A proposed reform of MiFID could have a major impact on the OTC derivatives market, and it has been suggested that the authorities are paying only lip-service to consultation.

A consultation in the UK will look at whether the country should adopt the compulsory merger-control system common in other jurisdictions. Few in the UK think there is a need, as the present system works well.

Fears mount over a proposal to force investors to share the burden of a future financial crisis. Writer Geraldine Lambe

Broker-dealers and advisory-only firms disagree over potential G-23 amendments. Writer Geraldine Lambe

A Basel proposal for subordinated debt to absorb losses if a bank is about to fail could overturn risk profiles, raise the cost of capital for banks and curtail issuance of subordinated instruments. Writer Geraldine Lambe

The German regulator's attempt to enhance financial stability by banning 'naked' short selling of shares and sovereign debt, as well as uncovered CDSs, is seen as an unwarranted distraction. Writer Charlie Corbett

The European Parliament's new law capping bankers' bonuses has met with a resigned acceptance in the banking community. But most bankers privately agree that national efforts are adequate already and that the EU's interference will only sow confusion and could lead to an exodus of talent. Writer Charlie Corbett

The overhaul of US withholding tax legislation will have a dramatic impact on how US corporations raise funds abroad, as well as the way foreign investors invest in US securities. Writer Charlie Corbett

Almost two years since the fall of Lehman Brothers, the UK regulator is assessing proposals that could see a major shake up of the way prime brokers handle their clients' assets. Writer Charlie Corbett

Change to the Basel framework must, and will, happen. But many bankers question whether version III will be any more successful than efforts I or II. Writer Geraldine Lambe