Financial Regulatory Forum

Global disclosure 2011 review: trends and new mandates in public filings

By John Mackie

NEW YORK, Dec. 22 (Business Law Currents) – The global push for increased transparency by public issuers continued in 2011, with developments on a number of fronts. U.S disclosure trends included Dodd-Frank related mandates and event-driven disclosures. Canada continued to refine its disclosure regime, seeing voices weigh in from the Canadian Securities Administrators and the Supreme Court. Regulators in the UK, meanwhile, pressed issuers to emphasize clarity over quantity in their disclosures. Business Law Currents takes a closer look at the global disclosure picture in 2011, highlighting this year’s trends, developments, concerns and challenges.

Among the hot disclosure topics for 2011 were Chinese issuers, the natural disasters in Japan, and the regulation of credit rating agencies. On a regional basis, the Supreme Courts in both the U.S. and Canada provided their thoughts regarding materiality assessments in a disclosure context. (more…)

ANALYSIS-Mining rights issue tarnishes S.Africa’s image

By Agnieszka Flak and Julie Crust

JOHANNESBURG/LONDON, Aug 24 (Reuters) – South Africa’s handling of two disputed mine right awards has damaged the resource-rich country’s reputation and raised investor concerns over transparency and governance.

Kumba Iron Ore, a unit of Anglo American, and Lonmin have said the government deprived them of mining rights when it awarded prospecting licences, some to people linked to high-ranking officials, over areas where the two mining giants operated.

(more…)

Swiss tax info came from banks, informers -France

PARIS, Aug 31 (Reuters) – France obtained the names of 3,000 suspected tax evaders with Swiss bank accounts from banks and unpaid informers, Budget Minister Eric Woerth said on Monday.

(more…)

U.S. accounting board eyes more disclosure on illiquid assets

Financial Accounting Standards Board Chairman Robert Herz makes remarks at the Reuters Regulation Summit, in Washington, February 7, 2008.     REUTERS/Mike Theiler (UNITED STATES) WASHINGTON, Aug. 31 (Reuters) – U.S. accounting rulemakers have proposed requiring new disclosures on how companies value illiquid assets, a move designed to make it easier for investors to assess businesses’ financial health.
(more…)

New U.S. commodity futures reporting may raise transparency, questions

By Alden Bentley
NEW YORK, Aug 25 (Reuters) – More transparency or too much information?

Energy traders, analysts and mom-and-pop farmers may find themselves swimming in detail on the big bets and hedges in the commodity markets, when the U.S. futures market regulator overhauls its widely-watched report on trader positions.

(more…)

ANALYSIS-CFTC’s expanded trader reports to add transparency

Traders work in the crude oil futures trading pit at the New York Mercantile Exchange, February 12, 2009.   By Tom Doggett and Ayesha Rascoe
WASHINGTON, Aug 19, (Reuters) – The plan by U.S. commodity regulators to provide more information on the traders doing business on futures exchanges will shine more light into the opaque markets, but will still give the often-criticized speculative investor a measure of cover. (more…)

ANALYSIS-Enforcement key to curbing naked short selling

By Leah Schnurr
NEW YORK, July 29 (Reuters) – Efforts by U.S. securities regulators to clamp down on an abusive type of short selling could help prevent manipulation in the market, but the rules amount to nothing without better enforcement.

(more…)

LME, ICE say no plans to detail non-commercial positions

By Pratima Desai
LONDON, July 29 (Reuters) – The London Metal Exchange and Intercontinental Exchange said on Wednesday they had no plans to publish details on speculative positions on their contracts, despite controversy about some recent holdings at LME.

(more…)

  •