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Final Report from the Co-Chairmen of the May 1995 Windsor Meeting to the Technical Committee of IOSCO
Group of Thirty (G30)
Although not the subject of a separate report, we wish to note two significant projects which are relevant to the issues identified at Windsor and which are currently being undertaken under the auspices of the G30, a private sector group composed of representatives of leading banking and securities firms concerned with the working of the international financial system. - Study Group on Supervision and Regulation. This study group is composed of various senior regulators and market practitioners from the banking, securities, and insurance industries worldwide. The group is examining the evolving linkages and interactions between institutions and markets in an increasingly global financial marketplace and how they are being addressed by banking, securities, and insurance regulators. The aim is to identify the appropriate direction of evolution in supervision for evolving systemic safety of the global financial system in the medium term. This group has met twice and is now undertaking a survey of global firms and supervisors. The group is expected to report in the next twelve months.
- Study Group on Financial Insolvency. This group is focusing on the insolvency of financial institutions. Motivated by the Barings collapse, the study will concentrate on the direct effect of an insolvency on other firms and attempt to identify measures to limit risk after an insolvency begins. This project is being undertaken in conjunction with INSOL, the international association of lawyers and judges interested in international insolvency. The study group's working draft report is expected during the summer of 1996.
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Final Report from the Co-Chairmen of the May 1995 Windsor Meeting to the Technical Committee of IOSCO
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