In a pointed opinion article published in the Financial Times, Dan Davies, author of The Unaccountability Machine, notes that as supervisors warn firms to prepare for geopolitical risk, they face their own geopolitical pressures.
With the Basel III "endgame" stalled, the future of coherent, cross-border regulatory governance is increasingly uncertain, Davies observes. The EU has delayed the implementation of key provisions until 2026. The UK has pushed its timetable to 2027. In the US, there's not even a full proposal on the table, and comments from key regulators in the Trump administration have led to doubts as to whether one will be put forward at all.
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