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An international consortium of bank regulators hammered out an agreement over the weekend that requires the world's biggest banks to hold extra capital beyond the requirements faced by their smaller international competitors.
The Securities and Exchange Commission should make sure that the energy trader's saga puts an end to any talk of lessening disclosure requirements faced by public companies.
Your Oct. 6 editorial "Cover-Up on Clean Air" does not mention a few key facts about the increasingly stringent air quality requirements faced by electric power companies.
"Both Israel and Egypt express their understanding of the competing requirements faced by United States forces around the world, especially in light of the war on terror," a statement issued by the three countries said.
The concern is that Freddie Mac's quasi-public status allows it to borrow hundreds of billions at favorable rates, and then get away with risky trading strategies, all the while being exempted from reporting requirements faced by other securities issuers.
By accepting money from limited numbers of very rich individuals or institutional investors, and (in many cases) by basing themselves in places where regulation is lax, hedge funds escape the standard reporting requirements faced by mutual funds.
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Claimants who do not fulfil these requirements face having the new benefit reduced in a series of slices, ultimately to the level of jobseeker's allowance, says the green paper.
Under subsequent legislation, those who make false statements face a heavy criminal sanction: those who file a statement which they know does not conform to legal requirements face up to 10 years in prison and a $1m fine; while for a "wilfully" false certification, there is a penalty of up to twenty years in prison and a $5m fine.
Those who file statements knowing them not to conform to legal requirements face up to 10 years in prison and a $1m fine, while for a "wilfully" false certification, there is a penalty of up to twenty years in prison and a $5m fine.
Reliability and availability requirements face more challenges than performance requirements.
Huguet and Gandía (2014) also demonstrate that those smaller auditees that avoid the audit requirements face higher costs of debt than do client companies that undergo a compulsory audit.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com