UKLA endorsed by City as consultation winds up October 18, 2010 THE UK Listing Authority (UKLA) received backing from the City yesterday, just as the government consultation on its future closed. The Listing Authority Advisory Committee (LAAC), the body which represents the investment community in its dealings with the UKLA, said overall satisfaction with the authority had risen to 72 per cent compared to 69 per [...]
Governance Code gains support October 18, 2010 Sixty-eight institutions have published statements of support for the new UK Corporate Stewardship Code, including 48 asset managers, 12 asset owners and eight service providers. “A critical mass of investors is coming through and this is a very important first step,” said Financial Reporting Council chairman, Baroness Hogg. The Stewardship Code is being introduced to [...]
The accountant who sees EU rules as a chance to transform his firm October 18, 2010 For a man less than three months away from retirement, BDO’s policy board chairman – in effect, the firm’s international chairman – can’t wait to get into the issues. And to be fair, there is much for Dermot Mathias, who joined the accountancy giant 37 years ago, to discuss. What excites him most is the [...]
City unites against UK listing proposal October 14, 2010 THE City has roundly rejected the government’s proposal to merge the UK Listing Authority (UKLA) with the Financial Reporting Council (FRC) saying such a move would serve to fragment the regulation of the investment market and hurt investors and issuers. The proposal to merge the UKLA was put forward as part of the government’s consultation [...]
Second probe into E&Y over Lehman Brothers collapse October 4, 2010 THE accounting watchdog yesterday opened a second investigation into auditor Ernst & Young (E&Y) over its auditing of failed US investment bank Lehman Brothers. The probe will examine what E&Y told UK regulators about how Lehman Brothers was complying with client asset protection rules. “The Accountancy and Actuarial Discipline Board (AADB) has begun an investigation [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 30, 2010 FINANCIAL TIMES BUSINESS CALLS FOR REVIEW OF CURBS ON MIGRANTS New rules that restrict companies from hiring foreign workers must be “reviewed immediately”, the CBI employers’ body said, putting the business lobby on collision course with the government. The Home Office imposed a temporary limit on skilled workers coming to Britain from outside the European [...]
IoD slates regulation plan September 28, 2010 THE Institute of Directors (IoD) yesterday became the latest organisation to join the London Stock Exchange (LSE) in opposing the merger of the Financial Reporting Council and the UK Listing Authority (UKLA). In a statement, Miles Templeman, director-general of the IoD, said it made no “sense to leave the UKLA separate from the body [the [...]
Top 100 list shows women at senior level September 26, 2010 MORE than a fifth of Europe’s 100 most influential women sit at the top of some of the largest companies within the financial services sector, according to new findings. According to the fourth annual list of the 100 most influential women compiled by Financial News, more than 20 per cent of the listed women in [...]
Winterflood backs LSE on rules change September 26, 2010 CITY veteran Brian Winterflood has joined London Stock Exchange (LSE) chief executive Xavier Rolet’s call for the Square Mile to oppose the government’s proposed splitting up of the UK’s share listing regulations. According to an audience member at a Quoted Companies Alliance (QCA) dinner last Thursday, Winterflood gave an impassioned speech, calling on all those [...]
The housebuilding chief executive who can see clear blue skies ahead September 26, 2010 FOR A MAN who took over a housebuilder in the middle of a devastating financial and property crisis, David Ritchie, the chief executive of Bovis Homes, looks remarkably relaxed. But it is certainly fair to say the pain has eased in recent months for the firm, even though Ritchie remains in the middle of turning [...]