Ladies and gentlemen, Today we can look back on nearly a decade of rule-making. Following the financial crisis of 2008, almost no stone was left unturned – at least in the field of banking regulation. But this wave of re-regulation didn’t just focus on banks; rules were put in place to increase consumer protection and regulate the derivatives business, central counterparties and rating agencies. In many countries these changes were accompanied by institutional changes – new authorities were set up to deal with financial risks, and they were given new powers and instruments to mitigate these risks. Authorities gained ... (full story)