IFLR Search

US government report cautions against rotating accountants

Companies should not be forced to rotate the firms they use to prepare their accounts, according to a US government report. The General Accounting Office (GAO), commissioned to look into the effects of requiring companies to change their audit firms every few years, reported that it could not be sure that the benefits of doing so would outweigh the costs.

December 01 2003

The month in a minute

It emerged that the EU's Prospectus Directive, published in November, restricts non-EU issuers of equity, equity-linked or low denomination debt securities in the EU to a single regulator, with immediate effect. The Directive will permanently tie issuers to the state regulator of their next issuance in the EU. Issuers that make a wrong decision could find themselves locked into using a regulator with less experience than the company would like.

December 01 2003

AIM to opt out of EU Prospectus rules

Companies listed on London's Alternative Investment Market will be exempt from Europe's costly Prospectus Directive under plans drawn up by the London Stock Exchange (LSE).

December 01 2003

Regulators hold key to covered bonds in Asia

HBOS has shown that issuing covered bonds is possible without specialized legislation. Local laws will determine whether Asia’s banks can follow suit. By Richard Mazzochi and Abigail Rath

December 01 2003

US regulators respond to Basel II

Implementing Basel II in the US will have far-reaching implications for credit derivatives. Conrad Bahlke and Robert Lewin explain how

December 01 2003

Why banks may give way over European junk

Senior lenders are starting to compromise over the structure of European high-yield bonds. Diane Roberts explains why

December 01 2003

Why uncertainty could stall synthetic CDOs

The synthetic resecuritization market is booming, but worries remain about the regulatory treatment of many products. Paul Forrester explains

December 01 2003

How Fifa sold terrorist risk to the capital markets

Football's governing body has switched the risk of World Cup cancellation to investors, even in the event of a terror attack. David Trott and Grant Jenkins explain how

December 01 2003

South Korea

The Korean government has combined the Securities Investment Trust Business Act and the Securities Investment Company Act to create the Indirect Investment Asset Management Business Act, covering both investment trusts and investment companies. Under the new Act, effective from January 4 2004, a single set of regulations governs all types of asset management. The new Act strengthens the protection available to investors and expands the scope of assets subject to management.

December 01 2003

Switzerland

The Swiss parliament enacted an amendment to the Federal Act on Cartels on June 20 2003. The deadline has passed for a referendum against the amendment so it will most likely enter into force on April 1 2004.

December 01 2003

Search results for