Новости

Banks in Russia may be given a right to close suspicious accounts

Konstantin Shipunov, a deputy of the “United Russia” political party, proposed to allow Russian banks to close banking accounts and deny further provision of services upon suspicion that that counteragent’s account is being used for money laundering. No court’s decision will be needed.

Trade to be controlled by FAS

Yesterday Russia’s government approved the latest version of the law project on trade, which in two days will be introduced to the State Duma for consideration and approval. It appears that the Federal Antimonopoly Service is taking position of the main regulator here.

Treasury Proposes New Law for Investment Advisors

The Obama administration has proposed legislation to Congress that would establish consistent standards for anybody who provides investment advice.

USA assists troubled banks with getting rid of toxic assets

The Federal Deposit Insurance Corporation (FDIC) published an announcement on its website, informing that it had commenced realization of Timothy Geithner’s plan - the Public-Private Investment Program (“PPIP”).

Russia will simplify job placement for foreign financial specialists

Even so, Russian market participants do not think that one should worry about non-controlled inflow of foreign specialists here because there won’t be too many of those who wish to provide their services in Russia.

IASB publishes IFRS for SMEs

The International Accounting Standards Board (IASB) issued today an International Financial Reporting Standard (IFRS) designed for use by small and medium-sized entities (SMEs), which are estimated to represent more than 95 per cent of all companies. The standard is a result of a five-year development process with extensive consultation of SMEs worldwide.

FASB Initiates “Disclosure Framework” Project Aimed at More Useful, Organized, and Consistent Disclosures

Robert H. Herz, chairman of the Financial Accounting Standards Board (FASB), today announced the addition of a new FASB agenda project aimed at establishing an overarching framework intended to make financial statement disclosures more effective, coordinated, and less redundant.

British finance minister announced top-priority tasks in respect to taxation treaties

British finance minister Stephen Timms published a list of top-priority questions to be discussed for the next year (until March 31 2010). In his announcement on July 1st he explained that British government intended to accelerate new tax conventions with almost 20 on-shore and offshore jurisdictions, including Australia, Austria, Belgium, Visgin Islands, Cayman Islands, Croatia, Ethiopia, Germany, Hungary, Israel, Luxemburg, New Zealand, Oman, Qatar, Spain, Sweden and Thailand.

Eight Russian companies made it to Fortune top-500

The USA’s “Fortune” published its rating of the world’s top 500 corporations for the year 2009, with 8 Russian companies within the list – most of them are representatives of oil and gas industry.

Accounting for sustainability earns global accountancy backing

Prince Charles’ Accounting for Sustainability Forum has announced that 16 accountancy bodies across the world have agreed on a set of five sustainability principles. This is the first time that a global group of accountancy institutes has set a guideline of this kind with the principles promoting “connected reporting”.