Accounting Standards Board : Proposal for disclosures on financial instruments

15 June 2012 The Accounting Standards Board has been working to replace the battery of existing Financial Reporting Standards (FRSs) and Statements of Standard Accounting Practice with a single comprehensive FRS that will provide consistency and cohesion. As part of this, in January 2012, it issued “Revised FRED 46, 47 & 48: The Future of Financial Reporting : Part Two: The Draft Standards” for comment (link provided below). Author: Martin Veasey © www.veaseyassociates.co.uk 2011 – 2018

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Central Clearing of Derivatives : EMIR Update

26 January 2012 There has been some relief in the pensions area, and in investment management in general, that we have been granted a three-year exemption from the EMIR requirement that over the counter derivatives should be centrally cleared through exchanges. Pension schemes which have established swap-based liability hedging programs would be particularly badly hit, though the legislation would extend to the use of derivatives in other areas: such as bond fund management, where they are routinely used to manage duration and credit risk. Author: Martin Veasey © www.veaseyassociates.co.uk 2011 – 2018

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