EuropeanIssuers calls for custody fees transparency

EuropeanIssuers, the pan-European organisation representing listed companies across Europe, has reminded the European Commission (EC) about the need for fee transparency amongst custodians.

The Brussels-based industry body, representing issuers in over 14 countries counting together some 9,200 listed companies with a combined market value of some € 4,500 billion responded to the EC consultation on “Market Standards for Corporate Actions Processing” in the summer, outlining that the benefits of the harmonisation of corporate actions processing would be reduced costs for investors and issuers: “In a competitive environment, the achieved cost savings should bring down the fees throughout the entire value [ownership] chain: CSDs, CCPs, stock exchanges, banks and custodians”.… Read the rest

FRC urges caution on bundled audits

The UK’s Financial Reporting Council (FRC) has warned against companies signing up for “bundled audits” pending completion of a review into the ethical questions surrounding their use.

As we reported in August, the downturn has encouraged the development of a new type of audit which blends internal and external audit.… Read the rest