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...concluded, appeared best suited to serving the industry. (For companies operating in the U.S. and much of Europe, no such single body exists.) The fsa's remit: working with firms to pinpoint potential risks long before things go wrong, rather than simply prescribing rules. While the U.K. watchdog listens, suggest industry representatives, U.S. regulators prefer to bark. The U.S. Sarbanes-Oxley Act, a 2002 response to the accounting scandals that toppled Enron and WorldCom, was intended to stiffen standards of corporate governance in public firms. In reality, the cumbersome auditing requirements - not to mention the cost and time involved...

Author: /time Magazine | Title: The New Capital of Capital | 1/31/2007 | See Source »

...from the sky and the ground, in snow and in bloom. There is formidable Chambord, which may have been planned by Leonardo da Vinci, and delicate Azay-le-Rideau, the creation of a banker who went too far when he mixed state money with his own. The aerial exposures suggest that some of the châteaux were designed for the eyes of god: the intricate geometry of the Renaissance gardens at Villandry can be fully appreciated only from aloft...

Author: /time Magazine | Title: Pleasures for the Holidays | 1/26/2007 | See Source »

...Raphael. But the focus is on Michelangelo, whose preference for bright colors is coming to light as restorers clean centuries of candle soot, grime and varnish from his frescoes. Only the lunettes above the chapel windows are finished so far, but their dazzling colors, photographed by Takashi Okamura, suggest the hue of things to come...

Author: /time Magazine | Title: Pleasures for the Holidays | 1/26/2007 | See Source »

...nuclear programs. American diplomats no longer even talk of North Korea's highly enriched-uranium program, whose public exposure by State Department officials in 2002 triggered the ongoing proliferation drama. Since North Korean officials now insist they've never had such a program, it would be undiplomatic to suggest otherwise...

Author: /time Magazine | Title: Viewpoint: Talking Only Makes it Worse | 1/25/2007 | See Source »

...TIME: Since the Conservative Party last held power in 1997, three men have led the party before you. A year into the job, the polls suggest you are enjoying more success than your predecessors...

Author: /time Magazine | Title: Q & A with David Cameron: Why Britain Needs a 'Compassionate Conservative' | 1/24/2007 | See Source »

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