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Washington
Inside Washington (09/14/2010)
* WASHINGTON (9/15/10)--Nonbanks would be exempt from regulations proposed by the European Commission that would require financial institutions to route much of their trades through clearing houses, said Dow Jones (Sept. 14). The draft legislation, expected to be published today, would exempt the nonbanks if their trades do not pose systemic risk. The European Securities and Markets Authority and the European Commission will set the exemption’s threshold ... * WASHINGTON (9/15/10)--Arthur Lindo, chief accountant at the Federal Reserve, sought to relieve financial industry concerns that regulatory reform would lead to an excess of regulatory supervisors (Dow Jones Sept. 14). The Fed will attempt to coordinate activity with other agencies better than it has in the past, Lindo said at a conference in Washington, D.C. The Dodd-Frank Act would incorporate thrift holding companies into the Fed’s supervisory process. It also will supervise nonbank financial companies that are deemed systemically significant. Lindo said the Fed already has created a “cross disciplinary” team to monitor the institutions ...


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