Newsletter November 2011: Plans to strengthen ‘shadow banking’ regs outlined

BASEL – Plans for the effective monitoring of the $60 trillion global “shadow banking” sector were outlined by the Basel-based Financial Stability Board (FSB) in late October, in a further move to strengthen oversight and regulation of the sector. The FSB, which leads and coordinates the international regulatory reform effort, was instructed by leaders of the Group of 20 most powerful economies at their Seoul summit a year ago to work out the best way of bringing shadow banking within the regulatory net.