What the changing regulatory landscape means for you Thursday 16 April 2009.

transcript

What the changing regulatory landscape means for you

Thursday 16 April 2009

Get Your Barings! Where to Now?• More v. better regulation• What now for Basel and MiFID?• The roles of the Treasury, Bank of England and

FSA • The Turner Report• The De Larosiere Report• International regulator?• Principles based regulation v. outcomes based

regulation

The Changing Regulatory Landscape – The Markets and Products

The Markets The Products

PrincipalTrading

OTCDerivatives

Structured Products

Securitization

Money MarketFunds

Hedge FundsPrivate Equity

ExchangesMTFs/Dark Pools

DerivativesClearing

Short Selling

Transparent

CreditCrisis

What the Changing Regulatory Landscape means for you? Capital and liquidity

─ FSA’s Liquidity proposals─ Liquidity standards

─ Liquidity buffers

─ Impact on ICAAPs

─ Stress testing

─ Changes in accounting rules─ Rainy day reserves

─ Capital buffers

─ Impact on hedge funds and private equity

What the changing regulatory landscape means for you • Corporate governance & ethics

- where the buck stops!

• Approved Persons- holding individuals to account - FSA applies the polyfiller

• Remuneration- a one way option – “privatise the profit, socialise the loss!”

• Client money- now you see it, now you don’t!