International Centre for Financial Regulation
It was the product of a collaboration between International Financial Services institutions and the UK Government. The ICFR wanted to provide research, events and training on financial regulation whilst also acting as a catalyst for dialogue, thought leadership and scholarship in this critical area.[dead link] The ICFR’s stated focus was to "shape regulatory thinking that not only addresses – but also anticipates – the evolution of financial markets at a global level, to bring consistency and cooperation between global regulators and policy makers through pro-active discussions, working groups and long-term research." The Centre also meant to support practical training initiatives on best practice and the latest regulatory changes both in developed and emerging markets.
It was put into administration in late 2012, as a member of the management had been suspended after a "substantial" sum of money "appeared to have been removed from the organisation’s bank accounts" without the permission of the centre's board.
On 21 January 2014, the ICFR's Chief Operating Officer Charles Taylor appeared at City of London Magistrates' Court charged with fraud by abuse of position in relation to the internal theft of almost £600,000 and false accounting.
- Board members
- David Currie – Chairman
- Barbara Ridpath – Chief Executive
- Non-Executive Directors: Michel Prada, Stuart Overend, Charles Taylor
- Stakeholders of the ICFR
- Aberdeen Asset Management
- Barclays Bank Plc
- Goldman Sachs International
- JP Morgan
- Bank of America Merrill Lynch
- Morgan Stanley
- Prudential plc
- Standard Chartered
- City of London Corporation
- Her Majesty’s Government
- Ernst & Young
- Clifford Chance
Notes & references
- "ICFR launched". 13 January 2009. Archived from the original on 17 March 2010. Retrieved 6 September 2012.
- ICFR research Archived 21 January 2010 at the Wayback Machine.
- ICFR training catalogue Archived 6 September 2010 at the Wayback Machine.
- Kitty Ussher announces the establishment of the ICFR
- ICFR's Director of Research's comment entitled: "Obama proposes measures to restrict size and activity of major banks"