China has loosened currency controls to make it easier for domestic companies and individuals to set up special purpose vehicles (SPVs) overseas, according to revised rules published by the nation's foreign exchange regulator.
China is making it easier for listed companies to buy, sell or swap their assets, in order to streamline bureaucracy and encourage mergers and acquisitions, the China Securities Regulatory Commission (CSRC) has stated.
A deputy central bank governor has stated that China should allow more floundering firms to go bankrupt to help improve economic mechanisms, rather than allow them to get government-led bailouts.
Catherine Bradley has been appointed to the Financial Conduct Authority (FCA) as a Non-Executive Director.
Amyas Morse, the Comptroller and Auditor General, head of the National Audit Office, has issued a report on the 2013-14 accounts of HM Revenue & Customs. The report describes how HMRC deploys its compliance resources and measures and reports the impact of its compliance work. It also covers HMRC’s progress in operating the PAYE service and its implementation of its new Real Time Information service and its performance in tax collection and in reducing error and fraud in personal tax credits.