A compilation of news links about and for regional communities pursuing local and regional development.
Published on line since November 11, 2003.
Top Regional Community stories … 1. – 9.
Other Regional Community News for Our Local Planet … 11.01 - .18
Blogging about Regional Communities … 12.01 - .07
Announcements and Regional Links … 13.01 - .02
Financial Crisis …14.01 - .02
Bold Italic highlights research terms and/or phrases of interest.
When state officials talk about reforming local government, they usually mean cutting financial support while shoving more responsibilities onto cities and counties. As state budgets have gotten smaller, the complaint line at City Hall has gotten longer. That's not reform; it's abdication.
In assembling his government-reform commission, Gov. Bob McDonnell wisely created a panel to look at the relationship between state and local governments and find ways to help them work together more effectively. Norfolk Mayor Paul Fraim was chosen to lead this important group.
Many of the recommendations will focus on internal administrative tasks such as eliminating duplicate functions and improving customer service. Those goals are low-hanging fruit that can be accomplished in the short time McDonnell has provided in order to hold a special session this fall.
But the governor has also promised to pursue longer-range reforms that demand more careful thought. He should make sure the panel on regional issues has more time and support to flesh out meaningful improvements.
The group was dubbed the "intergovernmental relations committee," not the regionalism committee. "Regionalism" has long been a bad word in
If the state decides to consolidate regional planning groups, two of the agencies centrally located along the
The Connecticut River Valley Council of Elected Officials, made up of leaders of the 17 towns that make up the two agencies - Connecticut River Estuary Regional Planning Agency [ http://www.crerpa.org/ ] and the Midstate Regional Planning Agency [ http://www.midstaterpa.org ] - sent the state Office of Policy and Management a letter on June 1 affirming an interest in merging.
"We believe that our towns share a common character which creates a distinctive regional identity," the letter states. "The natural beauty and cultural history of the valley is highly valued and is a source of attraction for residents and visitors alike. It is the goal of the CRVCEO to maintain and enhance their distinct identity, rather than to evolve in a suburban sprawl pattern outward from existing larger urban areas."
OPM has been tasked with reassessing the boundaries of the state's 15 regional planning groups by 2012. Many believe the end result will be a mandated consolidation of the groups, similar to the consolidation of the state's 117 probate courts …
The two agencies would prefer to remain separate but understand that the state is pushing for more regionalization of services, said Linda Krause, CRERPA's executive director.
"The argument is that the bigger you are, the more efficient you are," Krause said. "I think in lots of places, that's not necessarily the case. Sometimes you're just bigger."
The report was issued to, in part, suggest criteria for evaluation of the planning groups' boundaries, Krause said.
3. Rural Renaissance: B.C.'s Small-Town Economy - BCBusiness Online -
Changes in the global economy, and how we approach that economy, mean that rural and small-town B.C. is poised for community and economic renewal.
Before we can truly mobilize that renewal, however, we have to understand two fundamentals about B.C.’s economy. The first is that rural and small-town places make money; they generate the bulk of B.C.’s export wealth, which is key to the province’s past, present and future success. The second is that B.C.’s metropolitan and non-metropolitan regions function within a single integrated economy, where the success of one supports and reinforces the success of the other.
Creating vibrant rural and small-town communities in the new economy depends on approaching development in three integrated ways. The first centres on the economic shift from comparative to competitive advantage. Whether in resource commodities or in other sectors, increased production from low-cost regions means that we need to focus on investments and policies that help us compete locally, regionally, nationally and internationally. We can no longer simply rely on the bounty of our natural resources.
The second way we should approach rural development involves recognizing that in a fast-paced and changing global economy, our rural and small-town places must be similarly adaptable. We need to invest more in our community services, infrastructure and human and community capacity. Only then will communities be able to respond quickly to economic challenges and opportunities.
Finally, effective rural development demands a change in focus to “place-based” economies. In a global world, where business and industry can locate anywhere and still stay connected, the question is, Why would they invest in your place? The answer lies in the unique mix of local and regional assets and aspirations your place offers.
Rural and small-town B.C. have the types of assets now so in demand …
4. Cities scramble to provide incentives
The Fort Worth Business Press - Forth
It’s no secret that businesses are typically given compensation via incentives for moving or expanding in a
A handful of local incentive packages have made headlines in recent months, including $2 million in incentives granted by the city of
And perhaps more telling is the increasing flood of incentive package that requests fielded monthly by cities’ economic development corporations, economic development offices or chambers of commerce.
Local experts like Bruce C. Payne, interim economic development manager for the Arlington Chamber of Commerce, say the competiveness of cities trying to recruit companies is not a new game, but it certainly has increased in this down economy.
“This is something the Dallas Chamber and the Fort Worth Chamber has been trying to get our heads around,” he said. “We are surrounded by cities that can incent a deal much more aggressively than the cities of
“The bottom line is we all benefit,” Berzina said of a company relocating to the Metroplex. “The regionalism concept has significant merit, but I would submit that Dallas-Fort Worth has one of the more competitive and compelling markets … Here you’ve got over 100 municipalities and I would submit that 30 are able to compete with anyone in the country and all of them have a formidable tool chest of incentives and are extremely aggressive.”
5. Regional development quangos are to be scrapped. Why not replace them with regional assemblies? - Telegraph.co.uk -
… put simply, the RDAs are quangos established to promote economic development around the country, via six different government departments and with a £2 billion budget. They also distribute EU largess, which is why across the country one sees little EU flags on building sites suggesting that Brussels is subsidising England. …
But are they being abolished purely for financial reasons? Left-Foot Forward suggests otherwise: “Philosophically, the Conservatives see RDAs as a Trojan horse for wider regionalism, which they abhor in their marrow,” the leading pro-Labour blog stated last week. “Despite themselves setting up Government Offices in the regions in 1994, their instincts remain resolutely centralist.”
That was certainly true once, but the problem with this theory is that the RDAs largely exist because voters in English regions rejected proposals for regional assemblies, and so, rather than just scraping the idea, those powers were transferred to unelected bodies.
And one can see how undemocratic and unaccountable these bodies are merely by the names they chose for themselves and the language they used. The
But are the Tories opposed to regionalisation? I don’t see why. Personally I think a federal United Kingdom is a great idea, but it has to be authentically democratic, not a collection of talking shops comprising local councillors and quangocrats, which is what Labour’s original plans entailed.
There’s no reason why
6. Eric Pickles
Joe Public Blog - Guardian.co.uk
In the brave new world of the communities and local government secretary, Eric Pickles, "local" is the new mantra. The adjective seems to transcend all policy. Missives, castigating anything reeking of "regionalism" – with the exception of Greater London – fly out daily from his department
The bullish minister sees the concept of regions as a defining ideological divide between the coalition and the previous government. Regional housing targets, strategic planning, and regional development agencies are all heading for the bin.
But single-minded cabinet ministers sometimes have a habit of missing the bigger picture. Almost two months into a new government, we are entitled to ask if this obsession with localism is in danger of doing some regions a grave disservice.
Pickles underlined a message for sweeping economies in local government today when he opened the Local Government Association annual conference by calling on English councils to share administrative functions as well as chief executives and senior officials. …
Everything is now local. … No more diktats from the centre, he stressed. "Now it
Pickles has a golden opportunity to deliver on this front, moving from rhetoric to reality – in the form of a blueprint on his desk for a new, combined authority embracing the 10 councils in Greater Manchester (Tory, Labour and Lib Dem). They want the government to give legislative weight to this emerging strategic partnership, delivering new powers over transport and the local economy similar to those enjoyed by the Greater London authority.
Equity demands a positive response.
7. Ground broken for regional jail - South Hill Enterprise -
Brunswick County Administrator Charlette Woolridge, who serves as Chair of the Meherrin River Regional Jail Authority, welcomed elected and appointed officials and guests. She said the new regional jail facility will be constructed on approximately 126 acres. The jail will serve a total rated capacity of 400 general purpose beds, 340 for males and 60 for females. … Authority members, which consists of representatives from Brunswick, Dinwiddie and Mecklenburg counties joined forces about four years ago to develop a plan for a regional jail to deal with the fact that our current jails are overcrowded and inadequate resulting in our counties having to expend significant funds to send inmates to other facilities for incarceration,” Woolridge said. “The project we are celebrating today is the result of effective leadership, foresight and careful planning. The members of the Authority have had a special role in getting this project to today’s ceremony.”
Sheriff Roberts said he has been working on the project for seven years.
“I am 35 so that is 1/5 of my life I have been working on this project. This is a great example of collaboration. … The new jail will mean we can offer more services. We are limited now. Being able to offer more services will hopefully make society better as a whole,” …
“The physical conditions of all of the facilities were the issue. … Money is tight and we were spending money in an inefficient way. This is a great example of regionalism. The Town of
Senator Frank Ruff (R-15th) said it was a wonderful day in Southside
8. A Tale of
It’s been almost a decade since Mass. Gov. Paul Cellucci and his counterpart in
John Rhodes has been a site selector for more than 20 years now. He says that, in this business, old perceptions, or “urban legends,” as he calls them — such as the ones contending that New England, and especially Massachusetts, is heavily unionized, and that Hartford is just a home for insurance companies — die hard.
And that’s just one of many reasons why the Knowledge Corridor, the stretch of real estate between
While there is still some doubt about just what that name says to site selectors and business owners, those who came up with it say they believe it is gaining acceptance from various constituencies.
... Blair believes the region has done well with what it’s had to work with.
“Look at the Research Triangle — it’s been 50 years since they first coined that phrase, and the state has put in a half-million dollars every year; now it’s a household name,” he said. “In one-fifth the time and with really no money, we’ve done a pretty decent job of getting our own region to recognize the brand, and a good job with national site selectors.
Summing up what officials in both Connecticut and Massachusetts have done over the past decade, Johnson said they’ve made real progress in “dissolving the border” and getting people to look not at Hartford and then Springfield, but the two cities together.
9. FEMA Ponders Regionalizing Support for Grants - HSToday.com -
The Federal Emergency Management Agency (FEMA) is set to regionalize some of its grant-making process to improve customer service to grant recipients, testified the assistant administrator in charge of the Grants Program Directorate (GPD) Tuesday.
FEMA will convene a working group to study the issue in July and hold face-to-face talks on regionalizing grants August 3-5, Elizabeth Harman told a panel of the House Homeland Security Committee. The August discussion will include representatives from FEMA headquarters, its 10 regions, and grants recipients.
But Rep. Laura Richardson (D-Calif.), chair of the Subcommittee on Emergency Communications, Preparedness and Response, was skeptical that breaking down any grants-making capability by region would be a good idea.
"I remain supportive of giving the Regions greater operational responsibility when responding to disasters. FEMA officials in the field are much-better equipped to respond to situations on the ground than officials parked in
"But non-disaster grant management is a uniquely different function than disaster response," she objected. "It is not clear to me how handing control of the grants over to the Regions will improve FEMA's grant management functions."
Ten separate FEMA regions would face difficulties in consistently interpreting and implementing grant policies,
Harman said that providing some responsibility for grants to the regions as the 10 fingertips of FEMA would improve its responsiveness to its state and local customers.
In this and section 11, links to websites of organizations are added to the news excerpt when this is the first time an organization has been found. A goal of this newsletter is to find every regional council in the
.01 40 years ago: Regionalization OKed
The ReddingPilot.com -
The following is taken from the July 9, 1970 issue of The Redding Pilot: As an issue of enduring interest here, school regionalization probably came right after budgets and zoning. The issue entered a new phase, one that may see completion of a process begun 15 years ago. On July 7, the Redding Board of Finance became the final board to approve its representative to a new committee which will consider the feasibility of total school regionalization in
.02 Regional dispatch center
Legislation needed to create a regional dispatch center for
.03 State should add incentives for regional school districts
The Globe -
THE BENEFITS of regional school systems are clear in principle but often difficult to realize in practice. It was hardly surprising recently when the Cohasset School Committee rejected
Chagrin Solon Sun - Solon, OH, USA
With all the talk of regionalism in this area, some local leaders want residents to know it is already happening here, and has been for quite some time. The Chagrin Falls Fire Department recently donated a heavy rescue vehicle to the Valley Enforcement Group, which covers more than 130 square miles and 15 communities from
.05 MWAA: Senate, limit DCA flights
The Metropolitan Washington Airports Authority called on Congress to "honor the compact it has steadfastly kept with the National Capital Region" and preserve the character and ease of service at Reagan National Airport by abandoning a plan to increase long-distance flights out of National--a plan hatched by some Western lawmakers as part of legislation funding the Federal Aviation Administration ... "These changes in flight activity could very well lead to congestion at Reagan National's terminals, parking facilities, and runways. We are very concerned that the significant proposed changes in flight rules will result in aircraft and passenger delays and added strain on security screening." It reminds Congress that the legislative body conceived of the rules in 1987 to balance "the physical limitations to Reagan National with the growth potential of
.06 Land lease rejected for drilling in
Stow Sentry -
City Council unanimously rejected an ordinance July 8 that would have awarded Beck Energy Corp. a land lease in
At first glance, the dollars to justify outsourcing police service for
.08 National Report Forecasts More Congestion, Impending Capacity Crisis
PennDOT Press Office -
Freight volume will double in 40 years, resulting in 50 percent more trucks on highways and straining air, rail and port capacity, according to a new report highlighted by Governor Edward G. Rendell. The national Unlocking Freight report was released today by the American Association of State Highway and Transportation Officials, or AASHTO. ... AASHTO’s report says that in freight movement alone, including truckers, railroad conductors, warehouse operators and many others, there are more than 10 million workers nationwide. A recent
.09 Gubernatorial candidates talk about the economy's weakest link
Susan Bartlett-I do not believe that government creates jobs; I believe that our citizens create jobs. ... As governor I would fund the regional economic development groups properly so they could spend their time helping local business. It is these regional organizations that can best assist local business people. It is also these regional groups working locally that can best develop an economic development plan for their region. The
.10 Hospital leaders join forces through committee
A new health care organization seeks to find a cure for the public’s perception of feuding between local hospitals. The Miss-Lou Regionalism Health Care Committee aims to foster a spirit of healthier competition for the sake of keeping patients in town. And the big guns from each local hospital seem to be on board. Representatives from
.11 Groups prefer GPTC as bus 'consolidator'
Gary Post Tribune -
.12 Officials walk to make Wollaston safer for pedestrians
Wicked Local-Patriot Ledger -
Regional planners and
.13 New bike racks for downtown
The city is becoming a more convenient place to bicycle.
.14 County submits projects as MARC receives more funds
Over the last year,
.15 Panel visualizes regional bicycle network
The Vindicator -
Have bicycle, will travel, whether by trail or by road, throughout Mahoning and Trumbull counties. Eastgate Regional Council of Governments released a Regional Bicycle Plan earlier this month. Eastgate is the metropolitan planning organization for both counties. "Eastgate supports the creation of a regional bicycle and pedestrian network that connects every community, regional transit, major activity centers and central business districts," the plan says. The bicycle piece will be part of a long-range transportation plan expected to be finalized in 2013. ...
.16 Mall and Shopping Center Vacancies Continue Upwards Climb
Real estate research firm Reis Inc.’s preliminary data for the second quarter of 2010 shows continued deterioration in fundamentals at neighborhood and community centers and regional malls. Vacancies at both property types rose and continue to set new records each quarter. For shopping centers, vacancies are at their highest point since 1991 and for regional malls vacancies are at their highest point since Reis began tracking the figure at the end of 1999. At neighborhood and community centers, the vacancy rate rose to 10.9 percent in the second quarter of 2010. The last time the vacancy rate reached 11 percent was in 1991. Asking and effective rents continued to decline, falling by 0.3 percent and 0.5 percent respectively. For regional malls, the vacancy rose to 9.0 percent. Asking rents fell by 0.2 percent—the seventh straight quarter of rent declines. According to the report, “The continuing plight of retail properties across the nation reflects the tepid, uneven pace of economic stabilization and recovery.” ...
.17 Offer feedback at open house
Northwest Herald -
The Chicago Metropolitan Agency for Planning is coming to
.18 Best Places to Live - 2010
CNN Money -
Best places to Live - by State
11. Other Regional Community News for Our Local Planet Contents
.01 Use regional policy to meet local goals
The communities of greater
.02 Dancing education to death
The dance to the death between
.03 Time for
The New Vision -
THE current financial crisis of the Greek government demonstrates the changing nature of the nation state as we have known it and reminds us that the world is moving into the age of the post-sovereign. An independent sovereign state within the comity of nations,
Moscow’s new plan for the North Caucasus, one developed by Presidential Plenipotentiary Aleksandr Khloponin and now backed by Prime Minister Vladimir Putin, focuses almost exclusively on promoting economic development rather than on directly combating problems there like corruption, violence, and an increasingly separate way of life. On January 23rd, “Russky Newsweek” reports today, Putin directed Khloponin and the regional development ministry to develop a new
.05 Endgame for Western Development board?
Mayo News -
AN AGENCY set up to help save western counties will have no exchequer monies in the coffers of its Investment Fund next year, The Mayo News can reveal. This is yet another blow to the future of The Western Development Commission (WDC) [ http://www.wdc.ie/ ] whose abolition has been recommended by the controversial Bord Snip Nua report, by Dr Colm McCarthy. ... Questioned on the future of the agency – that grew out of a movement led by a group of western bishops – Mr Keyes said: “Colm McCarthy made a whole suite of recommendations and among them was our abolition. We made a formal response and we have strong support from Minister Carey and the western ministers.” He confirmed that to date the WDC Investment Fund had contributed € 9 million to 19
.07 Regional wars on reality TV
Deccan Chronicle -
Indian Idol, a very popular TV show is being accused of stoking regionalism to up TRP’s. It’s a difficult one to deny when presenters introduce contestants by prefixing their geographical origins to their names, “Dakshin ka anna” or “Rajasthan ka shaan” while contestants themselves try and drum up votes for themselves by asking fans to help uphold the “image of their race”. ... “Since this is a national level contest with participants from across the country, regional feelings are bound to be there. Earlier, singers from South have lost because of lesser SMSes from other parts of the country. As a music composer I don’t like this system of judging through votes. But it is a TRP gimmick to evoke regional feeling,” says Koti, popular music director who has judged several TV music shows. ... Now in its fifth season, Indian Idol this year seems to have artificially balanced regional representation to maximize TRPs across the country: one representative each from South India, Gujarat, Bengal, Mumbai and
.08 Stephenson: Forces must not be parochial with serious organised crime
Giving the John Harris Memorial Lecture tonight, Sir Paul Stephenson said the specialist resources devoted by the police service to addressing organised crime are unco-ordinated and, in effect, inadequate and have been for many years. There are approximately 6,000 organised crime groups active in the
.09 University of the West Indies (UWI) gets support from
South Florida Caribbean News -
The University of the West Indies is getting support from
.10 T&T committed to regional unity — Suruj
.11 President attends closing session of training course for general staff
President Ali Abdullah Saleh attended on Wednesday a closing session for the training course for leaderships of general staff of the armed and security forces. In the session, president Saleh delivered a speech in which he affirmed importance of holding such training courses for the armed and security commanders, highlighting achievements taken place in the Yemeni armed forces. He called on the military and security leaderships to get further knowledge about regional and international developments. ... We have to reject culture of abhorrence, regionalism and tribalism, he said. ...
.13 CAREC Business Development Forum aims to FDI and PPP
The Business Development Forum (BDF) of the Central Asia Regional Economic Cooperation (CAREC) is to be held on 29-30 July in
.14 Korea-Japan Sign MOU on Transborder Regional Development
Arirang News -
Two regional economies in
.15 Research begins on Coast's first ever Community Plan
The Coast’s first ever Community Plan took a major step forward this weekend, as council began to survey residents on what they thought were the biggest issues facing the Region. Corporate Planning and Performance Portfolio Councillor Tim Dwyer said that the Community Plan will identify the long term vision, aspirations and priorities for this community into 2030. “Over the past few years, council has gathered extensive feedback about what residents want, think and feel on certain issues,” Cr Dwyer said. “The purpose of this survey is to ensure the accuracy of our information, fill a few gaps in our knowledge, and importantly do it before we develop the Community Plan. … “Council is required to develop a community plan under the new Local Government Act but ultimately the Community Plan is the people’s plan and a roadmap to our future. … www.sunshinecoast.qld.gov.au
Annual growth in trade between Central American countries from 1960 to the close of 2008 averaged 11.7%, increasing from $30 million to $6.3 billion. "Geography is destiny,” Napoleon would often say, and
Central America is a clearly a case in point. As far as trade is concerned, the region’s countries are one, and in terms of business it is essential to take this into account. In an article on his blog, Desde Guate (From Guatemala), Oscar E. Mendizábal summarizes 50 years of Central American integration, “a process that, in its origins, was almost parallel to the evolution of the European Union since 1957”.
.17 Hans Rosling on global population growth
TedTalks - YouTube
The world's population will grow to 9 billion over the next 50 years -- and only by raising the living standards of the poorest can we check population growth. This is the paradoxical answer that Hans Rosling unveils at TED@Cannes using colorful new data display technology (you'll see).
.18 Finally there:
What’s most remarkable about
12. Blogging about Regional Communities Contents
.01 Teamwork Makes Sense In Community Development
A regional approach to community development makes sense. I would like to give you an example of a region that’s doing things correctly. Is your community going it alone? Or are you taking a regional approach to community development? The booming region of
.02 A Better Tomorrow
It’s no secret the economy has been in a terrible state. How and when will it turn around? ... four typologies: Global City,
.03 Saving the Great Lakes from Sprawl: Balanced Growth
Someone I trust recently told me that the way to approach regionalism is through the lens of water quality. He said economic and tax sharing appeals were failing. It’s good to see the state of
.04 The Real Causes Of Our 'Jobless Recovery'
In retrospect, the artificially contrived growth environment of the 1990s was unsustainable due to a lack of sound dynamics. The nonsensical growth was based on easy money, real estate inflation, home equity extraction, the securitization of unaffordable mortgages, uncontrolled immigration by low-skill workers, and other dubious inputs. Burgeoning job growth in the financial sector served to camouflage the amount of damage wreaked upon the
.05 Regional Innovation Goes Rural
New Republic (Blog) -
One of the more gratifying aspects of the growing embrace not just by the Obama administration but Congress of regional innovation strategies (including those supporting regional industry clusters) has been the increased recognition among rural thinkers and actors that such strategies are in no way exclusively “urban” or cosmopolitan or high-tech. … Sec. Tom Vilsack’s creative Rural Innovation Initiative (see page 14 of the of the USDA Budget Summary)--a plan to increase the economic viability of rural communities by promoting a regional outlook in the planning and coordination of rural development programs at USDA. (See Chairman Rosa De Lauro’s statement on the markup). Intended to make available a pool of money to support regional planning and coordinate USDA assistance in rural communities, … the agency plans to set-aside and pool about five percent of the funding from approximately 20 existing programs for a total of $135 million and allocate these funds competitively among regional pilot projects tailored to local needs and opportunities. …
.06 Car Sharing Gets Personal, With Private Vehicles for Hire
.07 CIA, ISI: Cooperation Comes at a Price
In Homeland Security Blog
Yesterday the AP ran a story that discussed the ongoing battle between the CIA and the Pakistani ISI. In the context of the War on Terror the
13. Announcements and Regional Links. Contents
This research network is established with the aim of analyzing and discussing interregional networks involving regional actors belonging to different countries and their implications for theory and policy. In particular the hypothesis of a "virtualization" of the space for collaborative policies should be put to test.
* Nicola Bellini, Scuola Superiore Sant'Anna, Ulrich Hilpert,
* Ulrich Hilpert,
Call for papers deadline: 25th August 2010
.02 Transportation Communications Newsletter
A free daily e-mail publication which provides news and information related to all aspects of communications in the transportation field. This includes a wide variety of topics such as: public and community relations, ITS (intelligent transportation systems), traveler information, outreach, and transportation operations. All modes of transport are included.
14. Financial Crisis. Contents
.01 In praise of default - Reuters.com
The housing bubble was a massive, historic misallocation of capital. Wanting borrowers to keep paying over the odds for an asset, housing, which should be allowed to fall in price is to want to keep misallocating that capital. Rather than keeping house prices high and mortgage portfolios sound, the money that might go to repayments and interests would instead go to either consumption or investment in some other more rewarding area.
There are good reasons for the stigma against default; societies in which people can be counted on to honor their contracts generally produce better, fairer outcomes and are vastly more efficient. ... Let the bad lenders take their losses and, if need be, fail.
Jeffrey Gundlach … six ways to dig oneself out of a debt hole.
The first, growth, does not seem to be happening, at least in part because of the dead weight of debt and the lousy way it was allocated.
We are at the limits of the second, lower interest rates, so not much to hope for there.
A transfer payment from outside, the third, might work for
Increasing taxes or cutting spending, Gundlach’s fourth option, are both politically difficult and could cause a downward spiral.
We’ve already printed money, the fifth option, and in my opinion may well print a whole lot more.
Option six is default, and Gundlach predicated some form of “polite default” from the
That I am not sure about, but what is clear is that the
.02 Principles on Cross Border Supervisory Cooperation
International Organization of Securities Commissions (IOSCO)
The report and sample Memorandum of Understanding, set out how securities regulators can better build and maintain cross-border cooperative relationships that will allow them to more effectively oversee financial services providers such as investment advisers, asset managers, hedge funds, credit rating agencies, exchanges and clearing houses, that operate in multiple jurisdictions.
General Principles Relating to Cooperation
1. Authorities should, on the basis of mutual trust, consult, cooperate and be willing to share information to assist each other in fulfilling their respective supervisory and oversight responsibilities for regulated entities operating across borders, such as intermediaries, collective investment schemes, hedge funds, credit rating agencies, clearing organizations, trade warehouses and markets.
2. Where obstacles to supervisory information-sharing exist, authorities should undertake to address such obstacles.
3. Authorities should consult with each other and share risk analysis assessments and information to support the identification, assessment and mitigation of risks to markets and investors.
4. Authorities should consult, cooperate and, to the extent possible, share information regarding entities of systemic significance or whose activities could have a systemic impact on markets.
5. Authorities should cooperate in the day-to-day and routine oversight of internationally-active regulated entities.
6. Authorities should provide advance notification and consult, where possible and otherwise as soon as practicable, regarding issues that may materially affect the respective regulatory or supervisory interests of another authority.
Principles Relating to the Mechanisms for Cooperation
7. Mechanisms for supervisory cooperation should be designed to provide information both for routine supervisory purposes and during periods of crisis.
8. Authorities should undertake ongoing and ad hoc staff communications regarding globally-active regulated entities as well as more formal periodic meetings, particularly as new or complex regulatory issues arise.
9. As appropriate, authorities should enter into memoranda of understanding to share relevant supervisory information in their possession.
10. In the event of significant cross-border linkages, affiliations, combinations or mergers among regulated entities such as exchanges, intermediaries, credit rating agencies and clearing organizations, authorities should commit to and establish colleges for working together in the oversight of the combined entities.
11. IOSCO should use the Standing Committee networks for consultation in identifying, assessing, and where appropriate, addressing emerging regulatory issues and risks that may have material cross-border implications in areas such as, for example, issuer disclosure and governance, market transparency, conflicts of interest among market intermediaries and risks that may be arising on the perimeters of current regulation.
Principles Relating to the Mechanics, Process, Terms and Conditions of Cooperation
12. Requests for information should make clear the supervisory reasons underlying the requesting authority’s interest so that the requested authority is better able to understand the nature, scope and purpose of the request, whether it has a related interest in the matter, and whether it may have additional unsolicited information that may be of assistance to the requesting authority.
13. Where requested information is in the possession of unsupervised third parties, an authority should use its best efforts to gather the information or, where permitted by law, obtain that information on behalf of the requesting authority or assist the requesting authority in obtaining the information directly from the third party.
14. In connection with regulated entities that operate across borders, authorities should establish procedures for cooperation, including, where applicable, for discussion of relevant examination reports, for assistance in analyzing documents or obtaining information from a regulated entity and its directors or senior management, and for collaboration regarding the timing, scope and role of authorities with respect to any cross-border on-site visits of a regulated entity.
15. Supervisory information obtained from another authority should be used only for purposes agreed upon by the authorities.
16. Supervisory cooperation arrangements should describe the processes the parties should use if an authority subsequently determines that it needs to use requested supervisory information for law enforcement or disciplinary purposes, such as obtaining the consent of the requested authority and handling such information in accordance with the terms of existing MOUs for enforcement cooperation.
17. Authorities must establish and maintain appropriate confidential safeguards to protect all non-public supervisory information obtained from another authority.
18. Supervisory cooperation arrangements should describe the degree to which an authority may onward-share to a third party any non-public supervisory information received from another authority, and the processes for doing so (such as, for example, obtaining the consent of the requested party before onward-sharing any non-public supervisory information received). Where appropriate, authorities should consider whether abbreviated mechanisms for onward-sharing could be developed in appropriate circumstances, for example for third authorities (foreign or domestic) with a direct regulatory interest in the regulated entity.
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