By Susannah Hammond, Thomson Reuters’ regulatory intelligence team. The views expressed are her own
Financial Regulatory Forum
LONDON, Nov 18 (Reuters) – Britain’s opposition Conservative Party said it would ditch the core of a financial sector reform bill if it wins power next year, but lawyers expect other parts such as curbs on bankers’ pay would be introduced.
By Kevin Drawbaugh and David Ljunggren
PITTSBURGH, Sept 24 (Reuters) – World leaders at the G20 meeting on Thursday closed in on a statement calling for new restraints on banker pay, an issue that became inflammatory during the global financial crisis, but would not endorse specific monetary caps — a deal-breaker for the United States. (more…)
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.
By Sumeet Desai and Louise Egan
LONDON (Reuters) – G20 finance leaders on Saturday took aim at excessive bank pay and risk-taking at the root of the financial crisis and insisted trillions of dollars of emergency economic supports would be needed for some time.
By Anna Willard
PARIS, Sept 1 (Reuters) – France is optimistic about upcoming G20 meetings because many leaders, including British Prime Minister Gordon Brown, have moved closer to the French position, Economy Minister Christine Lagarde said.