The International Centre for Financial Regulation, an independent global research institute focused on financial regulation, has been launched in the City of London, headed by chief exe
The International Centre for Financial Regulation, an independent global research institute focused on financial regulation, has been launched in the City of London, headed by chief executive Barbara Ridpath.
The ICFR is the product of co-operation between 19 financial services institutions including fund managers, insurers, investments banks and accountants, the City of London and the UK government to provide objective, non-partisan research, debate and training on financial regulation.
It will examine how regulation could better address and anticipate the evolution of financial markets, and how to shape international cooperation among regulators fundamental to re-establishing financial stability and confidence.
The ICFR will commission research to move forward thinking on regulatory frameworks and will also commission training to improve regulatory understanding, compliance and risk management.
It will work in collaboration with existing bodies and standard setters providing financial training to create ‘best in class’ tailored provision for market participants, policy makers and regulators.
The centre, while based in London, is intended to serve constituencies well beyond the borders of the UK aiming to provide a secure international forum for open dialogue on effective regulatory collaboration and best practice.
Ridpath says: "The continued impact of the current financial turmoil has highlighted the very real need for greater harmonisation of financial regulation globally to address the current concerns of all market practitioners. Bringing together academics, policy makers, regulators and market participants through discussion forums, working groups and independent research, the ICFR will address themes to support a more efficient regulatory environment. The launch of the centre comes at a pivotal time when it is absolutely critical to be looking for new thinking on how to return stability to the financial markets, and how to adapt regulation to changed market structures."
Gordon Brown, Prime Minister (photo), says: "As the international community moves from crisis management to longer-term reform, The International Centre for Financial Regulation will help governments, regulators and firms across the world to learn from recent experiences and build a stronger global regulatory framework."