The U.S. has lost the regulatory high ground. The rest of the world is embracing Basel III. We can no longer afford to go it alone and assume the world will follow.
Financial services can actively contribute to making people's lives better and deliver profits for providers. The Compass Principles provide a roadmap for answering the question, "How?"
Three leading global financial organizations have sanctioned the concept of a "legal entity identifier," a standard code for every corporate and institutional market participant.
Why on earth we would continue to extend programs intended to protect banks and hence their depositors to any entity that substantially engages in issuing and dealing in securities?
UBS CEO Oswald Grübel reacted to the bank's "rogue" trader scandal in the same way as another European former bank chairman did when faced with a similar scandal a few years ago: Defiantly.
Dodd-Frank will prove hugely expensive and still fail in its main mission of preventing the next financial crisis. Blame Washington and its flawed assumption that it can micro-manage the banking system.
