Новости

Central Banks are triggering another crisis – A. Merkel

Angela Merkel, the German Chancellor has criticized the European Central Bank for planned purchasing of covered bonds, which in her opinion is an example of “non-conventional” monetary policy.

FFMS aggravates IPOs of Russian securities abroad

Soon it will be much harder for Russian companies to make initial public offerings on foreign stock exchanges. The Federal Financial Market Service is changing requirements.

Professional Oversight Board Report publishes Guidance on Transparency Reports by Auditors of Public Interest Entities

The Professional Oversight Board, an operating body of the Financial Reporting Council (FRC), has today published guidance material for those audit firms required to publish a statutory Transparency Report in 2009.

Crisis didn’t scare largest oil companies away from investing - Ernst & Young

According to the latest research by Ernst & Young’s experts, despite the recession (and expected decrease of oil prices in the future), largest oil corporations – leaders of the industry – still plan to make investments worthy 375 billion USD. Almost 70% of all proceeds will flow from Asian and South American oil companies – says the “Investing for the upturn” report which will be publicly launched at the NOC (National Oil Companies) Congress in Abu Dhabi. According to today’s estimations, by the year 2015 total investments by largest NOC will reach 600 billion USD.

Russian FFMS will provide better protection for investors

Chairman of the Federal Financial Markets Service (FFMS) Vladimir Milovidov announced yesterday that in a few days they were going to publish a set of amendments to the law “On financial securities markets” with an intention to provide better protection of investors’ interests.

FRC Publishes Exposure Draft updating Going Concern Guidance for Directors

The Financial Reporting Council (FRC), the UK’s independent regulator responsible for promoting confidence in corporate reporting and governance, has published an Exposure Draft of updated guidance for directors of UK companies to assist them with their assessment of going concern and in evaluating the nature and extent of disclosures.

GM gone bankrupt

A bit earlier today, GM’s dealer “Chevrolet-Saturn of Harlem Inc.” also applied to Chapter 11 of the U.S. law on bankruptcies as part of liquidation of the whole company.

CB loosens capital requirements for mortgage creditors

The Bank of Russia intends to lower the risk coefficient for mortgage credits which affects resulting value of a bank’s capital adequacy – from 100 to 70%. Experts clearly see a connection with further worsening of capital adequacy on the banking market and the regulator’s desire to refresh the mortgage market.

BAS publishes Exposure Drafts of Actuarial Standards on Data and Modeling

As part of its project to develop new actuarial standards, the Board for Actuarial Standards (BAS) has today published exposure drafts of standards on data and modeling.

FASB Issues Statement No. 165 “Subsequent Events”

The Financial Accounting Standards Board (FASB) today issued FASB Statement No. 165 “Subsequent Events”. This Statement is effective for interim and annual periods ending after June 15, 2009.