Call for global regulatory approach
Twelve months down the track from the collapse of Lehman Bros, a British research house as warned that not enough has been done to fix bank regulation.
The research house, Datamonitor, said there had been little in the way of practical progress towards the kind of bank regulation that was desperately needed.
It said in these circumstances the forthcoming G20 meeting would need to push for substantial regulatory change because against the background of returning profitability in the banking sector, there was a real danger that the momentum for change was being lost.
Datamonitor cards and payments analyst Kieran Hines warned against tokenistic gestures and populist politics, such as a French plan to cap individual bonuses.
He said one of the biggest lessons to be learned from the crisis was that a global financial services industry needed regulation at a regional or international level for supervision to be truly effective.
AUTHOR
Mike Taylor
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