The UK House of Commons’ Treasury Select Committee has published a report on the proposed new Financial Conduct Authority, to advise the Government in preparation for the drafting and publication of the Financial Services Bill in early 2012.

The Australian Securities and Investments Commission has issued a consultation paper to “assist promoters and publishers present advertisements that are accurate and balanced and that help investors and financial consumers make decisions that are appropriate for them”.

The Financial Stability Board has published a progress report to the G-20 concerning macroprudential policy tools and frameworks.

The EC has launched a public consultation that addresses the ways in which corporate governance of European companies can be improved.

On 5 April 2011, the European Commission adopted a Green Paper and launched a wide-ranging public consultation on the EU corporate governance framework. This feedback statement presents a broad summary of responses to each of the 25 specific questions raised in the green paper.

The Ontario Securities Commission’s 2010-2011 Statement of Priorities included a commitment to review protections for shareholders’ rights and corporate governance.

The practice alert focuses on risks of misstatement due to fraud that auditors might encounter in audits of companies with operations in emerging markets, auditors’ responsibilities for addressing those risks, and certain other auditor responsibilities under PCAOB auditing standards.

The Securities and Exchange Commission has issued guidance on disclosure obligations with respect to cybersecurity risks and cyber incidents.

The Risk Oversight and Governance Board of the Canadian Institute of Chartered Accountants has developed a framework to help boards of directors fulfill their responsibility for the oversight of risk.

Hong Kong Exchanges and Clearing Limited has released a consultation paper on a proposed Environmental, Social and Governance Reporting Guide.