Financial Regulatory Forum

Monaco, U.S. sign tax cooperation deal

By Reuters Staff
September 9, 2009

Monaco's Prince Albert II WASHINGTON, Sept 8 (Reuters) – The tiny city-state of Monaco, once on an international black list of the tax havens, signed a deal on Tuesday to abide by international norms in exchanging information about U.S. citizens who may be evading taxes by keeping money offshore. (more…)

ANALYSIS-Fatter capital rules mean lean times for big banks

By Reuters Staff
September 8, 2009

By Kevin Drawbaugh

WASHINGTON, Sept 9 (Reuters) – Banking is supposed to be boring.

That’s the quip that lobbyists and congressional aides use, only half-jokingly, to explain what’s in store for the banking industry as governments crack down with tighter regulation.

Bankers defend bonuses as watchdogs close in

By Reuters Staff
September 8, 2009

Morgan Stanley Co-President Walid Chammah adjusts his earphone during a news conference in Toyko, March 26, 2009. REUTERS/Issei Kato By Edward Taylor
FRANKFURT, Sept 8 (Reuters) – Top bankers defended their culture of bonuses on Tuesday against an onslaught of regulation that aims to put them on a tighter leash almost a year after Lehman Brothers collapsed.   Executives from Credit Suisse Group AG, Morgan Stanley and Deutsche Bank AG said the global financial system needed reform but defended a bonus-driven system that critics say encouraged banks to take big risks.
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FDIC chief warns against single U.S. bank regulator

By Reuters Staff
September 1, 2009

Federal Deposit and Insurance Corporation (FDIC) Chairman Sheila Bair addresses the HOPE Global Financial Literacy Summit at a community center in Washington June 17, 2009.  REUTERS/Jonathan Ernst  Sept 1 (Reuters) – A single regulator for all U.S. banks is not the solution to streamline the financial regulatory system, Federal Deposit Insurance Corp Chairman Sheila Bair wrote in an opinion column in the New York Times.
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FEATURE-Ancient haven San Marino fights for banking life

By Reuters Staff
August 17, 2009

Cassa di Risparmio bank, San Marino By Deepa Babington
SAN MARINO, Aug 17 (Reuters) – San Marino has seen medieval intrigue and papal army invasions in its 1,708-year history, but a modern-day banking scandal and blitz on tax havens risks bringing the world’s oldest republic to its knees.
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Britain to unveil banking reform blueprint

By Reuters Staff
July 7, 2009

    By Christina Fincher and Huw Jones
   LONDON, July 8 (Reuters) – Britain is to set out its blueprint for beefing up financial regulation later on Wednesday in a bid to prevent a re-run of the crisis that forced it to bail out banks with billions of pounds of taxpayers’ money. (more…)

ECB official urges deadline for switch to pan-EU payments

July 6, 2009

   LONDON, July 6 (Reuters) – A deadline is needed to ensure full switchover to a single pan-EU system of bank payments and help industry and public authorities plan ahead, a top European Central Bank official said on Monday. (more…)