Basel-offshoot calls for more consistency
Supervision in the banking, insurance and securities sectors must acquire more consistency, according to a report by the joint forum at the Bank for International Settlements (BIS).
The forum, which is an offshoot of the Basel Committee on Banking Supervision, published a 132-page document containing 17 key recommendations for better financial regulation last Thursday.
"While many of their recommendations make sense, they will take years to implement," Michael Foot, the UK chairman of Promontory
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