Financial Regulatory Forum

FACTBOX-UK fleshes out financial supervisory shake up

July 26 (Reuters) – Britain detailed on Monday how its new financial supervisory regime will work from 2012 in a move that scraps the Financial Services Authority and turns the Bank of England into one of the most powerful central banks in the world.

Supervisors will be required to intervene more in day-to-day operations of banks, insurers and markets to nip risks in the bud before they destabilise the broader financial system.

The reform abolishes the discredited “tripartite” system of the FSA, the government and the Bank of England working together to supervise Europe’s biggest money centre.


Ireland taps Bermuda for financial watchdog chief

IRELAND/ DUBLIN, Oct 19 (Reuters) – Ireland has picked Matthew Elderfield, chief executive of the Bermuda Monetary Authority (BMA), as the new head of financial supervision at the Central Bank of Ireland, Governor Patrick Honohan said on Monday.

Japan taps ex-police official for bank minister – report

Shizuka Kamei, acting party leader of People's New Party, speaks at the Foreign Correspondents' Club of Japan in Tokyo August 17, 2009. REUTERS/Yuriko Nakao TOKYO, Sept 15 (Reuters) – Japan’s incoming government has picked a 72-year-old veteran politician and former police official to take charge of financial supervision in the world’s second-largest economy, public broadcaster NHK said on Tuesday.