Reuters report here. HSBC’s “we are very sorry about it all and we’re shutting the stable door now” statement of this morning here. Good background from the NY Times here.
17 July 2012
US lawyers contemplate the unthinkable: smaller offices
From the WSJ Law Blog:
“…firms looking to maximize the use of space in their pricey digs are doing things that in past decades would have been unthinkable. As in:
- Shrinking lawyer offices
- Giving all lawyers the same-sized office (gasp) regardless of seniority
- Moving some offices away from the windows and into the building core (where secretaries and file cabinets used to sit).”
See also: “There are now far more capable lawyers and law firms than there is work for them to do”
17 July 2012
Two House of Commons Library notes on the financial transaction tax
This note discusses developments since the European Commission’s autumn 2011 proposal for a financial transaction tax, and this note looks at the historical background to the “Tobin tax”.
See also: French trading tax lacks details, say banks – Financial Times
17 July 2012
Primary Market Bulletin Issue 2, and the UKLA’s “Knowledge Base”
The Financial Services Authority, in its guise as the UK Listing Authority, has published the second issue of its “Primary Market Bulletin”.
The PMB has replaced the UKLA’s “List!” publication in providing guidance to Main Market issuers and their advisers on the application of the Prospectus, Listing, and Disclosure and Transparency Rules.
read more »
17 July 2012
Sky News: US regulators scathing about FSA and BBA’s efforts on Libor
From Sky News:
“By Mark Kleinman, City Editor
US regulators have criticised the British response to the escalating international Libor-rigging scandal, labelling it another example of a “made-in-London” financial crisis.
read more »
17 July 2012
SEC report on incorporating IFRS into the financial reporting system for US issuers
The Securities and Exchange Commission’s 13 July 2012 ”Work Plan for the Consideration of Incorporating International Financial Reporting Standards into the Financial Reporting System for U.S. Issuers” is here.
The Financial Reporting Council’s response expresses its disappointment at the SEC’s decision:
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