Michel Barnier , the European Union’s financial services commissioner, will confront U.S. Treasury Secretary Timothy F. Geithner over the lack of American rules to restrict bonuses for financial-services workers.
The U.S. Securities and Exchange Commission will return to work on mutual-fund fees “with full force” once it gets past the July deadline for many Dodd-Frank Act rules, SEC Commissioner Elisse Walter said.
Chairman of the Financial Stability Forum and Governor of the Banca d’Italia Mario Draghi comments on FSF plans, due to be published in detail tomorrow, to overhaul regulation in the wake of the financial crisis. The plans will apply to all financial companies that pose a risk to the economy if they fail, including hedge funds, he said. He spoke today to reporters in London.
Mario Draghi ’s campaign to take charge of the European Central Bank must overcome Italy’s reputation as a country with a legacy of inflation and with a prime minister indicted for paying a minor for sex.