Regulation

What's the Holdup With Dodd-Frank Rulemaking?

Karen Kroll May 08, 2012

The Volcker rule is slated to go into effect this July. One problem: A final version of the rule still doesn't exist. In fact, many of the final Dodd-Frank Act rules still aren't written. So what's the holdup? One impediment is that regulators must do better cost-benefit analysis after a court ruling last year. "That's a huge undertaking, and it's going to slow things down," says Hal Scott, a professor at Harvard Law School.

JOBS Act Inspires Criticism of Regulatory and Governance Rollback

Tammy Whitehouse March 27, 2012

The newest members of the public company ranks will now have five years to avoid corporate governance requirements, thanks to the JOBS Act passed by Congress last week. Critics say the measure will do little more than play to scam artists. "With securities fraud running at a record level ... any reasonable person would understand there needs to be adequate protection of investors," says Lynn Turner, governance activist and former SEC chief accountant.

Regulatory Changes at Record Levels

Karen Kroll February 14, 2012

Regulators around the world issued an average of 60 new or amended rules per day last year, according to a study from Thomson Reuters, and 2012 is likely to bring still more thanks to the Dodd-Frank Act and similar laws. "For end users, there's a scary amount of work ahead," says Alex Robson, chief editor of the report. A round-the-world tour of compliance officers' headaches is inside.

Britain's Corporate Watchdog Rethinks Confusing Role

Neil Baker July 08, 2011

Britain's Financial Reporting Council is planning a major overhaul of the way it works, after conceding that its activities are often "impenetrable" to outsiders. The regulator, which enforces financial reporting laws, sets accounting and governance rules, and oversees audit firms, said it would streamline its structure.

Europe's National Regulators to Lose Influence

Neil Baker March 25, 2011

As new European Union supervisory bodies get up and running, financial regulators at individual European nations will find their powers curtailed, warns Hector Sants, head of Britain's Financial Services Authority. Three new E.U. financial overseers opened at the start of the year, including the European Securities and Markets Authority.

Accounts Watchdog Reveals Priority Sectors

Global Glimpses December 11, 2009

0 false 18 pt 18 pt 0 0 false false false The U.K. watchdog that scrutinizes company reports for suspect accounting practices says it will focus its firepower on businesses in the commercial property, advertising, media, recruitment, and technology sectors next year. The Financial Reporting Review Panel says it will...

“Urgent Change” Needed to Fix Reporting

Global Glimpses June 04, 2009

Corporate reporting is too complex and needs “urgent change,” according to a discussion paper from U.K. regulator the Financial Reporting Council (FRC).The International Accounting Standards Board should overhaul its standards so each one has an easy-to-follow structure with a clear statement of what it is supposed to achieve, the FRC...

Europe Speeds Up Financial Regulation Reform Plan

Global Glimpses May 29, 2009

The European Commission has accelerated plans to create a new regulatory framework for financial services firms. Announcing more detail on the trading bloc’s plans and a timetable for the needed legal changes, Commission president Jose Manuel Barroso said he wanted it up and running next year, not 2012 as originally...

China's Sarbanes-Oxley

Bruce Carton October 01, 2008

I was just reading Richard Meyer's interesting article on Compliance Week (here) about “CSOX,” China’s version of governance and financial reporting akin to the Sarbanes-Oxley Act in the United States, which Chinese authorities would like to have in place by the middle of next summer."CSOX"? People, please! I demand...

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