Publication
Supreme Court rules CFPB funding structure is lawful
The Supreme Court of the United States ruled on May 16, 2024 that the current funding structure for the Consumer Financial Protection Bureau (CFPB) is constitutional.
Global | Publication | July 21, 2017
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On July 19, 2017 the Corporate Finance Faculty of the ICAEW published a consultation paper setting out its plans to update “Prospective Financial Information: Guidance for UK Directors” published in 2003 (2003 Guidance). The 2003 Guidance sets out a framework of principles and application notes for preparing and publishing prospective financial information (PFI) in a capital markets transaction context. The definition of PFI comprises “primary financial statements and elements, extracts and summaries of such statements and financial disclosures drawn up to a date, of for a period, in the future”. As a result it includes profit forecasts and warnings, working capital statements, merger benefit statements and a range of other financial projections.
Following initial soundings on its proposals from stakeholders and market participants, the ICAEW is now seeking input on a number of proposals and consultation questions including the following:
The deadline for responses to the consultation paper is October 31, 2017. The ICAEW hopes to publish a response statement and a further public consultation on the exposure draft of the new guidance in the second quarter of 2018, with the new technical guidance for preparers of PFI, replacing the 2003 Guidance after a transition period, being available in the first quarter of 2019.
(ICAEW, Consultation paper on prospective financial information, 19.07.17)
Publication
The Supreme Court of the United States ruled on May 16, 2024 that the current funding structure for the Consumer Financial Protection Bureau (CFPB) is constitutional.
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