The ACT, focusing on the impact on corporates, urge the government not to impose new legislation to deal with major market disruption.
The ACT does not consider it necessary for new legislation to be introduced to confer new powers on government to intervene in the financial markets or in contracts arising from them. The case for such legislation would be strengthened if it were part of a concerted multinational (e.g. EU/G10) approach to the market disruption risk. However, even in such a case the potential negative consequences of such legislation may outweigh the advantages.
ACT welcomes move to pensions simplification but urges shift to lifetime limit on contributions, not benefits, and recommends acceptance of Green Paper's clearing house and insurance concepts.
In comments made to the Department for Work and Pensions and the HM Treasury/Inland Revenue submitted today, the ACT welcomes the Government's attempt to simplify the taxation of pensions and its proposals to replace the numerous complex existing regimes by a single unified approach, giving individuals clearer simpler choices making it easier to set up and run good pension schemes.
ACT supports principles of Financial Accounting Exposure Draft 31 on share based payments for all kinds of goods and services including employee remuneration.
In its comments to the Accounting Standards Board (ASB) today, The Association of Corporate Treasurers (ACT) supported the principles set out by the ASB in FRED 31. It recommended that the approach be extended to bonds convertible into shares.
ACT Response to US SEC Interim report on Credit Rating Agencies, March 2003
Michael Macchiaroli
Associate Director
Office of Risk Management and Control
Division of Market Regulation
U.S. Securities and Exchange Commission
450 Fifth Street, NW, Washington DC 20549
Response to Interim Report on the Role and Function of Credit Rating Agencies in the Operation of the Securities Markets (as required by S. 702(b) of the Sarbanes-Oxley Act of 2002, U.S. Securities and Exchange Commission, January 2003)
Treasurers have a lot to cope with at the moment: the usual day-to-day pressures, increasing demands from the Board to manage risk more tightly, squeezing out another basis point here and there, keepi
The long awaited Green Paper on pensions reform “Simplicity, Security and Choice: Working and Saving for Retirement” has now been published. Whilst inviting comment on a range of proposals designed to overhaul the pensions sector and fill the widening “savings gap”, it is not the radical re-think of pensions strategy for which many pressure groups had been hoping. A quick reference guide to the main proposals is provided below.
The long awaited Green Paper on pensions reform “Simplicity, Security and Choice: Working and Saving for Retirement” has now been published. Whilst inviting comment on a range of proposals designed to overhaul the pensions sector and fill the widening “savings gap”, it is not the radical re-think of pensions strategy for which many pressure groups had been hoping. A quick reference guide to the main proposals is provided below.
Editorial The current economic environment means that the job market is becoming increasingly competitive across the board, from the junior ranks to senior treasurers, to FDs and CEOs.
