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Finland

Under the International Accounting Standards (IAS) Regulation (2002/1606/EC), listed companies must prepare consolidated financial statements (or individual financial statements if they are not preparing consolidated financial statements) for financial years commencing on or after January 1 2005, in accordance with IAS/IFRS (International Financial Reporting Standards).

January 01 2005

Austria

Following the implementation of EU Directive 2002/65/EC concerning the distance marketing of consumer financial services, suppliers of financial services in Austria are bound to observe the Act on Distance Marketing of Consumer Financial Services (Fern-Finanzdienstleistungs-Gesetz [FernFinG]) from October 1 2004 when offering financial services by means of distance communication to consumers (that is, persons or entities not acting in their professional capacity).

January 01 2005

Court denies resurrection of cases under Sarbanes-Oxley

A New York court gave comfort to issuers and securities firms last month when it ruled that the Sarbanes-Oxley Act does not allow plaintiffs to revive cases that have lapsed under previous time limitations.

January 01 2005

Twenty trends to watch out for in 2005

A softening stance from US regulators? Eurobond listings shifting to Switzerland? A hiring crisis among banks in Asia? IFLR makes its pick of the regulatory, legislative and transactional trends to look out for over the coming 12 months. By Andrew Crooke, Ben Maiden and Michael Evans

January 01 2005

Editorial

As the implementation of Europe's Financial Services Action Plan moves to the fore this year, regulators in the EU can learn from the rulemaking approach of their US counterparts.

January 01 2005

Japan's no-nonsense approach to compliance

Since the Financial Services Agency shut Citibank's private banking operations because of compliance breaches, market participants have been worrying that this is the start of a crackdown on their operations. Andrew Crooke asks Naohiko Matsuo, the regulator’s director for international financial markets, whether that is true

January 01 2005

Companies nervous over governance

General counsel at international companies are going to increasing lengths to ensure compliance with corporate governance codes.

December 01 2004

Raters clarify position on legality of German true sale

Rating agency Standard & Poor's has confirmed that, for rating purposes, true-sale assignment in Germany is valid, despite a court decision to the contrary in May 2004.

December 01 2004

Bankers profit as Asian regulators soften stance on credit derivatives

Bankers in Asia are tapping markets from Thailand to Taiwan amid regulators' growing acceptance of credit derivative products, reports Andrew Crooke

December 01 2004

Swiss make play for Eurobond market

Disclosure rules are forcing issuers to consider listing outside the EU, reports Michael Evans. Switzerland's SWX sees a chance to win business from its European rivals

December 01 2004

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