NY bank regulator is appointed head of supervision by Qatar financial centre
Head of bank supervision at the NY state banking department to lead regulatory dialogue with authorised institutions in the country’s new financial centre.
The current head of bank supervision at the New York state banking department will join the new financial centre of Qatar as the managing director of supervision.
Michael Lesser is set to move to the Qatar Financial Centre Regulatory Authority (QFCRA) in November, where he will be responsible for fostering a sound regulatory relationship with authorised firms.
Lesser’s background will complement the current and internationally diverse governing board at the QFCRA, which includes the former vice-president of the Bank Supervision Group of the Federal Reserve Bank of New York.
Qatar is moving to strengthen its supervisory reputation to attract business and establish itself as a leading financial centre in the Middle East. To this end, Qatar Financial Centre has sought to “replicate the best laws and regulations found in the major financial jurisdictions and ensure they are managed by experienced regulators with international credibility”, according to QFCRA’s chairman and chief executive Phillip Thorpe.
QFCRA has already granted licences to AXA Investment Managers, Barclays Bank, Credit Suisse and Morgan Stanley.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Regulation
Revealed: the three EU banks applying for IMA approval
BNP Paribas, Deutsche Bank and Intesa Sanpaolo ask ECB to use internal models for FRTB
FCA presses UK non-banks to put their affairs in order
Greater scrutiny of wind-down plans by regulator could alter capital and liquidity requirements
Industry calls for major rethink of Basel III rules
Isda AGM: Divergence on implementation suggests rules could be flawed, bankers say
Saudi Arabia poised to become clean netting jurisdiction
Isda AGM: Netting regulation awaiting final approvals from regulators
Japanese megabanks shun internal models as FRTB bites
Isda AGM: All in-scope banks opt for standardised approach to market risk; Nomura eyes IMA in 2025
CFTC chair backs easing of G-Sib surcharge in Basel endgame
Isda AGM: Fed’s proposed surcharge changes could hike client clearing cost by 80%
UK investment firms feeling the heat on prudential rules
Signs firms are falling behind FCA’s expectations on wind-down and liquidity risk management
The American way: a stress-test substitute for Basel’s IRRBB?
Bankers divided over new CCAR scenario designed to bridge supervisory gap exposed by SVB failure
