The European Commission has kicked off a consultation on far-reaching changes to the Capital Requirements Directive that include tougher standards on capital and liquidity and measures to reign in leverage.
The demands facing banks investing in structured finance products under the European Commission's revised Capital Requirements Directive remain unclear, according to Rachel Kelly, partner at Clifford Chance.
Structured products are not suitable assets to place into liquidity buffers required under planned European Commission regulations, according to Kai Spitzer, policy coordinator at the Commission.
The Organization for Economic Cooperation and Development has released a series of good practices aimed at encouraging companies and regulators to follow its principles on corporate governance in response to the financial meltdown.
The International Organization of Securities Commissions has issued disclosure principles for firms listed on securities exchanges in which retail investors participate.
The International Accounting Standards Board has issued a working draft of a proposed International Financial Reporting Standard dealing with liabilities such as those stemming from litigation, asset retirement obligations and restructurings.
A coalition of trade groups has issued new guidance for firms regarding securitization disclosure requirements.
Regulatory think-tank JWG wants closer collaboration between regulators, lawmakers and financial institutions in developing standards for reference data management.
The International Capital Market Association and the International Swaps and Derivatives Association have criticized International Organization of Securities Commissions proposals for point-of-sale disclosure requirements regarding collective investment schemes.
The Association for Financial Markets in Europe has expressed concern over restricting banks' activities and ramping up capital and liquidity requirements for systemically-important firms.
The Federation of European Securities Exchanges has called for close attention to be paid to the varied forms of over-the-counter trading, such as dark pools--as the European Commission gears up to review the Markets in Financial Instruments Directive.
The European Commission wants industry professionals to form a panel on banking insolvency law to help in its consultation, launched last October, on creating an EU-wide banking crisis management regime.
The Committee of European Banking Supervisors has issued risk management principles for financial institutions and regulators.
The U.K. Financial Services Authority and H.M. Treasury want to extend the Market Abuse Directive to cover credit default swaps.
Attorneys have warned against a wholesale revamping of the U.K. Financial Services Authority, arguing that this would hamstring the regulator at a crucial time and that the FSA has not had a fair chance to succeed.
London-based industry professionals are pessimistic about the short-term chances for progress on mutual recognition pacts between international regulators, with other issues grabbing the agenda.
The Committee of European Securities Regulators has released plans to extend rules that require investors to disclose major shareholdings to instruments that have a similar economic effect to owning shares or having entitlements to buy shares.
The European Banking Federation has called for reforms of the industry being considered in the wake of the financial crisis to create a level playing field among financial institutions.