Contributor: Jeffrey Wallis
The goal of the Office of Financial Research, spawned by the Dodd-Frank Wall Street Reform Act in 2010, is to collect data from financial institutions and produce greater transparency. As a result, the industry as a whole can be analyzed for the specter of systemic risk, in effect heading off illness in one firm or group of firms before it spreads to the market as a whole.... read more
Contributor: Jeffrey Wallis
What do banks, airlines and exchanges have in common? Every country wants one. Based on signals coming from country regulators and politicians, it seems that exchanges have become the crown jewels of nationalistic pride, as they are the prized gem at the center of a country’s financial and capital growth. The desire to protect exchanges as sovereign assets is causing nations to be cautious of recent exchange merger activity and contemplate the potential risks and challenges of consolidated markets. One example is the Australian government’s rejection of the Singapore Stock Exchan... read more
Contributor: Jeffrey Wallis
Recently I discussed the need for the regulatory agencies to devote time and energy to small firms and their need to gain acceptance by the regulators of the innovative products and services they are creating with the financial services industry. The need for this focus has cascading effects to jobs, technology adoption, and more importantly, satisfying the need of sidelined capital to fund innovative ideas.... read more
Contributor: Jeffrey Wallis
As the financial services regulation debate marches on, one of the seemingly missed opportunities is the restructuring and refocusing of the multiple regulatory agencies. An emerging trend that is clear based on administration and Congressional priority and focus is that attention on “too big to fail” will create “too small to succeed”. The populist agenda, while politically strong, may miss the greatest populist idea of small business innovation. In many practical ways, the focus of the current regulatory agencies is on the large Wall Street firms and their impact on the economy, clearly an obvious priority and to some extent, popular priority. But the unintended consequence is that it comes at the expense of financial innovation and enabling new ideas, products and services.... read more
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