The financial regulatory landscape continues to transform but this week the news was mostly focused on the UK.
This week, Mark Hoban, MP and financial Secretary to the Treasury launched a government consultation on the implementation of financial regulatory reform. This document supports the reform proposals set out by George Osborne, the Chancellor of the Exchequer, last month where he announced the abolishment of the Financial Services Authority (FSA) and transfer most of its supervisory power to the Bank of England over the next two years.
Below is a selection of articles I’ve collected useful including some straight news articles, analysis and opinion.
Consultation Paper & Announcement
Herbert Smith has a good breakdown of the key features of the Prudential Regulation Authority, Consumer Protection and Markets Agency and Financial Policy Committee.
Herbert Smith – table of PRA, CPMA
In the US, the SEC announced its rule making procedures following the signing the Dodd-Frank Wall Street Reform and Consumer Protection Act into law.
CFTC announced some thing similar last week:
CFTC Releases List of Areas of Rulemaking for OTC Derivatives
Basel News – Liquidity Reform:
BBA statement regarding Basel Committee’s capital and liquidity reforms
Don’t forget to check out DerivSource’s regulation news section for ongoing news in this area.
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