Financial Regulation Weekly Bulletin

Headlines of the bulletin include:

General

• FSB peer review on risk disclosure practices
• Controllers regime and ‘acting in concert’ - Law Society & City of London Law Society response to FSA consultation
• US Dodd-Frank Act passed

Banks

• Countercyclical capital buffer - Basel Committee consultation paper and progress on regulatory reform package generally
• Resolution of cross-border banks - IMF staff working paper
• EU-wide stress testing - Timing of publication of results

Insurance

• Equitable Life - Final Report of Sir John Chadwick, introduction of Equitable Life (Payments) Bill and establishment of Independent Commission

Asset Management

• UCITS IV - Four CESR consultation papers on key investor information document

Securities and Markets

• OTC derivatives - Two CESR consultations and various responses to consultation

Financial Crime

• Terrorist Asset-Freezing Bill introduced
• Bribery Act 2010 - Implementation delayed and Transparency International publishes guidance for businesses on adequate procedures

Enforcement

• FSA fines father and son for market abuse
• Operators of an unauthorised collective investment scheme - FSA secures £3.7 million in compensation

Elizabeth Prentice (professional support lawyer)