EXECUTIVE SUMMARY
Welcome to this edition of "Being better
informed", our monthly FS regulatory, accounting and audit
bulletin, which aims to keep you up to speed with significant
developments and their implications across all the financial
services sectors.
The FSB led the surge of Shadow Banking policy recommendations
published in November, which we summarise in this month's
Feature.
The FSB also looked at how shadow banking has grown globally in
is its shadow banking monitoring report. At this time assets in the
aggregate shadow banking system are about half the size of assets
in the traditional banking system.
In Europe, a number of legislative initiatives are delayed until
2013. On the insurance front, a further delay to Solvency II
implementation now seems inevitable. But in Laying the
foundations for the future of insurance reporting we make a
case for adopting both sets of requirements now, to minimise the
expense and disruption that would occur later.
