Peter
In
relation to Q1 - Definition of Public Accountability
Legg Mason believes both definitions fall short of
stating clearly the type of asset managers that should be included for full
scope IFRS.
In relation to Q2 - All entities that are Public
Accountability should be included as Tier 1
Legg Mason believes that a reduced disclosure regime
should apply to firms whom operate open ended funds as half yearly and annual
accounts are already provided to the share holders in this case. In
addition we believe there should be a reduced disclosure option available for
unlisted entities.
Regards
Anita Connolly
Regulatory and Business Analyst
Legg Mason & Co (UK)
Ltd,
9th Floor, 10 Exchange
Square,
Primrose St,
London EC2A 2EN
Tel: +44 207 858 2503
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