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new eu consultation on a possible framework for the recovery and resolution of nonbank financial institutions October 5, 2012

Posted by Bradley in : financial regulation , trackback

The Commission has published a consultation document asking for views on the recovery and resolution of nonbank financial institutions with comments due by December 28th. The target group for the consultation is defined broadly as:

Member State authorities (crisis management, supervisory, judicial), financial industry, their stakeholders (customers, creditors, shareholders, employees), trade associations, academia, citizens.

It’s not entirely clear to me why the target group here (stakeholders) is defined so broadly when the financial indices consultation’s target group was defined in a way that looks (but arguably isn’t really because of the broad scope of the term “users”) narrower. In a context where the underlying problems – issues relating to the manipulation of Libor and other benchmarks- had received a significant amount of news coverage, the Commission defined the target group of the consultation as

Contributors to, providers of and users of indices and benchmarks

I’m not sure what principles (if any) are operating here with respect to stakeholder definition.

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