Newsletter Feb 2006: Bankers launch initiative to open regulatory dialogue

WASHINGTON – A major initiative aimed at putting bank regulation on a new footing is to be launched in March by the Institute of International Finance (IIF), which represents some 340 banks and investment firms around the world. An IIF Special Committee, co-chaired by Peter Wuffli, group chief executive at UBS, and George Mathewson, chairman of the Royal Bank of Scotland, has for some weeks been preparing a report setting out the principles of regulation that could provide the future basis of an understanding between banks and regulators.