July 18, 2006

July 18, 2006: Intriguing ... financial

Chief regulator steps down on 'gut feeling' Duncan Mavin, Financial Post, July 15, 2006

Did he not feel needed any more?

The head of Canada's financial services regulator .... Nick Le Pan, the superintendent of financial institutions [....]

His decision has raised eyebrows in the financial services community, especially because Mr. Le Pan will now no longer be in office when Canada's banks finally adopt new global banking regulations known as Basel II in 2007.

Mr. Le Pan is vice-chairman of the international committee responsible for the Basel regulations, which are to be applied to banks around the world. He has taken a personal interest in ensuring Canada's banks are compliant with the rules and are on time when it comes to adopting them.

[....] Some industry insiders have suggested his work on Basel leaves him well-positioned to take a role with a global banking organization or regulator.

Would that have any implications?


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