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The Dodd-Frank Wall Street Reform and consumer protection Act. November 2010.
The Dodd-Frank Wall Street Reform and Consumer Protection Act (owes its name to representative Barney Frank and senator Chris Dodd), which was signed into law by president Barack Obama on July 21, 2010, accomplishes the deepest financial reform ever covering almost every aspect of the financial services industry as a response to the worst financial…
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FSB: Principles to reduce reliance on Credit Rating Agencies ratings. November 2010.
The Financial Stability Board (FSB) has published a report that contains principles whose goal is, to reduce the excessive -almost mechanistic- reliance on credit rating agencies (CRA) ratings of Banks, other financial institutions and markets in general. It also pretends to incentivise improvements in independent risk assessment and due diligence capacity, aiming to avoid the…
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Towards an enhanced credit rating agencies supervision in the European Union. July 2010.
The European Commission has put forward, on 2 june 2010, a proposal for a Regulation of the European Parliament and of the Council on amending Regulation 1060/2009, on credit rating agencies. This proposal (also was presented at the G-20 Summit in Toronto on 26-27 2010) will now pass to the European Council of Ministers and…
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Common definition of european money market funds. July 2010.
Some money market funds experienced difficulties in 2008 due to their holdings of certain highly rated asset-backed securities which were downgraded by the relevant rating agencies and which showed a poor level of liquidity. In September 2008, significant levels of redemption activity were witnessed following the Lehman Brothers failure, the general unease in the money…
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SEC: Recent microstructure markets regulatory actions. July 2010.
Since September 2009 the US SEC has been involved in adjusting the microstructure of the US markets. Several hinges have needed refurbishment. The US markets, in any product: equities, bonds, derivatives, have been the first markets in the world that have been subjected to a fierce competition among trading venues. As a result of that…
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Revision and new core Principles. July 2010.
The International Organisation of Securities Commissions (IOSCO) has published 18 new Principles on cross-boarder supervisory cooperation. The release of these principles is due to the growing need to strengthen supervisory and monitoring cooperation of different parties in the markets that perform and carry out cross-boarder activities. IOSCO has released principles regarding some of these, both…
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Principles on cross-border supervisory cooperation. July 2010.
The International Organisation of Securities Commissions (IOSCO) has published 18 new Principles on cross-boarder supervisory cooperation. The release of these principles is due to the growing need to strengthen supervisory and monitoring cooperation of different parties in the markets that perform and carry out cross-boarder activities. IOSCO has released principles regarding some of these, both…
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Joint Forum: Revisión de la diferente naturaleza y ámbito de la regulación financiera. Marzo 2010
The Joint Forum (JF), an organisation composed of supervisors from the three financial sectors and under the auspicious of IOSCO, BSBC and IAIS, published the document Different Natures and Scope of Financial Regulation on 9 January 2010. This is the first published document under the G20 requirement about the aforementioned subject. The G20 in April…
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Towards a new supervisory architecture. March 2010
The financial crisis has shown serious flaws in financial supervision: prevention and management of the crisis, cooperation, coordination, and coherence amongst supervisors. In November 2008 the Chair of the European Commission set up a group chaired by Jacques Larosière with the aim of assessing and proposing a new model of financial supervision in Europe. The…
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IOSCO Document on regulation of short selling. March 2010.
The IOSCO Technical committee set up a task force to come up with some principles for the regulation of short selling. IOSCO aim was to give a quick answer to society’s concerns about the impact of short selling in the securities markets at times of high volatility. This working group, called Short Selling Task Force,…
