The Financial Services Authority has admitted that it will take its lead from the EC on whether to incorporate mandatory quarterly reporting into the updated UK listing rules, despite strong opposition to the move.
Link: UK lobby against quarterly reporting grows
Last week the FSA published a progress report on the modernisation of the listing rules. The report, which listed the views of respondents within the UK business community, showed that most were firmly against the idea of obligatory quarterly reports.
However, this has not convinced the FSA which has said it will follow the decision of the European Commission. A spokesman for the FSA said that the rules were being updated in line with European policy and if this provision were included by the EC, it would be backed by the FSA.
There have also been protests from leading figures in the business community.
Peter Montagnon, head of investment affairs at the Association of British Insurers and his French counterpart Pierre Bollon have claimed that quarterly reporting would not improve transparency and could lead to ‘short-termism.’ It is a view backed by Josef Ackermann, chairman of Deutsche Bank, and John Thain, president and co-chief operating officer at Goldman Sachs.
The numbers you crunch tell a story. Your expertis...
21yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View article