Новости

Kudrin may be put in charge of supervision over the Moscow Stock Exchange

Russia’s former minister of finance Alexei Kudrin may take another very important position and become head of the supervisory board of the Moscow Stock Exchange – informs RIA Novosti. It is said that the Bank of Russia addressed the ex-minister with such proposal. If he agrees, he may take the position in February 2014.

SEC acquires Longtop documentation

The Securities and Exchange Commission informed that it had received “a substantial volume of documents” from Chinese financial regulators, the China Securities Regulatory Commission.

Central Bank will be in charge of accreditation of foreign bank’s branches in Russia

Today the Federation Council approved a new government law on accreditation of foreign banks’ branches on the territory of Russia: the Bank of Russia (the Central Bank) will be put in charge of that procedure.

FAF to donate 3 million dollars to IFRS Foundation this year

The Financial Accounting Fund informed yesterday that this year the amount of contribution to the IFRS Foundation would be 3 million dollars. We remind that the Financial Accounting Fund is a supervisory body to the FASB while the latter still has several very important convergence projects in process with the IASB.

ESMA, EBA and EIOPA dislike the new voting model proposed for the EFRAG Board

Three European financial supervisory authorities – the European Securities and Markets Authority (ESMA), the European Business Association (EBA), and the European Insurance and Occupational Pensions Authority (EIOPA) – wrote a joint letter to head of the European internal market commission Michel Barnier, expressing their concern about the new voting model.

FASB issued its new “Outlook”

The US Financial Accounting Standards Board (FASB) issued its quarterly FASB Outlook – a new informative electronic edition. It is a newsletter to keep interested parties informed about the current key projects and activities of the standard-setter.

Vice chairman of Bitcoin Foundation arrested in the USA

American law enforcers arrested Charlie Shrem, the vice chairman of Bitcoin Foundation, accusing him of involvement in money laundering. He is also the head of BitInstant – the cryptocurrency’s electronic stock exchange. The criminal case also mentions Silk Road’s user Robert M. Faiella.

Russian government officials getting back to business

The government of Russia plans to get its public servants back to boards of companies where their presence was once prohibited. This is done in order to maintain control over large companies currently under control of the state, although not forever.

Taxmen will be able to check all transactions with participation of offshores

The Ministry of Finance proposes to recognize all controlled transactions with participation of companies registered in offshore jurisdictions no matter what the annual income on such transactions is.

CB of Russia warned against cryptocurrencies

The Bank of Russia expressed its official opinion in respect of cryptocurrencies: it says that all such transactions are speculatory by nature; they are performed on “virtual” stock exchanges and are obviously associated with very high risks