Pierre Bollon, director-general of the French Asset Management Association (AFG-ASSFI) and Peter Montagnon, head of investment affairs at the Association of British Insurers questioned the wisdom of implementing mandatory quarterly accounts filings, saying this had not helped prevent corporate scandals in the US.
Rather, they said it was vital that ‘price-sensitive news’ was transmitted ‘accurately and promptly to the whole market in an orderly way’.
‘Quarterly reporting is not a substitute for reliable ad hoc announcements,’ they said in a letter to the Financial Times.
The European Commission has proposed mandatory quarterly reporting as part of its transparency directive. It is a standard requirement amongst listed companies in the US.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016