Proposals for regulations in shadow banking and new standards for multi-listed securities

FSB proposals on shadow banking

The Financial Stability Board (FSB) has published proposals to strengthen the oversight and regulation of shadow banking.  The proposals follow on from the 2011 G20 summit in Cannes at which the G20 leaders agreed to take steps to mitigate the risks posed by “that part of the financial system that extends credit but is outside the regular banking sector.”

The proposals include measures to dampen financial stability risks associated with securities financing transactions including regulation and improvements to market structure.  The proposals will now be reviewed at the forthcoming G20 summit in St Petersburg with the intention of the final regulations being in place in 2014.

New standards for multi-listed securities

The International Securities Association for Institutional Trade Communication (ISITC) has issued a best practices document which aims to establish standards for multi-listed securities.  The Executive sponsor of the working group, Tom Brown explained that the document was aimed at overcoming the risks caused by the disparity of multi-user listings adding “Without a proper grasp of the identifier options available to them, financial institutions may experience breakdowns with settlements, corporate actions and reconciliations.”

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