Paving The Way For The Next Financial Meltdown

Law360, New York (October 30, 2013, 12:15 AM ET) -- At the Cannes Summit in November 2011, the G-20 leaders endorsed the key attributes of effective resolution regimes for financial institutions as the international standard for resolution regimes. The term “resolution” refers to the orderly resolution of distressed financial firms without taxpayer support, which, in effect, provides financial regulators with a broad range of powers and options to resolve a firm that is no longer viable and has no reasonable prospect of becoming so.

On Aug. 12, 2013, the Financial Stability Board (FSB) issued a statement,...
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