On Thursday, the U.S. Congress gave final approval to one of the most massive overhauls of country’s financial regulation ever. The legislative action ended more than a year of political disagreements over the scope of the new regulations.
The new law establishes an independent consumer bureau within the Federal Reserve to monitor against abuses in mortgage, [...]

India has long operated a `silo system’ where the financial industry was sought to be broken up into vertical silos associated with regulatory agencies. The word `regulation’ is relatively little understood in India. Instead, there has been a central planning notion of comprehensive `control’ of a given [...]

SEBI is pushing on the frontiers of enforcement in India. This is the order on Bank of Rajasthan.
I was surprised to see how small the market reaction was (this image is from Yahoo Finance):

What am I not understanding?

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Howard Davies was a deputy governor of the Bank of England, and the first head of the UK FSA. He is one of the world’s leading thinkers on financial regulation and monetary policy, and one of the people who combines skills in both finance and monetary economics. In a recent article, he focuses [...]

Writings about Lehman, in the broad Indian discourse, are a reminder of the low quality of the Indian economics discourse. Meghnad Desai looks back at a year after Lehman, in Financial Express. For a person who was [...]

Somasekhar Sundaresan has written in Business Standard on the proposed Financial Services Appellate Tribunal (FSAT). Deepshikha Sikarwar has written in Economic Times on the proposed movement towards Regulatory Impact Assessment (RIA). These ideas come from the Mistry and Rajan reports.
These words — financial services appellate tribunal; regulatory impact assessment — sound like true bureaucratese, and [...]

In a recent move, Switzerland’s second largst bank, Credit Suisse, has agreed to buy back more than half a billion dollars in securities and a hefty fine of fifteeen million dollars. The settlement arose due to an investigation by New York’s Attorney Genera;, Andrew Cuomo. The agreement stipulates that Credit Suisse will buy back securities from “individuals, charities [...]