Welcome!

The Walloon government DECIDED end December to allow the Walloon Which companies suffer from the crisis to have "interim managers" charged with Facilitating the reorganization and the reorganization of the company.

These managers will be selected through specialized companies in the field and will intervene either front or simultaneously with a financial assistance intended to help the company to redeploy its activities. An envelope of EUR 8 million was released in the 2009 budget Walloon. For EMS, the intervention of the manager will be Dealt with 50 PCs up by the envelope Interim Management, Which will also pre-finance the balance. The large companies will be able for them to have pre-finance the Totality of the cost of the mission of Interim Management. An envelope of a million euros - with a maximum of 75,000 euros per company could be used for a specific study, if it appears that the company is not able to finance it on its own treasury.

Attachment available only in French

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IASB is amending the Fair Value concept
November 12th, 2009

A survey conducted by the IFRS Agefi, in collaboration with KPMG shows that for more than three-quarters of respondents, the concept
of fair value must be questioned. The reform of IAS 39 is on track. However, the IASB does not return to the principle of fair value, Simply remove some constraints. On the corporate side, the standard on impairment of goodwill Which also concerned readers, raises its
own problems of interpretation.

The accounting regulators issued Thursday morning's version of IFRS 9 on the classification and accounting for financial assets. Compared to the initial presentation, Which Had Attracted much criticism from the banks and the European Commission, the revised standard reduces the scope of fair value.

Read more ...

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Meeting EuroFinance International Cash Management 2010

Strategic Cash and Liquidity Management for European Companies
Location: Amsterdam, The Netherlands
Date: March 16th 2010

This year's cash and liquidity management conference is designed to help CFOs and treasurers think more strategically about cash management issues and Improve awareness of the tactical opportunities that can be seized.

So, Whether you need a more solid grounding in the details or wish to take a longer-term corporate view, this conference will be invaluable in helping finance and treasury add value to your business.

The tone is set with a panel discussion on what CFOs want from their treasurers - and what treasurers can offer their CFOs. This will be an important and enlightening debate that will show you how to Improve communication and create a common cash crop within the organization.

For further details regarding the program please click on the link

For additional information regarding the Eurofinance Conferences click on the link below

http://www.eurofinance.com/conferences

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FINBRAIN-ITC SERVICES

FINBRAIN-ITC is supporting Corporates, Banks, Asset Managers and Middle-Market size companies in their activities on Finance, Cash Management, Risk Management, Front Office and Accounting techniques covering all areas of Treasury Management. We believe that it is important to have a total overview in the Treasury Organization in order to be able to create all-in solutions. FINBRAIN-ITC is Proposing services and is delivering value in the following fields: Interim-Management - Consulting - Training - Technology - Outsourcing

You will be given a round-up of technology developments occurring in your market. You will be told about alliances between different partners and informed of the intent behind Those alliances. You will be drilled on new products in your market so you can Assess Whether they will be of value to your business. And you will be Briefed on Which industry sectors are using Which suppliers - in effect, you will be given a guide to contracts recently awarded by leading companies. Other reasons Membership?

This will allow you to Develop an objective working knowledge of the markets, of the industry as a whole and will permit you take - or advise on - technology investments with confidence.

And there's more. We will tell about your industry moves so you can learn about who is moving where and get a view of a company's strategic intent based on Those movers' previous activities. You will be given a regular diary of forthcoming industry events so you can keep track of developments at conferences and network with your peers. And you will be provided with a very practical directory of services Which section will list industry contacts for your every need. This is part of our Corporate Services.

Over 500 corporate treasurers, finance directors and CFOs in Europe Rely on FINBRAIN-ITC each month for independent, accessible reporting of the highest quality.

Make use of the ITC-FINBRAIN Archives of over 150 of our comprehensive articles addressing your everyday business challenges to find help on risk, cash management and treasury. Use the article summaries provided to see if you need to go further, and check out related articles.

Subscribe to FINBRAIN-ITC why should you subscribe? Working with a Financial Consultant. A superb source of competitor information.

Economic & Financial Analysis Our company offers extensive experience in conducting economic evaluation and financial analysis and training courses.

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Solvency II: EU to take global lead in insurance regulation (see also MEMO/07/286)

The European Commission has proposed a ground-breaking revision of EU insurance law designed to Improve consumer protection, modernize supervision Deepen market integration and increase the international competitiveness of European insurers. Under the new system, known as 'Solvency II', insurers would be required to take account of all types of risk to Which they are exposed and to manage Those risks more effectively. In addition, insurance groups would have a dedicated 'group supervisor' that would enable better monitoring of the group as a whole. The Commission aims to have the new system in operation in 2012. This proposal is part of the Commission's Better Regulation Strategy and its firm commitment to simplify the regulatory environment and cut red tape. It will mean replacing 14 existing directives with a single directive. The proposal now passes to the European Parliament and Council for consideration.

Internal Market and Services Commissioner Charlie McCreevy said"This is an ambitious proposal that will completely overhaul the way We ensure the financial soundness of our insurers. We are setting a world-leading standard that requires insurers to focus on managing all the risks they face and Enables them to operate much more efficiently . It's good news for consumers, for the insurance industry and for the EU economy as a whole. "

What 'Solvency II' would introduce

Background to the Solvency II Project

The new system would introduce more sophisticated solvency requirements for insurers, in order to guarantee that they have sufficient capital to withstand adverse events, such as floods, storms or big car accidents. This will help to increase their financial soundness. Currently, EU solvency requirements only cover insurance risks, whereas in future insurers would be required to also hold capital against market risk (eg a fall in the value of an insurer's investments), credit risk (eg when debt obligations are not met) and operational risk (eg malpractice or system failure). All these risk types pose material threats to insurers' solvency purpose are not covered by the current U.S. system.

Insurers would also be required to focus on the active identification, measurement and management of risks, and to consider any future developments, such as new business plans or the possibility of catastrophic events, that might affect their financial standing. Under the new system, insurers would need to Assess their capital needs in light of all risks by means of the 'Own Risk and Solvency Assessment', While the'Supervisory Review Process'(SRP) would shift supervisors' focus from compliance monitoring and capital to evaluating insurers' risk profiles and the quality of their risk management and governance systems.

In addition, the new system would enable insurance groups to be supervised more efficiently, through a 'group supervisor'In the home country that would have specific responsibilities to be Exercised in close cooperation with the relevant national supervisors. This would entail a more streamlined approach to supervision that would Recognize the economic realities of such groups. The introduction of group supervisors would Ensure that group-wide risks are not overlooked and would enable groups to operate more efficiently, while Providing policyholders with a high level of protection. Groups that are Sufficiently diversified may also be allowed to lower their capital requirements under certain conditions.

Background

The aim of EU solvency rules is to Ensure that insurance undertakings are financially sound and can withstand adverse events, in order to protect policyholders and the stability of the financial system as a whole. However, the current EU solvency system is over 30 years old and financial markets have developed dramatically in recent years, leading to a large discrepancy between the reality of the insurance business today and its regulation. Also, many Member States have introduced their own additional rules at national level, leading to a range of different regulatory requirements across the EU, Which Ultimately Undermine the Single Market and especially hinder insurance groups. 'Solvency II' would replace this patchwork of different rules, Ensuring a level playing field and a uniform level of consumer protection. It is in line with international discussions within the International Association of Insurance Supervisors (IAIS).
More information is available at:
http://ec.europa.eu/internal_market/insurance/solvency_en.htm

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Single Euro Payments Area





More details ECB

SEPA (Single Euro Payments Area) MIGRATION AGENDA




At the SEPA Summit held in Frankfurt earlier this month, under players in the European banking industry discussed progress made so far and their outlook and concerns on further development of SEPA. This feature highlights the main views and opinions raised at the Summit from the banking industry, corporates, retailers and public authorities. Read on ...

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CORPORATE GOVERNANCE IN BELGIUM


A new French version of the Belgian Corporate Governance Code has been published.