EC shadow banking consultation: first reaction

Author: Gemma Varriale | Published: 20 Mar 2012

The EC yesterday published a consultation paper that is the first step in its plans for regulating the shadow banking sector. The paper marks the start of a long-awaited process targeted at an industry worth an estimated €46 trillion (£38 trillion).
But a big concern for many lawyers is the workability of any efforts to ensure international consistency in the treatment of shadow banking.
"These are very mobile people and very mobile businesses," said Benedict James of Linklaters in London. "All you need for some businesses is a floor and a couple...