NY bank regulator is appointed head of supervision by Qatar 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
More EU banks will fail new IRRBB test as rates push upwards
Half of all EU banks could cross outlier threshold for new test of net interest income
Finra head recognises ‘challenges’ for bond transparency drive
Cook says regulators thinking about industry’s operational and liquidity concerns
Why central banks shouldn’t ignore stablecoins
Rapid growth of stablecoins could impair monetary policy transmission
Hedge funds doubt tall tales around UK short-selling review
FCA has never used powers to ban short-selling, but reporting tweaks would be welcome
Cost of bank bail-in rules lower than expected – EBA
MREL pricing manageable for most banks, though troubled firms may struggle to meet targets
Ice Clear Credit may face Esma review as euro CDSs migrate to US
Upgrade in systemic status would depend on extent of migration from UK-based Ice Clear Europe
EU takes steps to avoid India clearing house lockout
Other Asian regulators may also have concerns about extraterritorial reach of Emir 2.2
HKMA preparing prescriptive climate stress test for 2023
Regulator plans granular scenario specifications, considers Pillar 2 capital measures
