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A New Approach To Financial Regulation
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Book Synopsis A new approach to financial regulation by : Great Britain. Treasury
Download or read book A new approach to financial regulation written by Great Britain. Treasury and published by The Stationery Office. This book was released on 2010-07-26 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This document outlines the Government's programme of reform to renew the UK's system of financial regulation. It believes that weaknesses were inherent in the tripartite approach whereby three authorities - the Bank of England, the Financial Services Authority and the Treasury - were collectively responsible for financial stability. The Government will create a new Financial Policy Committee (FPC) in the Bank of England with primary statutory duty to maintain financial stability. The FPC will be given control of macro-prudential tools to ensure that systemic risks to financial stability are dealt with. This macro-prudential regulation must be co-ordinated with the prudential regulation of individual firms. Operational responsibility for prudential regulation will transfer from the FSA to a new subsidiary of the Bank of England, the Prudential Regulation Authority. The third development is the creation of a dedicated Consumer Protection and Markets Authority (CPMA) with a primary statutory responsibility to promote confidence in financial services and markets. Protection of consumers will be delivered though a strong consumer division within CPMA. The document also covers: the issue of market regulation; co-ordination of the regulatory bodies in a potential crisis; the next steps, including public consultation, legislative passage and operational implementation. The Government will, after considering responses, produce more detailed proposals - including draft legislation - for further consultation in early 2011, with a view to having legislation on the statute book within two years.
Book Synopsis A new approach to financial regulation by : Great Britain. Treasury
Download or read book A new approach to financial regulation written by Great Britain. Treasury and published by The Stationery Office. This book was released on 2011-02-17 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: This document presents more detailed proposals for financial regulation following on from the consultation paper "A new approach to financial regulation: judgment, focus and stability" (July 2010, Cm. 7874, ISBN 9780101787420) and continuing policy development by the Treasury, Bank of England and Financial Services Authority. The Government's reforms focus on three key institutional changes. First, a new Financial Policy Committee (FPC) will be established in the Bank of England, with responsibility for 'macro-prudential' regulation, or regulation of stability and resilience of the financial system as a whole. Second, 'micro-prudential' (firm-specific) regulation of financial institutions that manage significant risks on their balance sheets will be carried out by an operationally independent subsidiary of the Bank of England, the Prudential Regulation Authority (PRA). Thirdly, responsibility for conduct of business regulation will be transferred to a new specialist regulator, the Financial Conduct Authority (FCA). Individual chapters cover: Bank of England and Financial Policy Committee; Prudential Regulation Authority; Financial Conduct Authority; regulatory process and co-ordination; compensation, dispute resolution and financial education; European and international issues; next steps; how to respond; impact assessment. The chapters contain significant detail on how the legislative framework will be constructed in order to deliver the Governments' priorities for the framework. The Government will consult on these proposals with a view to publishing a draft bill in spring 2011.
Book Synopsis Principles of Financial Regulation by : John Armour
Download or read book Principles of Financial Regulation written by John Armour and published by Oxford University Press. This book was released on 2016 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis of 2007-9 revealed serious failings in the regulation of financial institutions and markets, and prompted a fundamental reconsideration of the design of financial regulation. As the financial system has become ever-more complex and interconnected, the pace of evolution continues to accelerate. It is now clear that regulation must focus on the financial system as a whole, but this poses significant challenges for regulators. Principles of Financial Regulation describes how to address those challenges. Examining the subject from a holistic and multidisciplinary perspective, Principles of Financial Regulation considers the underlying policies and the objectives of regulation by drawing on economics, finance, and law methodologies. The volume examines regulation in a purposive and dynamic way by framing the book in terms of what the financial system does, rather than what financial regulation is. By analysing specific regulatory measures, the book provides readers to the opportunity to assess regulatory choices on specific policy issues and encourages critical reflection on the design of regulation.
Book Synopsis A new approach to financial regulation by : Great BritainH.M. Treasury
Download or read book A new approach to financial regulation written by Great BritainH.M. Treasury and published by The Stationery Office. This book was released on 2011-06-16 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: This white paper and draft Bill present more detailed proposals for financial regulation reform following on from the consultation paper 'A new approach to financial regulation: judgment, focus and stability' (July 2010, Cm. 7874, ISBN 9780101787420); 'A new approach to financial regulation: building a stronger system' (May 2011, Cm. 8012, ISBN 9780101801225) and continuing policy development by the Treasury, Bank of England and Financial Services Authority. Responsibility for financial stability will rest within the Bank of England, in a new macroprudential body, the Financial Policy Committee, and a new micro-prudential supervisor, the Prudential Regulation Authority. Responsibility for conduct of business will sit with the new Financial Conduct Authority, with the mandate and tools to be a proactive force for enabling the right outcomes for consumers and market participants, including through the promotion of competition. Final responsibility for the overall regulatory framework, and the protection of the public finances remains with the Treasury, and the Chancellor of the Exchequer. An Independent Commission on Banking has also been established to consider what steps should be taken to deal with systemically important banks, alongside the question of whether and how competition in the banking sector should be improved. The Commission proposes: that the most systemically important banks hold additional capital to the Basel III minimum, to make them better at absorbing losses and less likely to fail; 'bail-in' instead of bail-out - so that private investors, not taxpayers, bear the losses if things do go wrong; and putting a ring-fence around high street banking to make it safer and to make it easier to allow a bank to fail without disrupting crucial banking services.
Book Synopsis Financial Regulation and Supervision by : Eddy Wymeersch
Download or read book Financial Regulation and Supervision written by Eddy Wymeersch and published by OUP Oxford. This book was released on 2012-08-16 with total page 659 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive account of financial regulation and supervision in times of crisis analyses the complex changes under way regarding the new financial regulatory structures in the EU. Focusing on the organisation of financial supervision, it deals with the background to the reforms, the architecture of the regulatory system, the likely implications for the financial institutions and the challenge of international co-operation. Changes in the US have been heavily criticised and in Europe a brand new regulatory system with three new regulatory agencies and a systemic risk board has been developed. National systems are in the process of being updated. International cooperation, although still difficult, has made progress, with the Financial Stability Board now acting on behalf of the G.20. Central bank cooperation has improved significantly and in the meantime, sectoral regulations are being adapted in full speed, such as Basel III, AIDMD, MiFID and many others. This book gives an overall view of these complex changes. The first section of the book provides an assessment of the reforms and considers the background to their making. In the section on regulatory structure there is analysis of the new regulatory bodies, their complex competences and actions. The book also takes a critical look at their likely effectiveness. The final section of the work considers the actual implementation of the new rules in a cross-border context.
Book Synopsis A new approach to financial regulation by : Great Britain. Treasury
Download or read book A new approach to financial regulation written by Great Britain. Treasury and published by The Stationery Office. This book was released on 2012-01-27 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: This document accompanies the introduction into Parliament of the Financial Services Bill (HC Bill 278, session 2010-12, ISBN 9780215039545 and Explanatory notes Bill 278-EN, ISBN 9780215039132) and explains the Government's final proposals to reform the failed system of financial services regulation. These proposals follow on from extensive consultation, and a draft of the Bill was subject to pre-legislative scrutiny by a Joint Committee (report published as HL Paper 236/HC 1447, ISBN 9780108474064). This document details the main changes the Government is making to the Bill. Chapters cover: Bank of England and Financial Policy Committee; Prudential Regulation Authority; Financial Conduct Authority; regulatory processes and coordination; European and international regulation. Annexes include the Government's responses to the Joint Committee and to the Treasury Committee's inquiries into financial services regulation. The core proposals are: to establish a strong and expert macro-prudential authority, the Financial Policy Committee within the Bank of England to monitor and respond to systemic risks; to transfer responsibility for micro-prudential management of firms that manage complex risks on their balance sheets to a focused new regulator, the Prudential Regulatory Authority; and to provide for a focused new conduct of business regulator, the Financial Conduct Authority, to ensure that business across financial services and markets is conducted in a way that advances the interests of all users and participants. In any future crisis it will be clear that the Chancellor of the Exchequer is in charge. Regulation of consumer credit will be brought within the remit of the Financial Conduct Authority.
Book Synopsis Estimating the Costs of Financial Regulation by : Mr.Andre Santos
Download or read book Estimating the Costs of Financial Regulation written by Mr.Andre Santos and published by International Monetary Fund. This book was released on 2012-09-11 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
Book Synopsis Financial Regulation by : Orice M. Williams
Download or read book Financial Regulation written by Orice M. Williams and published by DIANE Publishing. This book was released on 2009 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. and other countries are in the midst of the worst financial crisis in more than 75 years. While much of the attention of policymakers has been focused on taking short-term steps to address the immediate nature of the crisis, these events have served to strikingly demonstrate that the current U.S. financial regulatory system is in need of significant reform. This report: (1) describes the origins of the current financial regulatory system; (2) describes various market developments and changes that have created challenges for the current system; and (3) presents an evaluation framework that can be used to shape potential regulatory reform efforts. An important and thorough review of the issues related to regulatory reform. Charts and tables.
Book Synopsis The Behavioural Finance Revolution by : Riccardo Viale
Download or read book The Behavioural Finance Revolution written by Riccardo Viale and published by Edward Elgar Publishing. This book was released on with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial markets are complex. Regulators strive to predict ways in which they can malfunction and create rules to prevent this from happening, yet behavioural impacts are often overlooked. This book explores how behavioural finance can go hand-in-hand with traditional methods to help banks and regulators create better policies. It also demonstrates how the behavioural finance revolution has opened the way to a more integrated approach to the analysis of economic phenomena.
Book Synopsis Rethinking Financial Regulation by : Hester Peirce
Download or read book Rethinking Financial Regulation written by Hester Peirce and published by . This book was released on 2016-12 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Market Regulation and Reforms in Emerging Markets by : Masahiro Kawai
Download or read book Financial Market Regulation and Reforms in Emerging Markets written by Masahiro Kawai and published by Brookings Institution Press. This book was released on 2011 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In the wake of the global financial crisis that began in 2008, offers a systematic overview of recent developments in regulatory frameworks in advanced and emerging-market countries, outlining challenges to improving regulation, markets, and access in developing economies"--Provided by publisher.
Download or read book The Money Problem written by Morgan Ricks and published by University of Chicago Press. This book was released on 2016-03-09 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: An “intriguing plan” addressing shadow banking, regulation, and the continuing quest for financial stability (Financial Times). Years have passed since the world experienced one of the worst financial crises in history, and while countless experts have analyzed it, many central questions remain unanswered. Should money creation be considered a “public” or “private” activity—or both? What do we mean by, and want from, financial stability? What role should regulation play? How would we design our monetary institutions if we could start from scratch? In The Money Problem, Morgan Ricks addresses these questions and more, offering a practical yet elegant blueprint for a modernized system of money and banking—one that, crucially, can be accomplished through incremental changes to the United States’ current system. He brings a critical, missing dimension to the ongoing debates over financial stability policy, arguing that the issue is primarily one of monetary system design. The Money Problem offers a way to mitigate the risk of catastrophic panic in the future, and it will expand the financial reform conversation in the United States and abroad. “Highly recommended.” —Choice
Book Synopsis The Oxford Handbook of Financial Regulation by : Niamh Moloney
Download or read book The Oxford Handbook of Financial Regulation written by Niamh Moloney and published by OUP Oxford. This book was released on 2015-08-27 with total page 900 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial system and its regulation have undergone exponential growth and dramatic reform over the last thirty years. This period has witnessed major developments in the nature and intensity of financial markets, as well as repeated cycles of regulatory reform and development, often linked to crisis conditions. The recent financial crisis has led to unparalleled interest in financial regulation from policymakers, economists, legal practitioners, and the academic community, and has prompted large-scale regulatory reform. The Oxford Handbook of Financial Regulation is the first comprehensive, authoritative, and state of the art account of the nature of financial regulation. Written by an international team of leading scholars in the field, it takes a contextual and comparative approach to examine scholarly, policy, and regulatory developments in the past three decades. The first three parts of the Handbook address the underpinning horizontal themes which arise in financial regulation: financial systems and regulation; the organization of financial system regulation, including regional examples from the EU and the US; and the delivery of outcomes and regulatory techniques. The final three Parts address the perennial objectives of financial regulation, widely regarded as the anchors of financial regulation internationally: financial stability, market efficiency, integrity, and transparency; and consumer protection. The Oxford Handbook of Financial Regulation is an invaluable resource for scholars and students of financial regulation, economists, policy-makers and regulators.
Book Synopsis The Foundations and Future of Financial Regulation by : Mads Andenas
Download or read book The Foundations and Future of Financial Regulation written by Mads Andenas and published by Routledge. This book was released on 2013-11-20 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial regulation has entered into a new era, as many foundational economic theories and policies supporting the existing infrastructure have been and are being questioned following the financial crisis. Goodhart et al’s seminal monograph "Financial Regulation: Why, How and Where Now?" (Routledge:1998) took stock of the extent of financial innovation and the maturity of the financial services industry at that time, and mapped out a new regulatory roadmap. This book offers a timely exploration of the "Why, How and Where Now" of financial regulation in the aftermath of the crisis in order to map out the future trajectory of financial regulation in an age where financial stability is being emphasised as a key regulatory objective. The book is split into four sections: the objectives and regulatory landscape of financial regulation; the regulatory regime for investor protection; the regulatory regime for financial institutional safety and soundness; and macro-prudential regulation. The discussion ranges from theoretical and policy perspectives to comprehensive and critical consideration of financial regulation in the specifics. The focus of the book is on the substantive regulation of the UK and the EU, as critical examination is made of the unravelling and the future of financial regulation with comparative insights offered where relevant especially from the US. Running throughout the book is consideration of the relationship between financial regulation, financial stability and the responsibility of various actors in governance. This book offers an important contribution to continuing reflections on the role of financial regulation, market discipline and corporate responsibility in the financial sector, and upon the roles of regulatory authorities, markets and firms in ensuring the financial health and security of all in the future.
Author :New York University Stern School of Business Publisher :John Wiley & Sons ISBN 13 :0470949864 Total Pages :592 pages Book Rating :4.4/5 (79 download)
Book Synopsis Regulating Wall Street by : New York University Stern School of Business
Download or read book Regulating Wall Street written by New York University Stern School of Business and published by John Wiley & Sons. This book was released on 2010-10-28 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experts from NYU Stern School of Business analyze new financial regulations and what they mean for the economy The NYU Stern School of Business is one of the top business schools in the world thanks to the leading academics, researchers, and provocative thinkers who call it home. In Regulating Wall Street: The New Architecture of Global Finance, an impressive group of the Stern school’s top authorities on finance combine their expertise in capital markets, risk management, banking, and derivatives to assess the strengths and weaknesses of new regulations in response to the recent global financial crisis. Summarizes key issues that regulatory reform should address Evaluates the key components of regulatory reform Provides analysis of how the reforms will affect financial firms and markets, as well as the real economy The U.S. Congress is on track to complete the most significant changes in financial regulation since the 1930s. Regulating Wall Street: The New Architecture of Global Finance discusses the impact these news laws will have on the U.S. and global financial architecture.
Book Synopsis Financial Regulation at the Crossroads by : Panagiotis Delimatsis
Download or read book Financial Regulation at the Crossroads written by Panagiotis Delimatsis and published by Kluwer Law International B.V.. This book was released on 2011-04-01 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings outstanding expertise and provides insightful perspectives from nineteen authors with diverse backgrounds, including officials from international organizations, national regulators, and commercial banking, as well as academics in law, economics, political economy, and finance. The authors not only shed light on the causes of the financial turmoil, but also present thoughtful proposals that contribute to the future policy debate, and discuss opportunities that financial services can offer in funding activities which raise standards of living through initiatives in microfinance, renewable energy, and food distribution. The contributions to this volume tackle several of the thorniest issues of financial regulation in a post-crisis environment, such as: the mechanics of contagion within the financial system and the role of liquidity; moral hazard when large financial institutions are no longer subject to the disciplinary effects of bankruptcy; bank capital requirements; management compensation; design of bank resolution schemes; a function-centric versus institution-centric regulatory approach; subsidization and compatibility of stimulus packages with EU rules on state aid; trade finance and the role of the GATS prudential carve-out; and the role of financial services in promoting human rights or combating climate change.
Book Synopsis The Cambridge Handbook of Twin Peaks Financial Regulation by : Andrew Godwin
Download or read book The Cambridge Handbook of Twin Peaks Financial Regulation written by Andrew Godwin and published by Cambridge University Press. This book was released on 2021-07-15 with total page 595 pages. Available in PDF, EPUB and Kindle. Book excerpt: First proposed in 1994, the Twin Peaks model of financial system regulation employs two specialist peak regulators: one charged with the maintenance of financial system stability, and the other with market conduct and consumer protection. This volume, with contributions from over thirty scholars and senior regulators, provides an in-depth analysis of the similarities and differences in the Twin Peaks regimes that have been adopted around the world. Chapters examine the strengths and weaknesses of the model, provide lessons from Australia (the first to adopt the model), and offer a comparative look at the potential suitability of the model in leading non-Twin Peaks jurisdictions. A key resource for central bankers, public policy analysts, lawyers, economists, politicians, academics and students, this work provides readers with a comprehensive understanding of the Twin Peaks model, and a roadmap for countries considering its adoption.
