British regulators need an “ambitious growth mindset” to implement post-Brexit financial sector reforms faster and stop business going elsewhere, an industry body said on Thursday. Britain’s “Edinburgh Reforms” – proposed by finance minister Jeremy Hunt over a year ago – …
Accountants must play a role in spotting fraud when they check the books of companies, a global standard setting body for corporate auditing said in robust proposals Feb 6. The International Auditing and Assurance Standards Board (IAASB), which writes norms …
Britain’s opposition Labour Party, tipped in the polls to win an election expected this year, set out its blueprint on Tuesday to “unashamedly champion” a financial sector worried about its global competitiveness following Brexit as top rival New York lures …
Crypto companies based outside the EU will only be able to directly serve customers within the bloc under very limited conditions to avoid unfair competition, the European Securities and Markets Authority (ESMA) proposed on Monday. The EU approved the world’s …
Tackling hidden leverage across the multi-trillion dollar “shadow banking” sector is next year’s priority, global financial regulators said on Wednesday, but the challenge of accessing data could hamper the process. The G20’s Financial Stability Board (FSB) and IOSCO, a global …
Britain’s Financial Conduct Authority (FCA) can take too long to act and a sweeping post-Brexit internal revamp to make it nimbler will take years to complete, the National Audit Office (NAO) said in a report on Friday. The FCA regulates …
A global securities watchdog proposed 21 safety measures on Sunday to improve integrity, transparency and enforcement in voluntary carbon markets (VCMs) in a sector of growing importance to efforts to combat climate change. IOSCO, which groups market watchdogs from Asia, …
Regulators should keep on open mind when writing rules for the world’s $239 trillion “non-bank” financial sector to avoid one-size fits all approaches, the EU’s top securities watchdog said. Non-banks, a sector which includes hedge funds, real estate funds, insurers …
The Bank of England said on Friday it would start the second leg to its first system-wide stress test of how banks, insurers, pension schemes and clearing houses collectively cope with shocks involving interest rates and risky asset prices over …
Britain’s accounting regulator on Thursday fined KPMG a record 21 million pounds ($26 million) for a “textbook failure” in audits of Carillion, the builder that imploded in 2018 and prompted a root and branch review of auditing standards. The collapse …
