Basel framework needs pension fund input

An academic with specialist knowledge of financial regulation has advised MEPs to expand the Basel agreement and in future include pension funds among the groups of investors who should be consulted in a financial crisis long-term regulatory review.

Professor Stephany Griffith-Jones told MEPs at a hearing of the European Parliament’s special committee on Financial and Economic Crisis last week that regulation-setters and legislators should include pension funds, trade unions and SMEs in any discussions concerning overriding financial regulation as the current Basel agreement largely concentrates its interest on banks.

IPE