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Group of Thirty issues road‐map for financial reforms

Daniel F.C. Crowley (Partner, based at K&L Gates LLP, Washington, DC, USA)
Bruce J. Heiman (Partner, based at K&L Gates LLP, Washington, DC, USA)
R. Charles Miller (Global Integration Partner, based at K&L Gates LLP, Washington, DC, USA)
Philip J. Morgan (Partner, based at K&L Gates LLP, London, UK)
Mark D. Perlow (Partner, based at K&L Gates LLP, Washington, DC, USA)
David K.Y. Tang (Managing Partner – Asia, based at K&L Gates LLP, Seattle, WA, USA)
Karishma Shah Page (Associate, based at K&L Gates LLP, Washington, DC, USA)

Journal of Investment Compliance

ISSN: 1528-5812

Article publication date: 12 June 2009

Abstract

Purpose

The purpose of this paper is to summarize the Group of Thirty's recommendations and explain how they relate to other concurrent financial market regulatory initiatives in the USA, UK, and Europe.

Design/methodology/approach

The paper summarizes the report's four core recommendations, describes how they relate to recent reports by the US Treasury Department, the US Chamber of Commerce, and Committee on Capital Markets Regulation, and discusses how they may signal the direction of forthcoming domestic and coordinated international regulation.

Findings

Momentum has been building for consolidation, increased oversight, and international coordination of the legal and regulatory framework that governs the financial industry. The report has an unabashedly pro‐regulatory agenda.

Originality/value

The paper provides helpful reference on the current direction of international financial institution regulation

Keywords

Citation

Crowley, D.F.C., Heiman, B.J., Miller, R.C., Morgan, P.J., Perlow, M.D., Tang, D.K.Y. and Shah Page, K. (2009), "Group of Thirty issues road‐map for financial reforms", Journal of Investment Compliance, Vol. 10 No. 2, pp. 50-53. https://doi.org/10.1108/15285810910971292

Publisher

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Emerald Group Publishing Limited

Copyright © 2009, Emerald Group Publishing Limited