In the second part of a month-long series exploring key systemic risk issues from the perspective of Paul Volcker and Sir John Vickers, we take a closer look at their views on progress in fixing regulatory gaps.
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U.S. Regulatory Reform
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After months of delay, U.S. derivatives reform finally moved from back-burner status last week, when the Commodity Futures Trading Commission (CFTC) approved regulations aimed at forcing derivatives trading — and depending on the source, either a major culprit of or contributor to the financial crisis — out of the shadows. This means that many types of previously unregulated derivatives will now have to trade on open platforms. Read more
Leave a Comment Between British economist Sir John Vickers and former Federal Reserve Chair Paul Volcker, few people are more synonymous with the current debate over structural reforms of banks and reining in systemic risk. How do their approaches to reform differ? Read more
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At the recent CFA Institute Global Investment Risk Symposium, a panel of well-known experts discussed systemic risk and the current state of the industry and concluded that not all is well, yet. Read more
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Two articles on the US$6 billion London Whale trading loss saga show how the obfuscation of facts and alleged untruths played leading roles in the debacle. Read more
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Mary Jo White’s potential conflicts in serving as our next SEC chairman are now dominating the nomination discussion, focusing specifically on the revolving door between public service and private practice. Read more
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There are a number of regulatory proposals under discussion at the EU and national levels. Some proposals are specific to Europe, and some originated in the U.S. but were eagerly imported into Europe. Will they accomplish the goal of preventing another financial meltdown? Read more
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Have you seen Senator Elizabeth Warren’s recent grilling of the heads of the Securities and Exchange Commission, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Commission, and others posted on YouTube? Read more
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