Guarantees must be made that the London Stock Exchange will not find itself
under the auspices of the Securities and Exchange Commission if the market is
bought by Nasdaq or the New York Stock Exchange, according to brokers.
Angela Knight, chief executive of private client broker Apcims, said the SEC
must avoid investigating the affairs of UK businesses listed on the LSE if the
exchange is acquired by a US equivalent, reported the Daily Telegraph.
She is concerned with the difference in US and UK accounting standards, plus
the onerous affect on US business of Sarbanes-Oxley legislation.
However, FSA chief executive John Tiner recently suggested that the SEC would
not get involved in UK companies listed on the LSE, if the exchange was
Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
Does Darwin's theory apply to taxation? Colin ponders...
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges