With the EC’s consultation paper on regulating
shadow banking due out next week, the market is waiting to see
how European regulators will tackle the next major project on
Edward Greene, senior counsel at Cleary Gottlieb
Steen & Hamilton in New York and a former general counsel
of the US Securities and Exchange Commission, said that a copy
of the proposed EC consultation has been available in draft
form, and that when issued in final form would likely focus on
entities as opposed to activities.
Speaking at the PLI Institute on Securities Regulation in
London yesterday, Greene said the Institute of International
Finance is drafting a letter to be submitted to the Financial
Stability Board in connection with its request for...