CAMBRIDGE, May 6, 2013—Financial penalties imposed on financial institutions by government agencies totalled $21.8 billion in the first quarter of 2013, an amount representing more than two-thirds of the total financial penalties imposed in all of 2012, according to data released today by the Committee on Capital Markets Regulation.
CAMBRIDGE, 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 2013March 15, 2013
CAMBRIDGE, 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
American 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
CAMBRIDGE, 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