International Financial Reporting Standards (IFRS)
A single set of high quality, understandable and enforceable global standards. The requirements for all listed groups in the EU to apply IFRS by 2005 follows the global trend for enterprises to report under IFRS.
Sarbanes Oxley
Created to oversee financial reporting, its purpose is to review audit requirements and to protect investors by improving the accuracy and reliability of corporate disclosures. It also significantly tightens accountability standards to assist senior management.
Basel II
International standards for measuring the adequacy of a bank's capital, it was created to promote greater consistency in the way firms and banking regulators approach risk management across international borders.
International Accounting Standards
A set of international accounting and reporting regulations, that is set to standardise company financial information, improve the transparency of accounting, and ensure that investors receive more accurate and consistent reports. Often used in conjunction with local GAAPs (UK GAAP, US GAAP, German HGB, etc).
Markets in Financial Instruments Directive
Part of the EU's Financial Services Action Plan, MiFID replaces the previous Investment Services Directive and introduces new and more extensive requirements for firms, in particular in relation to their conduct of business and internal organisation.
Anti-Money Laundering
A set of procedures, laws and regulations designed to stop the practice of generating income through illegal actions.