Charlie McCreevy

EC outlines proposal to regulate rating agencies

The European Commission (EC) today outlined a formal proposal to regulate credit rating agencies, which it hopes will improve the quality of ratings, restore investor confidence and reduce the conflicts of interest “inherent to the ratings business”.

EC demands centralised clearing by year end

At a meeting with industry groups and regulators on October 22, the European Commissioner for internal markets and services, Charlie McCreevy, outlined his intentions to move credit derivatives away from the over-the-counter (OTC) market and under…

Knocking down barriers

A new reinsurance directive passed by the European parliament in early June will eradicate the collateral requirements demanded by European supervisors. With a unified framework agreed for Europe, politicians are now turning their sights on the US. By…

In a muddle over MiFID

The EU’s Markets in Financial Instruments Directive (MiFID) has appeared like a bolt from the blue for most op risk managers. Should they be scared? By Duncan Wood

Consolidated supervision row brews

BRUSSELS -- European financial services associations are furious that the compromise text produced by the European Council on December 7, 2004, for the capital requirements directive (CRD) did not modify the European Commission’s proposals on…

Tattersall leaves FSA

Colin Tattersall, head of op risk policy at the UK's Financial Services Authority, has left his post at the supervisor. Market sources say he is set to join the Irish Financial Services Regulatory Authority's Basel II implementation efforts, based in…

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