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WFE Focus December 2011
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Bermuda Stock Exchange granted designated exchange status by Canadian Department of Finance

The Bermuda Stock Exchange has been granted the Designated Exchange status by the Department of Finance in Ottawa under the Income Tax Act. Securities listed on BSX will now be eligible for Canadian registered retirement savings plans as well as tax free savings accounts.

Eurex signs training and education partnerships

Eurex has signed cooperation agreements with two well-known and highly respected partners with, the National Taiwan University and the Securities & Futures Institute. The cooperation foresees joint training and education efforts for Taiwanese students and market participants, as well as capital market training courses aimed at contributing to the development of the regional futures markets.

Hong Kong Exchanges and Sichuan Financial Affairs Office sign MoU

Hong Kong Exchanges and Clearing and the Sichuan Province’s Financial Affairs Office in China signed a Memorandum of Understanding on cooperation and the exchange of information.

IASB and IFAC sign MoU on accounting standards

The International Accounting Standards Board and the International Federation of Accountants have recently signed a Memorandum of Understanding to strengthen their cooperation in developing private and public sector accounting standards. The agreement reflects the IASB’s and IFAC’s shared conviction that the transparency provided by high-quality financial reporting standards contributes significantly to the effective functioning of capital markets and sound economic growth. The agreement represents a further commitment to strengthen the cooperation between the two boards, with a view to ensuring greater consistency in their respective standard-setting activities. It also acknowledges the ongoing working relationship between the IASB and the International Auditing and Assurance Standards Board, which is also supported by IFAC.

MICEX-RTS and OECD sign agreement to strengthen corporate governance in Russia

On 12 December 2011, MICEX-RTS and the Organization for Economic Co-operation and Development signed an agreement that will strengthen corporate governance in Russia through a program called the OECD-Russia Corporate Governance roundtable. The program, to last for a period of three years, will tackle remaining corporate governance challenges in Russia through dialogue, research and access to international experts. The program will also improve the understanding of Russian corporate governance practices and ongoing reform efforts among key target audiences.

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