Andrew Gracie: Ending too big to fail – getting the job done Speech by Mr Andrew Gracie, Executive Director of Resolution of the Bank of England, at Deloitte, London, 26 May 2016. *  *  *  When G20 Leaders were putting together the post-crisis financial reform agenda in 2009 in London and Pittsburgh, the imperative to find a solution to too big to fail (TBTF) was clear. Feelings were rightly raw given the scale of public support provided to banks and the damage to the global economy. But there was scepticism that resolution - managing the failure of systemically important financial institutions without taxpayer support and without crashing the financial system - would ever work. Naysayers thought that bail-outs would always be necessary for larger banks, especially those operating cross-border. The work that has been done since has met this challenge. With the publication of the final Total Lossabsorbing Capacity (TLAC) Standard 1 in November last year a major milestone was passed. We have come a long way to making G-SIB resolution feasible and credible, and with implementation of the measures already agreed, and the tying of loose ends, the task will be complete. Today I want to review what we have done and what remains to be done to make G-SIBs resolvable.
Muhammad bin Ibrahim: Charting new frontiers – financial advisers the future Keynote address by Mr Muhammad bin Ibrahim, Deputy Governor of the Central Bank of Malaysia, at the Inaugural Conference of the Association of Financial Advisers “Charting new frontiers – financial advisers the future”, Kuala Lumpur, 31 October 2012. *  *  *  I would like to congratulate the Association and its members for your commitment, which has resulted in the successful formation of the AFA to champion and promote the interests of all licensed financial advisers in Malaysia. The formation of AFA is most timely, and marks a significant milestone in the progressive maturing of the financial advisory industry. Since the introduction of FAs in 2005, we have seen commendable growth within the industry, with the number of licensed FAs rising from 2 to 17, and the number of licensed FA representatives increasing from 17 to 229 today. The formation of the AFA is timely as it provides a platform to encourage greater collaboration among FAs to instill greater professionalism among its members and I expect the AFA to play an important role in coming up with clear strategies to propel the financial advisory sector towards greater progress and growth. Developments in the insurance and takaful sectors There are some broad developments within the economy and the financial sector that will expand the opportunity for growth in the provision of independent financial advisory services.