Financial Regulatory Forum

Who will run the European Supervisory Authorities day-to-day? (Complinet)

By Peter Elstob, Complinet

Sometimes the crudest calculations can be the most helpful. Despite official protestations, it is a fairly safe assumption that the permanent positions that have been announced so far at the three European Supervisory Authorities have effectively been shared out among member states, with some weighting for their importance as financial centres. If a slightly shakier assumption is entertained, namely that the three executive directors, whose job it will be to run the ESAs’ day-to-day operations, will be chosen on a similar basis (although perhaps with individual qualities and qualifications playing a more important part), it is possible to make some educated guesses about the nationalities, and maybe the identities, of those who will fill these important roles. (more…)

Global enforcement body may be needed for banking sector – UK regulator

By Huw Jones
LONDON, Oct 14 (Reuters) – A global body with legal powers may be needed over time to enforce the world’s new financial rules, Britain’s Financial Services Authority (FSA) said on Wednesday.

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