Latest articles from Simon Turmaine

Newsletter February 2010: Group of Seven still breathing

ILAQUIT, Canada – Reports of the death of the Group of Seven, thought by some to be yet another casualty of the global financial crisis, have proved exaggerated. But the G7 grouping of the world’s richest nations has possibly suffered a fate worse than death in diplomatic terms by relegating itself to “non-communiqué-issuing” status.

Newsletter February 2010: Settlement systems review launched

MADRID – Regulators are launching a review of existing standards for financial market infrastructures such as payment systems, securities settlement systems and central counterparties with the aim of issuing a draft paper for com

Newsletter February 2010: State regulators lash AIG-based federal argument

WASHINGTON - America’s state-based insurance supervisors rounded in late January on lawmakers seeking to use the collapse of American International Group (AIG), once the world’s largest insurer, as an argument for federal regulation.

Newsletter February 2010: Bear Stearns, Lehman show perils of pay schemes

WASHINGTON - Pay arrangements at failed US investment banks Bear Stearns and Lehman Brothers, two of the most spectacular casualties of the global financial crisis, highlight the extent to which executives had an incentive to improve short-term results at the risk of an implosion later on, research led by Harvard Law School professor Lucian Bebchuk shows.*

Newsletter February 2010: American move on IFRS still delayed

DAVOS, Switzerland - The world’s top accountants are warning that plans by the US to move to global accounting standards are vulnerable to major delays and the process could get much politicised.

Newsletter February 2010: Curbs on energy trading – tougher than expected

America’s plans to restrict speculation put banks on the spot. Even regulators have doubts about imposing limits

Newsletter February 2010: Doubt over banks' efforts to tame bonus culture

Banker pay remains in the spotlight - a toxic political issue and a knotty problem for regulators. Little sign of real change

Newsletter February 2010: Supervisors face challenge in assessing pay reform

Banking supervisors trying to assess bank pay policies face a near-term practical challenge in that as firms take steps now to reform their practices, actual changes will be completed over time, according to the Basel Committee of global banking regulators.

Newsletter February 2010: Why banks need to be treated differently to everybody else

Britain’s Adair Turner reviews accounting dilemmas,urging a limit to the use of fair value and proposing a solution to ‘expected loss’ quandary. Regulators, accountants, industry divided By David Keefe

Newsletter February 2010: Regulatory regime change – reform consensus cracking

As the flow of new rules gathers pace, splits are emerging among bankers and G20. Rising concern over coordination breakdowns By Melvyn Westlake