The Federation of Small Businesses (FSB) and the British Bankers’ Association have identified five steps you can take to ensure your business loan application has the greatest chance for success. 1. Develop a robust business plan – Your business plan is crucial to demonstrate the businesses financials, showing that you […]
Read MorePost Tagged with: "Banking Reform"
The banking reform Bill will be a missed opportunity if it does not support community banking
The second reading of the Financial Services (Banking Reform) Bill is today. This is the main debate on the principle of the Bill. It was previously provisionally scheduled for last Monday. I have found myself assigned to statutory instrument committees on both occasions, potentially preventing me from speaking in the […]
Read MoreThe Government should now adopt my bill on bank accounting
Accounting seems so dreary but what if broken rules allow banks to show false profits, overstate capital and hide losses? What if the banks have paid bonuses out of unrealised gains? The Bill I introduced in March 2011 deals with just those problems. All the details are here. I learnt […]
Read MoreIn the House today: Financial Services and Prudential Requirements
This afternoon an EU document relating to Financial Services and Prudential Requirements was placed before the House of Commons. It was not debated: debate took place in Committee last week. I attended, though I was not formally assigned to the Committee. The EU’s proposals amount to further European Union encroachment […]
Read MoreGovernment faces fresh questions over accounting rules | The Guardian
Further to my work on accounting: The government is facing fresh questions about whether current accounting rules are suitable for banks, amid claims that they permit the overstatement of profits and fail to provide a proper picture of losses. The issue is being raised by Lord MacGregor, chairman of the […]
Read MoreBank of England’s Haldane endorses concerns on bogus bank accounting
The Bank of England’s Executive Director Financial Stability, Andy Haldane, has set out the case for banks to be held to different accounting standards because the existing rules have may allowed banks to overstate their profits and exacerbate their losses. This is something I covered in a private members’ bill […]
Read More