Int'l Regulators Want Rigorous Oversight Of Financial Firms

Law360, New York (September 24, 2012, 2:59 PM EDT) -- Global financial regulators on Monday said national regulatory agencies should appoint a single individual to coordinate supervision of international financial conglomerates like Citigroup Inc. as a way to prevent gaps in oversight of those companies.

The Basel Committee on Banking Supervision, the International Organization of Securities Commissions and the International Association of Insurance Supervisors said in new guidelines for regulating financial conglomerates — which can offer traditional banking, securities broker-dealer and underwriting and insurance services under one roof operating across international borders — that having a...
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