Blackrock CEO: Banks Beware, Changes Are Afoot!

Blackrock CEO Laurence D. Fink was absolutely clear in his message – banks should expect to face more seizures and closures if regulatory changes come about.

It’s the dreaded “R” word – regulations. But don’t worry, you don’t need to be a banking expert to know what this means.

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So What Did He Say?

Basically, in Fink’s own words, “Regulatory changes must protect shareholders and depositors as a priority over retaining franchise value if we are to take a global approach towards reducing systemic risk”.

In essence: changes need to be made to protect unsuspecting depositors, not the big banks, if the world is going to become a safer place.

The Nitty Gritty Details

Now, if you’re a finance nerd, and you can’t get enough of the details, here’s a breakdown of what to expect:

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  • More Oversight: With regulators keeping an ever-closer-eye on the banking industry, finance firms should prepare for more scrutiny.
  • Tighter Restrictions: Banks should expect to see tougher limits on things like shareholder distributions and corporate restructuring plans.
  • Hey Big Spender: Also, measures may be taken to limit the speculative spending of large financial institutions.

Why Is Fink Freaking Out?

We can all rest easy, knowing Fink is keeping us safe from the dangers of the banking industry. He’s warning of higher standards, in the name of restoring public trust in the banking systems.

All jokes aside, Fink’s words are to be taken seriously. We’re heading for a new era of financial regulation, and banks should be ready to weather the storm.

The Call to Action

It’s time for bank CEOs to take matters into their own hands and make sure the right people are in the right positions in their organizations.

If they don’t, there will almost certainly be more seizures and closures – and who wants that? Not me.

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The conclusion is this, banks: You’ve been warned!

Don’t let Laurence Fink down.

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