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In focus: Controlled foreign companies overhaul
Wednesday 14 Dec 2011 | Jonathan Hornby
The UK is to see some of the most sweeping reforms to its foreign controlled company regime since the 1980s, writes Jonathan Hornby, senior director at law firm Alvarez & Marsal Taxand, with knock-on effects for banks and other financial firms.
FRC locks horns on 'comply or explain'
Wednesday 14 Dec 2011 | Andrew Hickley & Will Henley
The UK accounting regulator has mounted a defence of the 'comply or explain' system of corporate governance, suggesting any bid by Brussels to replace it with legislation should be resisted.
Bodies release risk management guide
Wednesday 14 Dec 2011 |
European trade groups have released guidance to help firms meet risk management obligations, aiming to ensure they are not subjected to additional regulatory requirements.
Hong Kong 'world's top financial centre'
Wednesday 14 Dec 2011 |
Hong Kong has usurped New York and London as the world's most developed financial centre, according to a report by the World Economic Forum.
Cayman rings changes for mutual funds
Wednesday 14 Dec 2011 | Deborah Poole
Legislation affecting the way mutual funds are managed in the Cayman Islands was green-lighted last week. Deborah Poole, partner at law firm Walkers, offers the inside track on this new regulatory shake-up.
Banks 'falsifying accounts' to overpay profits
Wednesday 14 Dec 2011 |
The world's largest banks are fiddling their accounts and lying to investors over the state of their finances so as to pay out overgenerous bonuses and dividends, a leading free-market think tank has claimed.
MEPs blast Britain over 'blackmail' bid
Tuesday 13 Dec 2011 |
Senior EU parliamentarians have lashed out at the UK for trying to "blackmail" the rest of the European Union into accepting an opt-out on financial regulations for the City of London.
Hoban: 'Light-touch' regs led to RBS fall
Tuesday 13 Dec 2011 |
The UK's Treasury minister says that a "catalogue" of regulatory failures led to the near collapse of one of the world's largest banks, blaming the "light-touch" approach of the previous government.
EC's Barroso lambasts Britain's veto
Barroso in Strasbourg - photo by European Commission Tuesday 13 Dec 2011 |
European Commission president José Manuel Barroso has hit out at Britain's veto of a new European treaty saying the UK's demands for safeguarding financial services made "compromise impossible" for the other 26 member states.
UK PM: Max harmonisation behind veto
David Cameron - Crown copyright Monday 12 Dec 2011 |
One of the reasons behind the UK's veto of the new EU treaty on Friday was the fact that the Vickers' recommendations cannot be enacted under current EU legislation, according to Prime Minister David Cameron.
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