The Securities and Exchange Commission (SEC) is to grant a further extension to the implementation date of sections 302 and 404 of the Sarbanes Oxley Act for foreign issuers. Donald T Nicolaisen, the SEC’s chief accountant, said: “The section 404 requirements are among the most important parts of the Sarbanes-Oxley Act, and I encourage public companies to devote the necessary resources to make sure those requirements are implemented effectively. I don’t underestimate the effort this will require for smaller companies and foreign private issuers, but this extension will provide additional time for those issuers to take a good hard look at their internal controls, as the Act contemplates.” But the extension should not be seen by non-US companies as extra breathing space, according to the SEC. Shaun Critten, senior partner at London-based advisory firm willismorris said: “It is very encouraging that the SEC is listening to foreign registrants, who feel that they do not have the time to adequately assess the design of internal controls and to put in place cost-effective, long-term remediation strategies. Some companies have been looking at band-aid solutions to get them across the implementation line, yet these solutions may not be sustainable in the long term”.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more