Clifford Chance
The European Commission issues a 'Roadmap' for tackling the risks in Shadow Banking
13 September 2013
The European Commission has issued a 'Roadmap' for tackling the risks inherent in shadow banking. In a Communication issued on 4 September 2013, it unveiled its proposed new rules for Money Market Funds, summarised the regulatory reforms already undertaken in order to reduce shadow banking risks and set out possible further actions in five priority areas. The Communication, which came less than a week after the Financial Stability Board issued its Final Policy Recommendations, is described as being 'fully in line with the recommendations issued so far at international level'.
