
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
Industry confused by EU’s ‘bingo card’ clearing rules
Uncertainty over definition of representative trades in Emir active account requirement
FDIC scrutinised over move to cover all SVB deposits
Advisory panel questions whether guaranteeing uninsured deposits was necessary to prevent contagion
EBA seeks to tighten up uneven prudent value adjustments
Regulator to consult ‘soon’ on changes to improve consistency of capital deductions
Post-Brexit divergence puts EU subsidiaries on the rack
Banks face choice between higher staffing costs or over-engineered processes at UK headquarters
SEC criticised for belt-and-braces ban on volume-based pricing
Legal experts question need for rules to prevent firms disguising agency trades as proprietary
SEC expected to protect CRT in conflicts of interest rule
Decision could come as early as today; high hopes for credit risk transfer exemption
FRTB managers face hard facts about risk factors
There are ways to reduce the capital charges caused by NMRFs, but they come at a price
SEC official defends delayed dealer registration rule
Regulator says market should be treated like equities, but PTFs warn it will harm market liquidity