FRSGlobal, the provider of risk and regulatory compliance applications on a unified platform, is offering all official regulatory bodies a version of its risk and regulatory software without charge to better facilitate prudent oversight of the financial markets and help provide a single regulatory model for the 21st Century.
On last Friday morning’s BBC Radio 4 programme, Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), stressed that ‘stricter rules to control the market are essential’ and agreed the need for a global regulator to ensure that standards are implemented.
“We currently are trying to affect “changes for the 21st century… using a 20th Century hierarchical structure” and shared his vision for “a cooperative network of regulators,” says Robert B Zoellick, World Bank Group president.
“… All regulators are likely to require the power to see and consolidate all positions and risks of all banks on a coherent basis,” says Bob McDowall, research director, Europe, TowerGroup.
D.C.