What the changing regulatory landscape means for you Thursday 16 April 2009.

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Presentation transcript:

What the changing regulatory landscape means for you Thursday 16 April 2009

Get Your Barings! Where to Now? More v. better regulation What now for Basel and MiFID? The roles of the Treasury, Bank of England and FSA The Turner Report The De Larosiere Report International regulator? Principles based regulation v. outcomes based regulation

The Changing Regulatory Landscape – The Markets and Products The Markets The Products Principal Trading OTC Derivatives Structured Products Securitization Money Market Funds Hedge Funds Private Equity Exchanges MTFs/Dark Pools Derivatives Clearing Short Selling Transparent Credit Crisis

What the Changing Regulatory Landscape means for you? Capital and liquidity ─ FSA’s Liquidity proposals ─ Liquidity standards ─ Liquidity buffers ─ Impact on ICAAPs ─ Stress testing ─ Changes in accounting rules ─ Rainy day reserves ─ Capital buffers ─ Impact on hedge funds and private equity

What the changing regulatory landscape means for you Corporate governance & ethics - where the buck stops! Approved Persons - holding individuals to account - FSA applies the polyfiller Remuneration - a one way option – “privatise the profit, socialise the loss!” Client money - now you see it, now you don’t!

What the changing regulatory landscape means for you Thursday 16 April 2009

What the changing regulatory landscape means for you Thursday 16 April 2009

Get Your Barings! Where to Now? More v. better regulation What now for Basel and MiFID? The roles of the Treasury, Bank of England and FSA The Turner Report The De Larosiere Report International regulator? Principles based regulation v. outcomes based regulation

The Changing Regulatory Landscape – The Markets and Products The Markets The Products Principal Trading OTC Derivatives Structured Products Securitization Money Market Funds Hedge Funds Private Equity Exchanges MTFs/Dark Pools Derivatives Clearing Short Selling Transparent Credit Crisis

What the Changing Regulatory Landscape means for you? Capital and liquidity ─ FSA’s Liquidity proposals ─ Liquidity standards ─ Liquidity buffers ─ Impact on ICAAPs ─ Stress testing ─ Changes in accounting rules ─ Rainy day reserves ─ Capital buffers ─ Impact on hedge funds and private equity

What the changing regulatory landscape means for you Corporate governance & ethics - where the buck stops! Approved Persons - holding individuals to account - FSA applies the polyfiller Remuneration - a one way option – “privatise the profit, socialise the loss!” Client money - now you see it, now you don’t!

What the changing regulatory landscape means for you Thursday 16 April 2009