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Global Regulators Push Ahead with Plans to Curb ‘Shadow Banks’

Reuters – Working to tighten-up global regulation after the financial crisis, are moving ahead with plans to extend their reach to “shadow banks” such as money-market funds that handle trillions of dollars in short-term investments.

Policymakers have already tightened regulation for mainstream banks but are keen to stop higher-risk activities shifting to less supervised areas such as off-balance sheet units, hedge funds and money-market funds, which contributed to the crisis. This is a clear signal there will be no let up for the financial sector despite warnings that introducing too many rules could hinder global economic recovery.

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