Committee Submits Comment Letter To Board of Governors of the Federal Reserve System
April 26, 2013CAMBRIDGE, Mass., April 25, 2013 —The Committee on Capital Markets Regulation yesterday submitted a comment letter to the Federal Reserve regarding its proposed rule that would, among other things, require foreign banks with U.S. operations to “ring-fence” additional capital and liquid assets in the United States, in large part at U.S.
CCMR Statistical Release: Public Settlements and Regulatory Penalties Increase Significantly in 2012 and 2013
March 15, 2013CAMBRIDGE, March 7, 2013—Data released today by the Committee on Capital Markets Regulation reveal a dramatic jump in public settlements and regulatory penalties imposed on financial institutions in 2012 and 2013, and the liability of financial institutions may grow further in the wake of the recent LIBOR manipulation scandal. The
Stamping Nonbanks ‘SIFI’ Is Harmful and Needless
February 22, 2013American Banker By Hal S. Scott The Financial Stability Oversight Council is about to decide which nonbanks with assets of $50 billion or more to designate as systemically important. It should use this authority extremely sparingly because it is based on the flawed premise of connectedness. The Lehman Brothers failure
CCMR Submits Comment Letters To Financial Stability Oversight Council
February 21, 2013CAMBRIDGE, Mass., February 15, 2013—The Committee on Capital Markets Regulation today submitted two comment letters to the Financial Stability Oversight Council (“FSOC”). The first letter argues that certain financial institutions, including asset managers and traditional insurers, should not be designated as “non-bank systemically important financial institutions,” or “non-bank SIFIs,” because
Committee Study Shows Continued Competitive Weakness in U.S. Capital Markets
February 21, 2013CAMBRIDGE, Mass., February 14, 2013—The Committee on Capital Markets Regulation today released U.S. competitiveness data for 2012. U.S. capital market competitiveness remained weak in 2012 with many competitiveness measures suffering declines from the previous year. Hal S. Scott, Director of the Committee, said, “The data indicate that, when raising capital