Her comments fly in the face of a speech made by FSA chief Howard Davies in February, when he said an Enron-style disaster could, indeed, happen in the UK, by which he meant a corporate collapse of similar size and impact.
But speaking at the annual convention of the Institute of Directors, Clara Furse said she could not envisage Enron happening in the UK, with its strictprinciples-based disclosure rules.
She said the disclosure regime would have highlighted Enron’s problems long before they got to a critical stage.
The US is now looking at the London Stock Exchange’s disclosure rules to prevent Enron from happening again, according to Furse.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements