Controlling the Risks of Shadow Banking

International coordination of nonbank financial reform is crucial.

, New York Law Journal


Edward F. Greene, senior counsel at Cleary Gottlieb Steen & Hamilton, and Elizabeth L. Broomfield, an associate at the firm, write that 2013 has proven to be a time of great transformation and controversy in the development of "shadow banking" supervision and regulation, as, in the past few months alone, the Financial Stability Board, United States, and European Union have taken significant steps that will result in increased oversight of this segment of the financial sector.

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