Latest articles from Simon Turmaine

Newsletter Jul/Aug 2009: Industry delivers global standards to FSB

The first draft of a global best practices code for hedge funds, drawn up by the industry itself, in Europe and the US, was sent to the Basel-based Financial Stability Board (FSB) in Basle in mid June. The FSB is coordinating the international policy response to the two-year old financial crisis, and is charged with, in effect, approving and monitoring global standards that help underpin financial stability.

Newsletter Jul/Aug 2009: Cross-border fear roused by US commodity curbs

Attempts to rein in energy markets rouse extra-territoriality concerns, but blaming speculators is popular everywhere

Newsletter Jul/Aug 2009: Tackling the incurred loss puzzle

Differences between regulators and standard-setters could be narrowed using more forward-looking information, says a key report. But there is no early resolution in sight

Newsletter Jul/Aug 2009: Political pressure on rule-makers must stop

Alarmed at the political pressure put on accounting standard-setters to change inconvenient rules as a result of the global financial crisis, the Financial Crisis Advisory Group recommends in particular that the International Accounting Standards Board (IASB) must have permanent funding.

Newsletter Jul/Aug 2009: Mark-to-funding may be the answer

A so-called mark-to-funding accounting approach would better reflect the prudential interest of financial firms, says a June report* on financial regulation by the Geneva-based think-tank, the International Centre for Monetary and Banking Studies.

Newsletter Jul/Aug 2009: Insurance regs reform raises legal questions

US proposals for a new Office of National Insurance leave regulation vague and silent on key aspects of reform

Newsletter Jul/Aug 2009: International issues could end state regulation

A federal insurance information office, such as that embodied in the Obama administration’s Office of National Insurance (ONI), could prove a back-door approach to dismantling America’s state-based system of insurance regulation, Professor Martin Grace told the Senate banking committee.

Email News Service July 09: Systemic risk law sent to Congress as bankers urge consistent global approach

WASHINGTON, July 22 (Global Risk Regulator) – As the US administration today sent legislation to Congress that would create a systemic risk regulator for the nation’s financial sector, leading global banks are expected tomorrow to urge the need for consistent international approaches if global efforts to reform regulation aren’t to fragment.

Email News Service July 09: GRR news round-up: Review starts as French warn over OTC derivatives; UK Conservatives would abolish FSA; Fair value rev...

LONDON, July 20 (Global Risk Regulator) – A round-up of some recent international regulatory news follows:

Email News Service July 09: Basel sets new capital rules for bank trading books

BASEL, Switzerland, July 13 (Global Risk Regulator) – Global banking regulators today issued the final version of new rules that will oblige banks to set aside more capital to guard against risks in their trading books from end-2010.