such treatment as bankers today. And to make things look uglier, no clearly specified solutions to change financial regulation and further evade negative consequences of the financial crisis were found.

Selling banking secrets to the government becomes a new trend

The proposal made by 37-years old IT-specialist Herve Falciani (former employee of Geneva-based HSBC) to sell some information on German citizens who hide their capital in Switzerland to Germany’s government yielded serious political distress. Representatives of the largest political parties are actively discussing whether the government is morally entitled to purchase stolen information, even if it concerns the ones engaged into financial fraud and tax evasion practices. Anyway, there’s a high probability that Berlin is going to accept the scandalous proposal.

Public Consultation on the Designation of the International Financial Reporting Standards for their Voluntary Application in Japan

The Financial Services Agency (FSA) made available today an English translation of the draft of revised Regulatory Notices, etc. which intended to update the list of designated IFRSs for the voluntary application of IFRSs in Japan, in order to facilitate the public consultation process on this issue started on January 20, 2010.