Financial Regulatory Forum

SocGen scandal prompts EU bank watchdog crackdown

By Reuters Staff
December 21, 2009

LONDON, Dec 21 (Reuters) – European Union bank supervisors unveiled draft guidelines on Monday to apply lessons from a trading scandal that forced Societe Generale to book billions of euros in losses.

Britain’s financial reform faces carve-up threat

By Reuters Staff
November 18, 2009

Britain's Prime Minister Gordon Brown (L) and Leader of the opposition Conservative Party David Cameron walk through the Members' Lobby of the Houses of Parliament before the State Opening of Parliament, in central London November 18, 2009.      REUTERS/Dominic Lipinski/Pool    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.
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Banker pay curbs, clawbacks sought at G20 summit

By Reuters Staff
September 25, 2009

France's President Nicolas Sarkozy and his wife Carla Bruni-Sarkozy arrive at the Phipps Conservatory for an opening reception and working dinner for heads of delegation at the Pittsburgh G20 Summit in Pittsburgh, Pennsylvania, September 24, 2009.     REUTERS/Philippe Wojazer (UNITED STATES POLITICS BUSINESS) 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…)

UK says “living wills” to drive bank restructurings

By Reuters Staff
September 18, 2009

British Financial Services Minister Paul Myners (file) By Huw Jones
LONDON, Sept 18 (Reuters) – Mandatory “living wills” for banks in Britain will spark major restructuring in the sector in the next few years, a UK minister said on Friday.

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) РTop 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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G20 aims at bank pay and capital; stimulus to stay

By Reuters Staff
September 5, 2009

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.

INTERVIEW – France sees G20 shifting its way on financial regulation

By Reuters Staff
September 1, 2009

France's Economy Minister Christine Lagarde is seen during an interview with Reuters at the Economy Ministry in Paris September 1, 2009.  REUTERS/Charles Platiau 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.