Capital Markets Need Stronger Regulators, Central Banks Say

Law360, London (January 23, 2019, 11:54 AM GMT) -- Governments should boost the independence and investigatory powers of their financial regulators to help strengthen domestic capital markets, a report issued by the Bank for International Settlements recommended on Wednesday.

The body’s committee on the global financial system, chaired by Philip Lowe, governor of the Reserve Bank of Australia, urged policymakers to allow institutional investors such as insurers and pension funds to play a greater role in securities trading to help raise longer-term capital.

“Capital markets provide an important channel of financing for the real economy… and support economic growth and financial stability,” Lowe said in a video accompanying the committee's 71-page report. “Independent...

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