LONDON – Financial firms of any type whose failure poses a risk to the financial system must in future accept especially close regulatory scrutiny, US Federal Reserve Board chairman Ben Bernanke said in January.

US regulators exonerate fair value accounting, but in the crisis blame game the debate will continue; some see the verdict endangering a global accounting standard writes David Keefe

What may to the uninitiated have seemed a fairly harmless change to fair value rules in Europe in October may distort some of the key measures used by analysts and investors to assess the worth of banks, according to ratings agency Fitch Ratings.

The New Year is seen as pivotal for a host of accounting issues, including the question of a global standard writes David Keefe

The International Accounting Standards Board (IASB), responding to the recommendations of global regulators, issued a spate of proposals in mid-December, including:

Goldman Sachs managing director Jerry Corrigan and Italy’s former finance minister, Thomaso Padoa-Schioppa, are among 16 leading lights in global finance who’ve agreed to serve on a high-level advisory group looking into accounting issues arising from the global financial crisis. Corrigan, a former New York Federal Reserve Bank chief, is also a co-chairman of the Counterparty Risk Management Policy Group, a consortium of big banks that last year recommended new risk standards for Wall Street firms.

Proposals in the US Senate aimed at curbing tax avoidance by foreign reinsurers are called protectionist and damaging

BASEL, Switzerland, January 16 (Global Risk Regulator) – Global banking regulators today issued their long expected package of consultative documents aimed at strengthening the Basel II bank capital framework.

LONDON, January 13 (Global Risk Regulator) – Financial firms of any type whose failure poses a risk to the financial system must in future accept especially close regulatory scrutiny, US Federal Reserve Board chairman Ben Bernanke said in remarks today.

LONDON, January 7 (Global Risk Regulator) – Britain, which is hosting the next big summit on the global financial crisis, wants world leaders to focus on reinforcing international cooperation in the areas of financial market regulation and supervision, according to UK finance minister Alistair Darling.