regulation
Learning the lessons of finance regulation
I was fascinated to learn that an academic at the University of Glasgow has won almost half a million pounds worth of funding from the Economic and So...
FSA gets to ban firms and individuals
The bill contains significant extension of the FSA’s those powers. Mathew Rutter, partner at law firm Beachcroft LLP said: "The power to te...
SEC and FASB clarify fair-value accounting standard
Courtesy of the DechartOnPoint Bulletin, we offer a look at how fair-value accounting stands in the light of new statements from the SEC and FASB. It offers details of how investments and assets should be assessed, especially under FAS 157. The new rules may provide a measure of comfort to companies that reasonably believe current market prices for certain assets reflect fire-sale prices or transactions in disorderly markets.
SEC and FASB clarify fair-value accounting standard
Courtesy of the DechartOnPoint Bulletin, we offer a look at how fair-value accounting stands in the light of new statements from the SEC and FASB. It offers details of how investments and assets should be assessed, especially under FAS 157. The new rules may provide a measure of comfort to companies that reasonably believe current market prices for certain assets reflect fire-sale prices or transactions in disorderly markets.
ACT MarketWatch: Update on rules and reporting
The month's MarketWatch briefs from the ACT look at new reporting ideas from the SEC, including a replacement of Edgar, roadmap to IFRS, the concept of materiality, pre-emption charges and amendments to IAS 39.
SEPA and developing a new model for the EU payments market
Mark Dunleavy looks at how EU rules under SEPA are pushing banks to improve payment services to companies. While compliance issues may have been tackled, solid solutions still need to be developed and there remain idiosyncrasies.
IFRS impact on cost of equity
Martin O'Donovan, ACT's assistant director of policy and technical issues, reports on a research paper from accountants' body ACCA which considers the effects of accounting standards on the cost of equity, and whether improvements in accounting and disclosure quality are driven by mandatory standards or market incentives.
The Bottom Line:If Mr Cable has his way...
"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more