Latest articles from Simon Turmaine

Newsletter February 2013: South Africa – good progress; must do more

BASEL – South Africa has made good progress with its planned reforms to streamline its regulatory structure. It is also embarking on reforms to its over-the-counter derivative market. But there is more to do. Firmer timelines and a tougher approach to compliance are needed in some areas. That is broadly the verdict of Financial Stability Board (FSB) in its peer review of Africa’s largest economy, issued in early February.

Newsletter February 2013: Things aren’t quite as simple as they seem

Dog-and-frisbee debate flares up again as new bank accord takes effect. Regulators still reject back-to-basics argument

Newsletter February 2013: Revolving door quandary over nominee to head SEC

Obama’s stock market regulator choice exhibits the cosy Wall Street connections under fire in new watchdog report

Newsletter February 2013: Audit quality proves to be a very elusive concept

Companies are looking at their auditors ever more critically as regulation looms, but defining “quality” is a problem

Newsletter February 2013: Insurers reject plans for ‘shadow bank’-type rules

Firms who guaranteed toxic financial products and reckless mortgage lending say they no longer pose any systemic threat

Email news service January 2013: Basel III delays not critical, but accord may not have right balance on risk measurement, Ingves says

CAPE TOWN, South Africa, January 25 (Global Risk Regulator) - Delays in implementing new and tougher global banking rules aren’t critical at this point, although any setback to timing is undesirable, according to the world’s top banking regulator.

Newsletter January 2013: Re-think on uncleared derivative margins wanted

NEW YORK/LONDON – The initial margins that will be required in the uncleared over-the-counter derivative market under proposals issued by regulators last summer will severely impact liquidity and have profound implications for many companies and investors, according to financial industry lobby groups.

Newsletter January 2013: Regulators may modify OTC margin proposals

SAN DIEGO, CALIFORNIA – International regulators may be prepared to modify proposals requiring banks and others dealing in the uncleared over-the-counter derivative market, US Federal Reserve vice chairwoman Janet Yellen has hinted. Plans for an increasing proportion of over-the-counter (OTC) contracts to be cleared through central counterparties are moving ahead around the world. But proposed requirements for the large sector of customised and illiquid business that cannot be cleared remains highly contentious (see story on left).

Newsletter January 2013: Solvency II phase-in will be challenging

BRUSSELS – Phasing-in Europe’s delayed Solvency II regime for insurers will be legally and technically challenging, according to a leading insurance industry trade body.

Newsletter January 2013: Global trade-tagging body heads for first meeting

BASEL – The governing body of the planned global financial trade-tagging system is expected to have its first meeting at the end of January as the scheme remains on track for launch by March, according to the progress report on the project issued in December.