The Association for Financial Professionals (AFP) said it supports the decision by the US Securities and Exchange Commission (SEC) to further examine its oversight of rating agencies. The SEC’s action was disclosed in a report delivered to Congress on Friday, January 24. ‘We are pleased that the SEC will be considering steps to increase its oversight of rating agencies and stimulate competition in the market for accurate and timely credit rating information,’ said Jim Kaitz, president and CEO of AFP. In November, an AFP survey reported that 29 per cent of practitioners who work for companies with rated debt believe that their company’s ratings are inaccurate. The SEC will further examine issues identified during its preparation of the report, including potential barriers to entry to the market for credit ratings and the SEC’s ongoing oversight of rating agencies. The report further stated that the SEC will propose rules within 60 days and solicit public comment.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.