U.K. Prime Minister Gordon Brown plans to ask banks to improve financial reporting when he speaks to an audience at Goldman Sachs' London office today about the credit crisis. "This is the first crisis of this new era of globalization," Brown will say, according to excerpts of a speech released by his office. "Behind this lies the under-pricing and under-reporting of risk and off-balance-sheet activities, inadequate credit rating services," and a failure to systematically disclose write-offs.

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Bloomberg, Sky News

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