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Standards are key to Hong Kong’s future
Wednesday 7 Sep 2011 | Will Henley in Hong Kong
Hong Kong’s embrace of new international standards, including Basel III, is not merely grudgingly accepted by China, it is actively encouraged, asserts the HK Society of Financial Analysts. But this doesn’t mean the special administrative region is merely the mainland’s ‘guinea pig’.
HK should refine its investor regime
Tuesday 6 Sep 2011 | Cheri Wong
Over-regulation of structured products could hurt the competitiveness of the financial industry in Hong Kong and may hinder its development as a wealth management hub, says Cheri Wong, chief executive of the HK Society of Financial Analysts.
JP Morgan fears shadow bank arbitrage
Friday 2 Sep 2011 | Will Henley
JP Morgan says it is concerned that traditional banks risk losing business as heightened regulation drives capital into the hands of the less well-regulated shadow banking sector. In its response…
FRC moots auditor switches for UK firms
Thursday 1 Sep 2011 | Andrew Hickley
The UK’s accounting regulator has announced it will change the country’s corporate governance code to encourage companies to put their audits up for tender every 10 years. The Financial Reporting…
OECD urges action on tax dodging firms
Tuesday 30 Aug 2011 | Andrew Hickley
Governments need to overhaul their corporate tax regimes to ensure that lost income from companies using “aggressive tax policies” are reduced, a report from the OECD has warned. Published on…
IASB: EU banks fudged Greek bond holdings
Tuesday 30 Aug 2011 | Andrew Hickley
The International Accounting Standards Board has released a letter claiming that banks have deliberately massaged annual results to show smaller than expected losses on Greek government bonds. Sent…
Acca: US must allow IFRS immediately
Tuesday 30 Aug 2011 | Andrew Hickley
A leading accountancy association has called for IFRS accounting standards to be given the green light in the US in an effort to boost transparency among large international corporations. In a…
Esma urges IFRS 8 accounting speed-up
Tuesday 30 Aug 2011 | Andrew Hickley
The European Securities and Markets Authority has hit out at a recent decision by a key IFRS committee that would see improvements to the accountancy standard IFRS 8 delayed. Esma’s standing…
Transaction tax backed by accountants
Friday 26 Aug 2011 | Will Henley
A global trade body for professional accountants has said it supports a Franco-German idea for a financial transaction tax – but would prefer it to be a worldwide levy. The Association of Chartered…
Small UK firms excused from accounting
Thursday 25 Aug 2011 | Andrew Hickley
Around five million UK businesses could be given an exemption from corporate reporting procedures under proposals put forward by the country’s accounting regulator. The Financial Reporting Council…
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INTERVIEWS & ANALYSIS
HKEx: ‘We don’t believe in arbitrage’
The financial services industry is high up on the target list for the Hong Kong Exchange’s key company poacher, head of issuer marketing Eric Landheer. But which firm – insurer or bank – is his next target? And how will he lure them?
Stef Zielezienski (right) testifying to Congress - Photo by AIA G-Sifi insurer designation too ‘secretive’
As efforts gather pace in Basel to determine which insurers should be deemed globally systemic, the American Insurance Association tells Global Financial Strategy that the process is wrongheaded, lacks transparency and may seriously harm the US market. Will Henley reports.

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