Tuesday, July 13th, 2010
I attended a briefing this morning convened by the International Capital Market Association (ICMA) to unveil their grandly titled Whitepaper on the operation of the European repo market, the role of short selling, the problem of settlement failures and the need for reform of the market infrastructure. Governed by Godfried De Vidts, chair ...
Posted in Regulation, post-crunch reform | No Comments »
Monday, May 17th, 2010
With the Liberal Democrat MP Vince Cable now ensconced in the coalition government with the Conservative party as Business minister, with special responsibility for the banking sector, how long does the bonus culture in the City of London have left? The Cable guy famously promised to do away with the excessive ...
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Monday, January 25th, 2010
The American President, Barack Obama is proposing major new curbs on the activities of banks to try to prevent future financial crises. He intends to restrict the size of banks and limit riskier trading practices by re-instating a modernised version of the famous Glass-Steagall Act from the 1930s that separated ...
Posted in General, Regulation, post-crunch reform | No Comments »
Monday, December 7th, 2009
Speculation is rife at the moment that the UK banking industry is facing a multi-billion pound windfall tax this Wednesday when the Chancellor, Alastair Darling, unveils his pre-Budget report (PBR). The move is thought to be in response to the recent row between the government and the directors of RBS who ...
Posted in Regulation, post-crunch reform | No Comments »
Tuesday, November 17th, 2009
UK banks should pay a 10 per cent tax on profits as a quid pro quo for the support they have received from the taxpayer, the Liberal Democrats have said. Speaking to the BBC, their treasury spokesperson, Vince Cable, said banks should face the penalty because their businesses have been ...
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Monday, November 9th, 2009
Gordon Brown came out as a supporter of the famous 'Tobin Tax' over the weekend, which proposes that all financial transactions be taxed a certain percentage to raise money for governments and social projects. Named after the US economist James Tobin the idea has been around for almost 30 years ...
Posted in G20, Regulation | No Comments »
Tuesday, October 27th, 2009
I attended a clubbable FS event last night at the Lloyds of London building where the shadow chancellor for the Liberal Democrats, Dr Vincent Cable, one of the few figures to have actually enhanced his reputation following the financial meltdown of last year, gave a presentation entitled The New World ...
Posted in G20, Regulation, post-crunch reform | No Comments »
Thursday, October 22nd, 2009
Home owners will have to pass a mortgage affordability test in future from lenders says the Financial Services Authority (FSA) in its Mortgage Market Review discussion paper, which sets out proposals for the future regulation of the sector after the housing crash and banking crisis of the last 18 months. ...
Posted in Mortgages, Regulation | No Comments »
Thursday, October 22nd, 2009
The Financial Services Authority (FSA) has published its final rules on the liquidity requirements expected of firms in the future. The far-reaching overhaul, designed to enhance firms’ liquidity risk management practices, is based on the lessons learned since the start of the credit crisis in 2007. The new rules, published ...
Posted in Regulation, Wholesale banking, retail banking, technology | No Comments »
Thursday, September 24th, 2009
Ahead of the G20 meeting in Pittsburgh, USA, it is probably wise to look back at the mistakes that were made during the banking crisis last year before trying to beef up some of those nebulous 'commitments' that were made at the last such meeting in London in April to ...
Posted in G20, Regulation | No Comments »
