Электронная книга: Georges Ugeux «International Finance Regulation. The Quest for Financial Stability»

International Finance Regulation. The Quest for Financial Stability

As the global market expands, the need for international regulation becomes urgent Since World War II, financial crises have been the result of macroeconomic instability until the fatidic week end of September 15 2008, when Lehman Brothers filed for bankruptcy. The financial system had become the source of its own instability through a combination of greed, lousy underwriting, fake ratings and regulatory negligence. From that date, governments tried to put together a new regulatory framework that would avoid using taxpayer money for bailout of banks. In an uncoordinated effort, they produced a series of vertical regulations that are disconnected from one another. That will not be sufficient to stop finance from being instable and the need for international and horizontal regulation is urgent. This challenge is the focus of Georges Ugeux’s book. International Finance Regulation: The Quest for Financial Stability focuses on the inspirations behind regulation, and examines the risks and consequences of fragmentation on a global scale. Author Georges Ugeux has four decades of experience in the legal and economic aspects of international business operations. He created and run the New York Stock Exchange’sinternational group in charge of developing the NYSE’s reach to non-US companies, including relationships with regulators and governments. Ugeux teaches European Banking and Finance of the Columbia University School of Law. Ugeux is uniquely positioned to provide recommendations and suggestions from the perspective of a top global authority. In the book, he explores international regulation with topics such as: • Laws, regulations, and risks of overregulation • Transformation of the U.S. market and creation of the Eurozone • Development of a global framework and stability of the banking system • In-depth examination of Basel III, the Dodd-Frank Act, the European Banking Union, and the Volcker Rule The book also contains case studies from real-world scenarios like Lehman, CDS, Greece, the London Whale, and Libor to illustrate the concepts presented. Finance consistently operates within an increasingly global paradigm, and an overarching regulation scheme is becoming more and more necessary for sustainable growth. International Finance Regulation: The Quest for Financial Stability presents an argument for collaboration toward a comprehensive global regulation strategy.

Издательство: "John Wiley&Sons Limited (USD)"

ISBN: 9781118829622

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Georges Ugeux

Georges Ugeux

Georges Ugeux est un homme d'affaires belge, né en 1945.

Sommaire

Biographie

Docteur en droit et licencié en économie de l'UCL à Louvain, il commence sa carrière en 1970 à la Generale de Banque (devenue Fortis) et devient responsable du département corporate.

En 1985 il est "Managing Director" du département "Mergers and Acquisitions" de la Morgan Stanley Europe. En 1988, il devient directeur financier de la Société Générale de Belgique. En 1992, il est PDG de la banque d’affaires américaine Kidder, Peabody Europe. En 1995, il préside le "European investment Fund" et la commission d’évaluation des actifs de l’Etat.

De 1996 à 2003, il est vice-président du New York Stock Exchange, en charge de l’international, puis fonde sa société de consultance : Galileo Global Advisors.

Affaire Fortis

Le 8 janvier 2009, l’association de défense des actionnaires de Fortis (prise dans la tourmente du Fortisgate) décide de soutenir les candidatures proposées par Deminor et le Vereniging van Effectenbezitters lors de la prochaine assemblée générale extraordinaire. Il s'agit de Georges Ugeux pour le poste de président et de Philippe Casier, Dirk van Daele et Jan Zegering Hadders pour les postes de directeurs.

Le 11 février, Georges Ugeux et Jan Zegering Hadders sont élus par les actionnaires pour siéger au conseil d'administration de Fortis holding, avec respectivement 56,75 % et 93,08 % des voix.

Le 13 février à Utrecht, Georges Ugeux, ainsi que Jozef De Mey et Jan Zegering Hadders sont élus au conseil d'administration de Fortis holding jusqu'en 2011. Le soir même, Georges Ugeux s'oppose à Étienne Davignon et démissionne à l’issue du premier conseil d'administration de Fortis Holding tenu à l’issue de l'Assemblée Générale d'Utrecht. Il n’est pas été choisi comme président, la place qu’il briguait[1].
« Le code de gouvernance de Fortis prévoit qu’il y ait une majorité d’administrateurs indépendants. Ce qui n’est pas le cas puisque Karel De Boeck fait partie du management et Jozef De Mey a été présenté par l’assureur chinois Ping An et est l’ancien dirigeant du pôle assurance. J’ai insisté pour que le président du conseil d’administration soit indépendant et j’ai donc proposé la candidature de Jan Zeggering Hadders. Ils ont refusé.
J’insiste : le nouveau président, Jozef De Mey et Karel De Boeck ne sont pas indépendants. On bafoue les principes de gouvernance de Fortis. Je suis profondément déçu. Je regrette que deux administrateurs fassent partie de l’ancienne équipe. C’est inacceptable d’un point de vue de gouvernance. »
[2]

Notes et références

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Georges UgeuxInternational Finance Regulation. The Quest for Financial StabilityAs the global market expands, the need for international regulation becomes urgent Since World War II, financial crises have been the result of macroeconomic instability until the fatidic week end of… — @John Wiley&Sons Limited (USD), @ @ @ @ Подробнее...
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