The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

Transparency and regulation: An opportunity missed

Market participants will live to regret not getting their own houses in order.

They spent years arguing that over-regulation will kill the goose that lays the golden egg. Now financiers and rating agencies have discovered that not only is there no golden egg, but the goose has already been cooked. Without more of the much-vilified regulation, the rest of the farmyard could end up in the pot too.

The timing of the annual IMF/World Bank meetings could not have been better, coming as they did just after the summer’s disorders and significant investment bank losses on sub-prime, leveraged loans and CDOs. A sombre mood prevailed in Washington, despite the firmer tone of financial markets – and it’s easy to see why. For once the most meaningful discussions were on the traditional engine room of the global economy: US sub-prime fall out and its effects on both American and European finance will undoubtedly lead to greater regulatory oversight, possibly at a global level.

Joaquin Almunia, EU commissioner for economic and monetary affairs told the second annual EU government bond summit at the end of October that all of the authorities charged with ensuring global financial stability are of the same mind on the key areas that need looking at.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree