FSB (Financial Stability Board) riding piggy back on BIS (Bank for International Settlements)
The FSB ensuring that UK financial institutions are fully compliant with their global standards and rules, which are above any national law. So of certai…
FSB (Financial Stability Board) riding piggy back on BIS (Bank for International Settlements)
The FSB ensuring that UK financial institutions are fully compliant with their global standards and rules, which are above any national law. So of certain circumstances, against a jurisdiction that is found to be taking action to bring the framework for financial regulation into line with international standards, there is a lesson to be learned.
The FSB enters into a confidential dialogue with the authorities concerned in order to further evaluate compliance with the relevant standards and possible ways to improve adherence to standards. In other words, an indictment could cause broader problems in the financial system. Lanny Breuer (Assistant U.S. Attorney General) surveyed Washington and London regulators, policy hands and sought assurance that the system could weather an indictment.
The global financial stability board has an allegiance that systematically lutes from any nation and the Banks shall enjoy immunity from the jurisdiction of any civil action against the Banks for damage caused by any vehicle belonging to or operated on behalf of the Bank. All documents and any data media belonging to the Bank or in its possession, shall be inviolable (never to be broken, infringed, or dishonored) at all time and in all places. This allows the Banks to pick and choose information released to prosecution and avoid charges which will only pay fines and penalties which are negotiated. Hence the phrase “too big to jail” or in any case against the Big Banks, pay as you play and the authorities of any nation will not jail the cash cow. The only harm that comes to the Big Banks is an internal investigation to see if they did any thing wrong.
Article 14 of the BIS Headquarters Agreement between the Swiss Federal Council and the Bank for International Settlements. The Officials of the Bank, whatever their nationality, shall enjoy immunity from jurisdiction for acts accomplished in the discharge of their duties, including words spoken and writings, even after such persons have ceased to be Officials of the Bank. The only time this will not apply to an Official of the Big Banks if that individual violates the trust of the Bank which will destroy an Officials immunity.
