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Bischoff Report sets out vision for UK financial services sector
UK’s regulators should take a lead on what is appropriate for the industry, the report demands. “We expect and encourage better regulation”, Sir Bischoff said in the opening remarks. “But not everything is broken”, he added.
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ECB Papademos outlines key requirements for Systemic Risk Council
Close co-operation and well-functioning information-sharing mechanisms between the new Council, national micro-prudential supervisors and the proposed European System of Financial Supervision will be indispensable, Papademos said.
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IFSL City Indicators Bulletin - May 2009
London has been deeply affected by the crisis with some firms and markets undergoing major restructuring. The expectation is that the pace of decline of business in financial services would moderate considerably in the second quarter.
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TowerGroup research highlights strategic impact of regulatory changes
The report identifies 10 major regulatory initiatives facing the U.S. securities and investments industry. The new regulatory structure and set of rules will cause strategic shifts in the industry, the report argues.
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Bernanke sees recovery ahead
Conditions in a number of financial markets have improved in recent weeks, reflecting in part the somewhat more encouraging economic data, Bernanke said. However, financial markets and financial institutions remain under considerable stress.
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FDIC newsletter on risk management of investments in structured credit products
The letter reiterates and clarifies existing supervisory guidance on the purchase and holding of complex structured credit products. It focuses on the various supervisory concerns related to these securities.
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EU-Japan summit confirmed co-operation in financial services
Leaders reaffirmed their commitment to implement the decisions taken at the G20 Summit in London and to strengthen supervision and regulation. Japan also expressed its support for inclusion of a specific certification regime for smaller non-EU CRAs.
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