The Joint Forum of financial supervisors publishes Review of the Differentiated Nature and Scope of Financial Regulation
Friday 08 January 2010 Joint ForumIt also addresses gaps arising from the scope of financial
regulation as it relates to different financial activities, with a
particular focus on certain unregulated or lightly regulated
entities or activities. The Joint Forum prepared this report at the
request of the G-20 to help identify potential areas where systemic
risks may not be fully captured in the current regulatory framework
and to make recommendations on needed improvements to strengthen
regulation of the financial system. The Joint Forum presents its
findings and recommendations in five key issue areas: - Issues
arising from regulatory differences across the three sectors,
including with respect to similar financial products; - Supervision
and regulation of financial groups, focusing on unregulated
entities within those groups; - Residential mortgage origination,
focusing on minimum underwriting standards consistently implemented
by different types of mortgage providers; - Hedge funds, especially
those that present systemic risk; and - Credit risk transfer,
focusing on credit default swaps and financial guarantee insurance.
Read
the full publication (.pdf)