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Following the surge in US imports from China, in November 2003 the US Committee for the Implementation of Textile Agreements (CITA) announced its decision to impose quotas restricting imports on five categories of textile and apparel products from China. Since the five categories accounted for only 0.3% of the exports in 2002, these quotas will not have a significant effect upon China. Curbing imports from China will not necessarily encourage the US textile industry to boom, instead, it will just pave the way for other low cost suppliers. The only serious repercussion will be to make US buyers wary of sourcing in China, in the eventuality of new quotas being imposed on the orders placed by them.

Several years ago, Massachusetts-based Hudson Lock moved part of its manufacturing operations to Mexico in search of lower-cost labor. Last year it shifted the work back to the U.S. The [...]

On May 13 2004, the China Insurance Regulatory Commission (CIRC) promulgated the PRC Administration of Foreign-invested Insurance Companies Implementing Rules (the Implementing Rules). The rules became effective on June 15 [...]

.. Continuing uncertainty and lessons learned from the recent crisis were addressed by senior financial regulators and a senior industry consultant at a recent New York Chapter event. The views [...]

There is an old adage in management that states: 'If we were starting out today, we wouldn't start from here.' Risk management in banks (and many other firms) is currently [...]

Byline: Kathleen E. McLaughlin, With contributions from Evan Clark, Washington BEIJING - China's recent decision to curb exports of labor-intensive, low-cost products including garments, plastics and certain types of yarns [...]

The transformation of the east European banking industry is, by all measures, remarkable. From a state-controlled era, in which often only one main bank provided both central and commercial banking [...]

CSFI REPORT BANKING BANANA SKINS 2006 The burden of excessive regulation tops the list for the second year running in London-based Centre for the Study of Financial Innovation's annual report [...]

An IFA has echoed concerns about falling business profits in the UK, believing low net-worth clients are missing out because of this. Paul White, a consultant for Belgravia Insurance Consultants, [...]

GREATER clarity is needed to prevent key facts illustrations remaining the biggest regulatory bugbear of mortgage advisers. The Council of Mortgage Lenders claimed that the first six months of statutory [...]

Regulation, as we all know, did not arrive in isolation, mainly because so many of the new rules are principle based, which makes it very difficult to pinpoint exactly what [...]

THE six-month transitional period for the new depolarisation rules comes to an end on 31 May 2005 and from 1 June we will see the dawn of a new world- [...]

MORTGAGE clubs claim to have lost millions of pounds worth of business to networks since the introduction of regulation. Prior to M-Day, many unregulated brokers who were also members of [...]

REGULATION has created the biggest source of stress for IFAs, according to some advisers. IFAs are complaining that constantly changing rules create the most angst. One of the regulatory changes [...]

A range of reports have highlighted the fact that many banks will be losing money on their payments business by the end of the decade. These reports put such trends [...]

ONCE M-Day has arrived, any adviser found helping customers with a regulated mortgage product without permission or having an exemption from the Financial Services Authority will be breaking the law. [...]

MORTGAGE broker Charcol has expressed concerns that new key facts illustration rules will delay mortgage offers after Mortgage Day. Ray Boulger, senior technical manager of Charcol, said the brokerage had [...]

FINANCIAL services companies are being battered by a tidal wave of EU regulation, according to the Confederation of British Industry. In a CBI report, Financial Services: Promoting a Global Champion, [...]

INDUSTRY comments on gold-plating of European directives on listing rules have been properly taken into account, according to the FSA. The FSA has published a second consultation paper on the [...]

THE FSA has approved a mortgage intermediary who was turned down when he applied to a network. Prestbury Financial, which has set up Solution Network, said that one individual applied [...]

REGULATORY requirements for insider lists represent a serious administrative burden for financial advisers and issuers, according to a law firm. Lovells has warned advisers, agents and investment houses that the [...]

AN IFA has blamed the introduction of financial regulations on recovery problems spreading to financial services, according to a CBI report. The performance of the financial sector has faltered with [...]

A new set of EU trade proposals for developing countries unveiled by The European Commission on Wednesday could hit imports of clothing and textiles from China and India. The new [...]

NEW YORK-With the Jan. 1 lift of global quotas on textiles and apparel imports looming, factoring firms are adjusting their businesses to survive and thrive in a manufacturing sector that [...]

Byline: Jens Meiners Carmakers could lose half their aftermarket profits because of regulatory changes to Europe's auto sales and service business, says a new study. To counter the threat, automakers [...]

An IFA is urging the industry to join forces before general insurance is regulated by the FSA next year. Kevin Carr, senior technical adviser for LifeSearch, is asking for IFAs, [...]

ONLY one company bothered to respond to a consultation paper on whether the Financial Ombudsman Service's powers should be widened. The FOS issued a consultation paper about moving National Savings [...]

MOST UK companies are still unaware of the impact of the European Union Pensions Directive, according to ABN Amro. The international bank said that the majority of UK finance directors [...]

INTERMEDIARIES are under-estimating how much FSA regulation will add to the cost of mortgages, according to Pink Home Loans. Tony Jones, managing director of Pink, said results of the group's [...]

AN FSA ban on soft commissions will cause the value of small- and mid-cap firms to tumble. Directors of asset managers and economists thought a total ban would mean fund [...]

NEW YORK -- The expiration of China's quotas in 2005 is viewed by retailers as primarily an opportunity to lower costs and improve margins. For factors, companies that take on [...]

THE government will ensure that European regulations do not hinder competitiveness in the UK. Chancellor Gordon Brown revealed last week that European legislation would be subject to tough tests before [...]

The genesis of this sponsored special supplement comes from the increasingly complex conversations that ABN AMRO has been having with its banking clients and with the regulatory and supervisory agencies [...]

PRODUCT details are expected to take second place to regulatory demands in 2004. According to Susan Colley, managing director of intermediary West Country Health Care, many brokers are ill prepared [...]

The appliance industry must increase its participation in the processes that affect its playing field to ensure a fairer appliance market. Appliance companies must increase participation in environmental health and safety issues and in industry trade associations.

NYSE-Euronext may have grabbed headlines in June, but leading European market participants would rather see attention focused on the sweeping restructuring of the continent's financial markets known as the Markets [...]

The Office of the U.S. Trade Representative (USTR) and the U.S. Department of Agriculture received assurances Aug. 26 from China's government that new Chinese import regulations will not interfere with [...]

The increasing cost of the research and development in the pharmaceutical industry is a cause of concern, and requires a review of the current regulatory system. The transparency in the research spending of the companies is emphasized.