Regulation
FSA chief admits failings over Northern Rock
Hector Sants, the chief executive of the Financial Services Authority (FSA) said on Tuesday that it had failed to anticipate the impact of the credit crunch on Northern Rock, a UK mortgage lender.
EU discusses regulatory response to crisis
EU finance ministers met in Luxembourg on Tuesday to consider a regulatory response to the financial crisis.
UK bankers call for global review of credit crunch
The British Bankers' Association (BBA), the trade body for the finance industry in the UK, has said that a worldwide regulatory review would help markets weather the credit crunch.
Lessons for the UK - BBA
The British Bankers' Association (BBA) has suggested a review of the recently revised money market framework and the move towards principles-based regulation.
Hedge funds need transparency, not rules
US and EU regulators remain cool on calls for further regulation of the hedge fund sector.
Regulators to cooperate on rules to combat crisis
Financial regulators from the world's leading economies are set to draft recommendations to avert global instability in response to the recent market turmoil.
German sovereign wealth rules "lean and liberal"
Germany's planned legislation to limit investment by sovereign wealth funds will allow foreign funds to buy banks, media companies and consumer industries, but not in the energy sector.
SEC and FSA chiefs to discuss hedge fund rules
Paul Atkins, the commissioner of the US Securities and Exchange Commission, and Hector Sants, the chief executive of the UK Financial Services Authority, will meet with senior hedge fund professionals to ask if funds should be regulated and to see what…
Yam hails innovation but urges caution
"The forces generated by financial innovation need to be properly harnessed," Joseph Yam, the chief executive of the Hong Kong Monetary Authority said on Monday.
Dugan to replace Witteveen at joint forum
John Dugan, the comptroller of the currency in the US, will head the Joint Forum, a group of senior financial sector regulators, following the death of Dirk Witteveen, an executive director at the Netherlands Bank, earlier this month.
IMF warns against over-regulation following crisis
Jaime Caruana, the head of capital markets at the International Monetary Fund, on Monday urged financial regulators to avoid introducing a raft of rules in reaction to recent events in global money markets.
UK head regulator: borrowing rules should change
Sir Callum McCarthy, the chairman of the Financial Services Authority (FSA) - the UK's financial watchdog, has said the authorities should alter banking regulation in light of the problems faced by Northern Rock.
Croatia allows German bank to operate again
Croatia's central bank has given permission for Bayerische Landesbank (BayernLB) to operate in the country again.
Turmoil prompts supervision recommendations
New rules for conduits, special purpose vehicles (SPVs) and rating agencies must be introduced to stop another subprime crisis, according to several shadow financial regulatory committees. The Basel II framework must also be reassessed because of its…
Sarkozy and Merkel call for more transparency
Nicolas Sarkozy, the French president, and Angela Merkel, the German chancellor, said on Monday that hedge funds and rating agencies must face greater scrutiny.
A case for hedge fund regulation
The unique nature of hedge funds could lead to market failures that counterparty credit risk management (CCRM) practices cannot easily assess, according to an article published by the New York Federal Reserve.
Pakistan banking supervision move
The government of Pakistan is planning to take banking supervision away from the central bank and bring banks under the regulatory control of the Securities and Exchange Commission of Pakistan (SECP) through new legislation, the 'Financial Market…
RBI profits soar
The Reserve Bank of India (RBI) has recorded growth of 182% in gross total income to Rs 75,348 crore ($18.4 billion) during 2006-07 from Rs 26,320 crore last year on the back of the sale of State Bank of India (SBI) shares.
New framework for supervision in Nigeria
The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) intend to introduce a comprehensive framework for banking supervision and have sent a draft to banks asking for their comments.
Thailand to hold risk management event
The Bank of Thailand said on Monday that this year's research event will cover 'Managing Financial Risks for the Coming Decade'.
Ryback moves to Korean regulator
William Ryback, the former deputy chief executive of the Hong Kong Monetary Authority, is to join the Financial Supervisory Service (FSS), Korea's market regulator.
Kyrgyz Republic - 2006 Annual Report
Financial supervision in the Krygyz Republic developed in 2006 as the central bank continued its implementation of the core principles of the Basel Committee for Banking Supervision.
Role of regulator is changing - Sri Lankan deputy
Ranee Jayamaha, the deputy governor of the Central Bank of Sri Lanka, has said that regulators should take a more principles-based and risk focused approach towards rule making.
HKMA applauds move to free up mainland markets
Joseph Yam, the chief executive of the Hong Kong Monetary Authority (HKMA), has said he welcomes a pilot scheme that will allow investors from mainland China to invest directly in Hong Kong securities.