Search results (1694 cards)

Updated: Sept. 10, 2012 (Initial publication: Sept. 5, 2012)

Breaking news

The Dog and the Frisbee, severe metaphor thrust forward on August 31, 2012 by the Bank of England, about stacking new rules in banking Regulation.

It quarrels on the best model of banking regulation, but the key is to determine the criteria against which we fight. However, two representatives of the Bank of England, during the global meeting of central bankers in Jackson Hole in the US, have appointed what they believe to be the relevant criterion: simplicity. In a short intervention, they stressed that the North American banking regulation would make about 30,000 pages and 60,000 pages for the European Union. Entitling their speech "Dog and Frisbee", they said that it is equivalent to require that a dog learns Newton's laws before catching the Frisbee. Under these conditions, many would would like to return to Glass-Steagall Act, the mere fact that this law was simple.

Updated: Sept. 10, 2012 (Initial publication: Sept. 1, 2012)

Breaking news

On August 21 2012, a U.S. federal court asked that poker was a game of strategy and not of chance, which subtracts it to the legislation governing this kind of chance games.

In the United States, if the State courts took different positions on whether the game of poker is a game of chance or a game of strategy, this is the first time that a federal jurisdiction decides the issue by this judgment of August 21, 2012 ruled by Judge Jack Weinstein. The question is crucial for the Regulation of online gambling because gambling is regulated or even prohibited by State, but not strategy games. Qualification depends on the definition that is given in the game according to the judge, who relied on recent scientific studies, the gain in poker does not depend poker mostly luck but skill. Therefore, it escapes the regulations that surround gambling.

Updated: Sept. 3, 2012 (Initial publication: Aug. 29, 2012)

Breaking news

On August 10, 2012, the German association of public banks seized the European Banking Authority (EBA), believing that the rating agencies practice monopoly pricing.

Rating agencies are in the eye of the cyclone, due to the ambiguity of the situation: by their status, they are simple operators but by their role are almost regulators. Governing the markets, the banks can not for the moment dispense with them. However, the rating market is oligopolistic. On August 1, 2012, the association of German public banks complained that the prices practiced by rating agencies are monopoly pricing. What is remarkable is that this a complaint is made not to the European Competition Authority, the Commission, but to the European Banking Authority (EBA). Thus, regulation is a tool and a wider tool more than is the competition.

Updated: Sept. 3, 2012 (Initial publication: Aug. 31, 2012)

Breaking news

In India, the Court of Auditors published a report on 16 August 2012 criticizing the Atomic Energy Regulatory Board (AERB) for its structural lack of independence.

India is transforming its energy policy, because it depends too much of coal and plans to expand its nuclear industry. Its agency, the Atomic Energy Regulatory Board (AERB) is in charge of overseeing nuclear security. But the Indian Court of Auditors issued a report on 16 August 2012, claimed that such a nuclear deployment could not take place only if the agency is structurally modified. Indeed, it is currently dependent on the federal Government, while independence is required for any regulator. In addition, it has no real powers of control and intervention. It is therefore not a true regulator, and in these conditions, expand nuclear energy would constitute a great risk.

Updated: Aug. 28, 2012 (Initial publication: Aug. 21, 2012)

Breaking news

On July 31, 2012, the Secretary of the Treasury of the United States request to the Federal Housing Finance Agency (FHFA) to reconsider its refusal to apply its program to reduce the amount of capital to reimburse in the real estate loans yet due.

We know the importance of the credit mortgage c in the United States and the place of its failure in the financial crisis of 2008 and those that erupted. The refinancing market of the real estate loans is held by three operators, including Fannie Mae and Freddie Mac. This market is regulated and overseen by the Federal Housing Agency (FHFA). This agency has the power to adjust as needed to lower the principal amount of mortgage debt if market value of purchased assets decline also. But he Federal Housing Finance Agency (FHFA) sought for this purpose by the same firms of refinancing acting at the request of the Government, refused to allow such an adjustment. On July 31, 2012, the Secretary of the Treasury of the United States is expressed "concern" of such refusal, which risk to distressed companies of refinancing of mortgages, including the rescue has already cost so much at the first time.

Updated: Aug. 28, 2012 (Initial publication: Aug. 25, 2012)

Breaking news

On August 10, 2012, the Financial Services Authority (FSA) proposes to make more objective the Libor system and increase the powers of the regulator and courts on the banks.

The Libor manipulations successively discovered, led the British Government to request to the Financial Services Authority (FSA) a report to reform the system. On August 10, 2012, a progress report is made public. It proposes not to end self-regulation, but to temper it. Firstly, the declaratory system, too subjective, must be tempered by objective data (real transactions and other reference rate). Secondly, the power of monitoring and sanction of public authorities must be increased. This growing power must be that of the courts... and the Financial Services Authority (FSA). Stakeholders have until September 7, 2012 to respond. The British Government has entrusted in late July 2012 the Financial Services Authority (FSA) a report on the reform that is appropriate to operate concerning the system of Libor. It must be submitted at the end of September. Subsequent events show the method followed.

Updated: Aug. 17, 2012 (Initial publication: Aug. 17, 2012)

Doctrine

Deregulation Vs. Reregulation of Telecommunications : A Clash of Regulatory Paradigms

Deregulation Vs. Reregulation of Telecommunications : A Clash of Regulatory Paradigms

Updated: June 8, 2012 (Initial publication: June 6, 2012)

Doctrine

International Handbook on Regulating Nanotechnologies

International Handbook on Regulating Nanotechnologies

Updated: May 29, 2012 (Initial publication: May 16, 2012)

Breaking news

A report of the Indian Parliament concluded that there is collusion between pharmaceutical laboratories and the service which permits the placing on the market of drugs (Central Drugs Standard Control Organization - CDSCO). The Indian Government said on May 10, 2012 that he would initiate an investigation.

In India, a special Department of the Ministry of Health control the drug sector and issue market authorisations for medicines, the Central Drugs Standard Control Organization (CDSCO). A report of the Indian Parliament has concluded that responsibilities within the Organisation had not respected the rules of regulation and not required that drugs are subject to mandatory tests before issuing to them an authorisation on the market, and even if some of them are banned in other countries. The conclusion of the report is that such a breach cannot be only explained by collusion between regulator and pharmaceutical industry. The Government will initiate an investigation.

Updated: May 29, 2012 (Initial publication: May 18, 2012)

Breaking news

A study commissioned by the British Regulatory of Healthcare related to a scandal such as PIP implants was published on May 14, 2012

In the United Kingdom, the Medicine and Healthcare Products Regulatory Agency, by noting the wrongdoing of the scandal of the Breast implants PIP and the clumsy way in which this type of scandal, alarming the population, had been resolved by health authorities, has commissioned a study in January 2012 to analyse this crisis and learn from it behavior lessons for similar crises. On May 14, 2012, the report was published. This report advised the regulator, when it is faced with this type of crisis, to expand its sources of medical information before making provisions, that it didn't do sufficiently. The regulator must also communicate as much as possible with the victims on the one hand (first circle) and the public (second circle) to give information, reassure and encourage good medical behavior.
Copyright © 2010-2023 -
Legals