About the Prudential Regulation Division
The Prudential Regulation Division focuses on the issues affecting member firms as a result of potential or proposed changes to the prudential regulatory framework, whether arising globally, regionally in the EU, or at national level in the UK. The division works both proactively and reactively with regard to regulatory, legislative, and policy initiatives, and with respect to implementation by the supervisory authorities in the UK and other Member States. The division affords member firms a forum to identify, raise, and discuss prudential issues and concerns. In addition, it seeks to:
- Work toward appropriate, measured, and globally consistent regulatory responses, which result in proportionate and practical outcomes for firms;
- Press for quality policy development taking account of the tools of better regulation; and
- Maintain and enhance AFME's status as a trusted interlocutor; foster a regulatory dialogue with the industry; and contribute industry expertise in order to facilitate an informed debate about regulation.
Key Issues and Initiatives
The regulatory agenda is currently driven by financial turmoil. The G-20 have mapped out a plan of action that they wish to see pursued, and the Financial Stability Board and the Basel Committee have been tasked with addressing the issues that arise in relation to prudential regulation at the global level. Europe has its own parallel programme for regulatory reform, confirmed by ECOFIN and driven by the European Commission, which is largely consistent with the global agenda. The thematic priority issues (being addressed globally, regionally, and nationally in the UK) are as follows:
- Market risk/the trading book capital requirements;
- Liquidity;
- Definition of capital;
- Securitisation;
- Macro-prudential supervision/systemically important firms;
- Counter-cyclical measures;
- Leverage ratio; and
- EU supervisory architecture.
These issues encompass, at the EU/national level, the implementation of CRD 2, the negotiation of CRD 3, the recent consultation on CRD 4, and forthcoming proposals consultations for CRD 4/5. At the global level a consultation is expected from the Basel Committee on a number of these issues, and calibration work continues in respect of the July 2009 publication.
Organisation
Priorities are set by the Prudential Regulation Board and taken forward by AFME staff with input from the Prudential Regulation Committee.
Board of Directors
Robert Charnley (Chair), Goldman Sachs
Marcelo Castro, Santander
Rob Everett, Bank of America Merrill Lynch
Mark Merson, Barclays Capital
Christian Lajoie, BNP Paribas
William Kerr, BNY Mellon
David Sharland, Citi
Steve Teather, Close Brothers
Arnoud Chupin, Crédit Agricole CIB
Marc Adam, Credit Suisse
Stephen Pache, Deutsche Bank
Robert Charnley, Goldman Sachs
Richard Blackburn, HSBC
Walter Smith, ING
Massimo Mocio, Banca Imi S.p.A
Graham Meadows, J.P.Morgan
Andrew Geczy, Lloyds Banking Group
Mike Mansfield, Morgan Stanley
Neil Jones, Nomura
Mary Pragnell, Royal Bank of Scotland
Sébastien Palle, Société Générale
Sean Ryan, UBS
Thomas Koenig, UniCredit
Prudential Regulation Committee
Martin Abbott, Bank of America Merrill Lynch
Kris Bhattacharjee, Barclays Capital
Kristelle Maouad, BNP Paribas
John Roy, BNY Mellon
Alain Lesjongard, BNY Mellon
Richard Hart-Johnson, Citi
Steve Teather, Close Brothers
Richard Carlson, Crédit Agricole CIB
Jeremy Evans, Credit Suisse
Caitriona O'Kelly, Deutsche Bank
Marco Bensi, Goldman Sachs
Mark Penney, HSBC
Ed Jenkins, HSBC
Walter Smith, ING
Joe Traynor, J.P.Morgan Chase
Rod Hardcastle, Lloyds Banking Group
Dawn Green, Morgan Stanley
Neil Jones, Nomura
Gordon, Haskins, Royal Bank of Scotland
Antonio Garcia Del Riego, Santander
Tony Venutolo, Société Générale
Gareth Bowen, UBS
Contact
Diane Hilleard, Managing Director
diane.hilleard@afme.eu
+44 (0)20 7743 9356
Anita Millar, Managing Director
anita.millar@afme.eu
+44 (0)20 7743 9358
Cristina Rabbini, Director
cristina.rabbini@afme.eu
+44 (0)20 7743 9362