Editor, Global Regulatory Briefing
Randall's Feed
Jun 29, 2010
via Financial Regulatory Forum

SNAP ANALYSIS-ECB’s Wellink vulnerable after report on DSB bank failure

By Ben Berkowitz

AMSTERDAM, June 29 (Reuters) – A scathing report on the failure of Dutch bank DSB is likely to revive calls for European Central Bank governing council member Nout Wellink to step down early from some or all of his roles.

Wellink, who is also the president of the Dutch central bank (DNB) and chairman of the Basel Committee of global central bankers, is not criticised directly in the report.

Jun 27, 2010
via Financial Regulatory Forum

Final text of Wall Street reform bill is posted by U.S. Congress

The House of Representatives Financial Services Committee has posted the text of the the Wall Street regulation overhaul agreed by U.S. House of Representatives and Senate negotiators on Friday. The bill is headed toward final congressional approval next week although implementation will be bogged down for months in regulatory rule-making.

Jun 25, 2010
via Financial Regulatory Forum

FACTBOX-Winners and losers in the U.S. financial bill

WASHINGTON, June 25 (Reuters) – U.S. lawmakers are close to finalizing legislation that will overhaul the country’s financial system and usher in new rules for Wall Street.

A joint House of Representatives and Senate committee approved a bank regulation bill that lawmakers expect to pass each chamber separately in the coming days. It will then be ready for U.S. President Barack Obama to sign into law, possibly by July 4.

Jun 25, 2010
via Financial Regulatory Forum

FED FOCUS-With broader powers, Fed to face greater scrutiny

By Pedro Nicolaci da Costa

WASHINGTON, June 25 (Reuters) – As officials at the Federal Reserve may soon discover, more isn’t always better.

On the face it, the results of the landmark regulatory reform bill finalized on Friday should have policymakers at the U.S. central bank running victory laps around Congress.

Jun 21, 2010
via Financial Regulatory Forum

FACTBOX-State of play on global bank levies pre-UK budget

June 21 (Reuters) – British Finance Minister George Osborne will unveil plans for an extra tax on banks to pay for bailouts on Tuesday as part of a budget expected to be the most austere in 30 years.

He has said the tax will be introduced regardless of whether other countries follow suit. The following is the state of play of plans elsewhere in the world to shield taxpayers from having to shore up banks again.

May 28, 2010
via Financial Regulatory Forum

ANALYSIS-Frustrated EU carbon traders play waiting game

By Michael Szabo

COLOGNE, Germany May 28 (Reuters) – Major changes proposed to the European Union’s emissions market could dramatically alter the landscape for traders, who are increasingly frustrated by regulatory uncertainty and political stalemate.

A deeper 2020 EU greenhouse gas reduction commitment, qualitative and quantitative restrictions on carbon offset eligibility and details on carbon permit auctioning in the scheme’s third phase are among the decisions expected to be made this year by the 27-nation bloc’s executive.

May 28, 2010
via Financial Regulatory Forum

ANALYSIS-South Korea steps nearer to controlling currency risks

By Jonathan Thatcher

SEOUL, May 28 (Reuters) – South Korea looks increasingly close to imposing some form of foreign exchange controls, albeit relatively moderate ones, to try to stop gyrations in the won and end the constant risk of sudden capital flight.

The issue has been on the boil for months, but the won’s dive this week on a mix of the euro zone tremors and North Korea’s war-like rhetoric, appears to be persuading policy makers they must do something, though the turbulence makes the timing tricky.

May 28, 2010
via Financial Regulatory Forum

ANALYSIS-Markets fret, but chance of big bank crash slim

By Steve Slater and Alex Chambers

LONDON, May 28 (Reuters) – This week’s market jitters that banks were heading back to the darkest days of 2008 look overdone because lenders have vastly improved their assets and central banks stand ready with abundant funding.

Bank of Spain’s bailout of a small regional bank has brought back the spectre of another systemic crash after the demise of Lehman Brothers in 2008, this time on concerns about the financial sector in the euro-zone’s periphery.

May 26, 2010
via Financial Regulatory Forum

ANALYSIS-Tougher Hong Kong securities regulator risks being defanged

By Don Durfee

HONG KONG, May 26 (Reuters) – Wavering political intent and possible changes at the helm of the securities regulator may dent Hong Kong’s recently won reputation as a tough enforcement regime and undermine its place as a prominent financial centre.

Once famous for its anything-goes approach to capitalism, Hong Kong’s sometimes unruly stock market has turned downright sober in the past two years under a crackdown on insider trading and other market misdeeds.

May 26, 2010
via Financial Regulatory Forum

ANALYSIS-Global rich want trusts, Swiss banks stay wary

By Chris Vellacott and Lisa Jucca

ZURICH, May 26 (Reuters) – Rich bank customers are showing a growing interest in Anglo-Saxon trusts as a way to structure their wealth, but Swiss private banks are reluctant to up their offer as international pressure on tax disclosure builds.

Trusts, a legal concept born in 13th-century England to safeguard the assets of knights leaving for the Crusades, make up an estimated $5-trillion global market and are viewed by lawyers and accountants as a growth area for the heavily pressed Swiss offshore banking industry.