BY ANDREW ACKERMAN AND LIZ MOYER
WASHINGTON?In the latest sign of unease about how hard Europe's sovereign-debt crisis might hit U.S. financial firms, securities regulators prodded banks to take a more rigorous approach to disclosing their European exposure.
The Securities and Exchange Commission warned that disclosures made by publicly traded financial institutions have been "inconsistent in both substance and presentation," according to guidance the agency released on Friday, a week before large banks are due to begin reporting fourth-quarter earnings and as they start to prepare annual financial reports.
The SEC guidance asks banks to consider providing a breakdown of their exposures in each country, divided ...
BY ANDREW ACKERMAN AND LIZ MOYER
WASHINGTON?In the latest sign of unease about how hard Europe's sovereign-debt crisis might hit U.S. financial firms, securities regulators prodded banks to take a more rigorous approach to disclosing their European exposure.
The Securities and Exchange Commission warned that disclosures made by publicly traded financial institutions have been "inconsistent in both substance and presentation," according to guidance the agency released on Friday, a week before large banks are due to begin reporting fourth-quarter earnings and as they start to prepare annual financial reports.
The SEC guidance asks banks to consider providing a breakdown of their exposures in each country, divided ...
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