FT News Briefing A French presidential election rematch
Apr 11, 2022
The French presidential election is heating up as Emmanuel Macron faces off against Marine Le Pen in a rematch. Public dissatisfaction with Macron's handling of the Ukraine war bolsters Le Pen's campaign. Meanwhile, the 1MDB scandal exposes serious flaws in financial oversight, prompting calls for stronger regulations on Wall Street. On another front, China is adapting to new U.S. compliance laws, reshaping its audit secrecy to prevent the delisting of companies. The podcast dives deep into these critical political and financial tensions.
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French Election Rematch
- The French presidential election is heading for a rematch between Macron and Le Pen.
- Le Pen is optimistic about her chances, believing she can rally those who dislike Macron.
1MDB Trial Verdict
- Ex-Goldman Sachs banker Roger Ng faces up to 30 years in prison after being found guilty in the 1MDB scandal.
- This win for the DOJ highlights gaps in financial entities' internal processes regarding accepting deals.
China's Concession
- China revised its laws on financial disclosure to prevent delisting of Chinese companies from US exchanges.
- This concession aims to address US regulators' concerns about transparency, but full compliance remains uncertain.