Principles of Financial Regulation

Author: Hogan Lovells Professor of Law and Finance John Armour,Associate Professor of Law and Finance and Academic Director of the Msc in Law and Finance Programme Dan Awrey,Paul Davies,Allen & Overy Professor of Corporate Law Luca Enriques,Richard Paul Richman Professor of Law Jeffrey N Gordon,Peter Moores Professor of Management Studies Colin Mayer,Professor of Corporate Finance Law Jennifer Payne

Publisher: Oxford University Press

ISBN: 0198786476

Category:

Page: 520

View: 7483

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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.

The Fundamental Principles of Financial Regulation

Author: Markus Konrad Brunnermeier,Charles Goodhart,Avinash Persaud,Andrew Crockett,Hyun Shin

Publisher: Centre for Economic Policy research

ISBN: 9780955700972

Category: Business & Economics

Page: 110

View: 2060

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"Today's financial regulatory systems assume that regulations which make individual banks safe also make the financial system safe. The eleventh Geneva Report on the World Economy shows that this thinking is flawed. Actions that banks take to make themselves safer can - in times of crisis - undermine the system's stability. The Report argues for a different approach."--P. xvi.

The Oxford Handbook of Financial Regulation

Author: Eilís Ferran,Niamh Moloney,Jennifer Payne

Publisher: Oxford University Press, USA

ISBN: 019968720X

Category: Law

Page: 795

View: 9230

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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 major reoccurring 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 will be an invaluable resource for scholars and students of financial regulation, and for economists, policy-makers and regulators.

Principles of Financial Regulation

Author: Simon Gleeson

Publisher: N.A

ISBN: 9780406962966

Category: Finance

Page: 704

View: 2527

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This single portable volume, written by a leading figure in the field, takes a thematic approach to the subject matter; provides expert analysis, and succinctly identifies regulatory principles. UK regulation is a topic deserving attention from special regulatory lawers, as well as financial practitioners and general company and commercial lawyers. This text will provide practitioners with a clear understanding of the regulatory aspects of their particular specialism.

Die Alchemisten

Die geheime Welt der Zentralbanker

Author: Neil Irwin

Publisher: Ullstein eBooks

ISBN: 3843704163

Category: Business & Economics

Page: 512

View: 7107

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Ihre Aufgabe ist sensibel, ihre Macht ist groß. Ein unbedachtes Wort kann weltweit Krisen auslösen und politische Erdbeben verursachen. Jedes Jahr im August treffen sich in Jackson Hole, Wyoming – fernab der Weltöffentlichkeit –, die vierzig wichtigsten Zentralbanker der Welt. Sie stehen in dauernden Interessenkonflikten zwischen nationalen Interessen und internationalem Druck. Neil Irwin erklärt spannend und anschaulich, was Zentralbanker tun und wie es zu massiven Fehlentscheidungen kommen kann. Er beschreibt, welche großen Auswirkungen kleine Unstimmigkeiten zwischen Jens Weidmann, Mario Draghi und Ben Bernanke haben können. Und er zeigt, wie die zukünftigen Herausforderungen, Allianzen und Strategien der Zentralbanker aussehen könnten.

Institutional Structure of Financial Regulation

Theories and International Experiences

Author: Robin Hui Huang,Dirk Schoenmaker

Publisher: Routledge

ISBN: 1317910648

Category: Business & Economics

Page: 262

View: 4228

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In light of on-going global financial crises, the institutional structure of financial regulation is currently a subject of significant academic and practical interest. The financial crisis has called into question the adequacy of financial regulation at the national and supranational levels, and has instigated financial regulatory reforms in major markets overseas. This has included the enactment of the Dodd-Frank Act in the US, and the programme to split the Financial Services Authority in the UK. This book examines the institutional structure reform of financial regulation from a comparative perspective, exploring both fundamental theories and international experiences. The book explores the three main institutional structures of financial regulation in the world; the sectors-based model, adopted in the US, Mainland China and Hong Kong; the twin-peaks model with Australia and the Netherlands as its pioneers; and the single-regulator model as represented by the former Financial Services Authority in the UK and the Financial Services Agency in Japan. The book contains contributions from renowned experts in the field of financial regulation including Douglas Arner, Jeffrey Carmichael, Robin Hui Huang, Dirk Schoenmaker, and Michael Taylor, and will be of interest to students and researchers of banking and finance law, and comparative economics.

Dieses Mal ist alles anders

Acht Jahrhunderte Finanzkrisen

Author: Carmen Reinhart,Kenneth Rogoff

Publisher: FinanzBuch Verlag

ISBN: 3862484394

Category: Business & Economics

Page: 576

View: 7096

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Dieses Mal ist alles anders, dieses Mal kann es gar nicht so schlimm werden wie beim letzten Mal. Denn dieses Mal steht die Wirtschaft auf soliden Füßen und außerdem gibt es diesmal viel bessere Kontrollmechanismen als beim letzten Mal. Wann immer es in der Geschichte der Menschheit zu Krisen kam, diese oder ähnliche Sätze waren jedes Mal zu hören. Doch was ist dran an derartigen Behauptungen? Nicht besonders viel, haben Kenneth Rogoff und Carmen Reinhart herausgefunden. In akribischer Arbeit haben die beiden Autoren die Finanzkrisen der letzen acht Jahrhunderte in über 66 Ländern analysiert. In sechs Abschnitten stellen Reinhart und Rogoff ihre Untersuchungsergebnisse vor, beginnend bei den zugrundeliegenden theoretischen Ansätzen. Darauf basieren die folgenden Kapitel, in denen Auslands- und Inlandsschuldenkrisen sowie Bankenkrisen abgehandelt werden. Der vierte Abschnitt widmet sich dann auch der US-Subprimekrise und zeigt eindrucksvoll die Parallelen zu den vorhergegangenen Kapiteln. Zum Schluss ziehen die beiden Autoren die Lehren aus ihrer Untersuchung und kommen zu dem Ergebnis: Es ist dieses Mal eben doch nicht anders.

Banking and Micro-finance Regulation and Supervision

Lessons from Zambia

Author: Kenneth Kaoma Mwenda

Publisher: Universal-Publishers

ISBN: 9781581126051

Category: Business & Economics

Page: 244

View: 9590

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This book examines contemporary legal and policy issues facing banking and micro-finance supervision and regulation in Zambia. The book sets out an interdisciplinary exposition of the law. It provides an interface of financial services law and practice. Relevant aspects of business management and economic theory are examined as well. The book attempts to permeate intellectual spheres that have not been explored in depth before. In essence, this is not a simple textbook on the introductory aspects of a particular field of law, as is often the case with many books that have titles such as "Introduction to Business Law" or "Fundamentals of Tort Law", and so forth. By contrast, the book breaks new ground in the area of financial services regulation. Indeed, a law in context approach is presented, giving added value to the field of knowledge in the book.The editor brings together fresh and original contributions from leading scholars on banking and micro-finance regulation and supervision in Zambia. Each chapter is written by an expert in the field. The book provides refreshing breath on Zambian jurisprudence on subjects that have hitherto been hardly explored with intellectual zeal and insightfulness.

Requiem für den amerikanischen Traum

Die 10 Prinzipien der Konzentration von Reichtum und Macht

Author: Noam Chomsky

Publisher: Antje Kunstmann

ISBN: 3956142209

Category: Political Science

Page: 200

View: 8699

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Noam Chomsky ist der einflussreichste Intellektuelle der Vereinigten Staaten und in seinem neuen Buch befasst er sich erstmals umfassend mit dem großen Thema unserer Zeit: der sozialen Ungleichheit. Anhand von zehn Prinzipien zur Konzentration von Reichtum und Macht und mithilfe zahlreicher historischer Texte der amerikanischen Geschichte erklärt Noam Chomsky, wie der amerikanische Traum – dass jeder es mit harter Arbeit zu etwas bringen kann – in den letzten Jahrzehnten beerdigt und ein System nie da gewesener sozialer Ungleichheit errichtet wurde, von dem letztlich nur einige wenige profitieren. Requiem für den amerikanischen Traum macht die Breite und Tiefe von Noam Chomskys Denken zugänglich wie kein anderes seiner Bücher und verdeutlicht seine politischen Ideen mit einer beispiellosen Direktheit. Die Pflichtlektüre für alle, die noch Hoffnung auf eine gemeinsame, demokratische Gestaltung unserer Zukunft haben.

Financial Modernization and Regulation

A Special Issue of the Journal of Financial Services Research

Author: Robert A. Eisenbeis,Frederick T. Furlong,Simon Kwan

Publisher: Springer Science & Business Media

ISBN: 1475752288

Category: Business & Economics

Page: 232

View: 9979

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Financial systems around the world are undergoing a process of modernization due to many different forces. Advances in information technology, product and market innovations, and recent regional financial crises have contributed to this movement. As a result, evolution in the financial sector is leading to larger, more complex financial organizations that render inadequate the supervisory and regulatory structures currently in place. While some changes in regulatory policies have already occurred, the adaptation of supervisory oversight and regulation in the face of these new developments is expected to continue for many years to come. This book collects papers originally presented in September 1998 at the Financial Modernization and Regulation Conference co-sponsored by the Federal Reserve Banks of Atlanta and San Francisco. Revised before publication, the papers seek to identify the reasons for changes in the financial services sector, and the implications these changes pose for financial supervision and regulation. Taken together, the papers offer valuable insights on 1) the forces behind financial modernization; 2) the implications financial modernization poses for corporate structure, market discipline, and financial regulation; 3) how to price deposit insurance accurately to reflect banks' risk-taking; and 4) balancing private versus public interests and managing potentially conflicting public policy goals.

The Financial System and the Economy, Principles of Money and Banking

Economics, Economics

Author: CTI Reviews

Publisher: Cram101 Textbook Reviews

ISBN: 1478401273

Category: Education

Page: 348

View: 3913

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Facts101 is your complete guide to The Financial System and the Economy, Principles of Money and Banking. In this book, you will learn topics such as as those in your book plus much more. With key features such as key terms, people and places, Facts101 gives you all the information you need to prepare for your next exam. Our practice tests are specific to the textbook and we have designed tools to make the most of your limited study time.

Global Bank Regulation

Principles and Policies

Author: Heidi Mandanis Schooner,Michael W. Taylor

Publisher: Academic Press

ISBN: 9780080925806

Category: Law

Page: 352

View: 999

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Global Bank Regulation: Principles and Policies covers the global regulation of financial institutions. It integrates theories, history, and policy debates, thereby providing a strategic approach to understanding global policy principles and banking. The book features definitions of the policy principles of capital regularization, the main justifications for prudent regulation of banks, the characteristics of tools used regulate firms that operate across all time zones, and a discussion regarding the 2007-2009 financial crises and the generation of international standards of financial institution regulation. The first four chapters of the book offer justification for the strict regulation of banks and discuss the importance of financial safety. The next chapters describe in greater detail the main policy networks and standard setting bodies responsible for policy development. They also provide information about bank licensing requirements, leading jurisdictions, and bank ownership and affiliations. The last three chapters of the book present a thorough examination of bank capital regulation, which is one of the most important areas in international banking. The text aims to provide information to all economics students, as well as non-experts and experts interested in the history, policy development, and theory of international banking regulation. Defines the over-arching policy principles of capital regulation Explores main justifications for the prudent regulation of banks Discusses the 2007-2009 financial crisis and the next generation of international standards of financial institution regulation Examines tools for ensuring the adequate supervision of a firm that operates across all time zones

Canada: Financial Sector Assessment Program-IOSCO Objectives and Principles of Securities Regulation-Detailed Assessment of Implementation

Author: International Monetary Fund. Monetary and Capital Markets Department

Publisher: International Monetary Fund

ISBN: 1475518099

Category: Business & Economics

Page: 244

View: 6478

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This paper presents an assessment IMF report on implementation of the International Organization of Securities Commission (IOSCO) principles in Canada. It highlights that developing an integrated and robust view of risks to support supervisory actions remains a key challenge. The IMF report suggests that the securities regulators should continue to take steps to ensure timely decision making in policy formulation. However, the current governance arrangements, based on a consensus building approach across several entities, is expected to affect timeliness of decision making.

Principles of Banking Law

Author: Ross Cranston

Publisher: Oxford University Press

ISBN: 0199276080

Category: Business & Economics

Page: 520

View: 2756

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Written by leading figures in the field, this third edition of the Principles of Banking Law provides an authoritative account of the subject, incorporating all significant changes in banking law, regulation, and practice that have occured since the publication of the second edition in 2002. The authors offer a thoughtful and contextual treatment of domestic and international banking and financial services law, with in-depth expert coverage ofglobal bank regulation, payment systems, lending, and trade finance.

Research Handbook on International Financial Regulation

Author: Kern Alexander,Rahul Dhumale

Publisher: Edward Elgar Publishing

ISBN: 0857930451

Category: Law

Page: 464

View: 2728

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The globalisation of financial markets has attracted much academic and policymaking commentary in recent years, especially with the growing number of banking and financial crises and the current credit crisis that has threatened the stability of the global financial system. This major new Research Handbook sets out to address some of the fundamental issues in financial regulation from a comparative and international perspective and to identify some of the main research themes and approaches that combine economic, legal and institutional analysis of financial markets. Specially commissioned contributions represent diverse viewpoints on the financial regulation debate and cover a number of new and controversial topics not yet adequately addressed in the literature. Specifically, these include; financial innovation particularly in the context of the credit risk transfer market, securitization and the systemic importance of the over-the-counter trading markets; the institutional structure of international financial regulation; and risk management and corporate governance of financial institutions. This Handbook will provide a unique and fully up-to-date resource for all those with an interest in this critical issue including academic researchers in finance and regulation, practitioners working in the industry and those involved with regulation and policy.

The Rule of Law in Monetary Affairs

World Trade Forum

Author: Thomas Cottier,Rosa M. Lastra,Christian Tietje

Publisher: Cambridge University Press

ISBN: 1316061698

Category: Law

Page: 614

View: 1633

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The global financial crisis and subsequent sovereign debt crisis in Europe demonstrated that the relationship between law and economics in the design of the monetary system must be revisited. International monetary affairs are usually conducted via domestic monetary policies which are formulated by independent central banks and informed mainly by economics, without much room being left to substantive law. Based on the 2012 World Trade Forum, this volume brings together leading scholars, practitioners and policy makers in international economic law in order to examine the potential of law and legal methodology to contribute to international monetary stability. It explores the links between and lessons to be learnt from existing international investment and trading systems and studies some specific policy issues which have a direct impact on monetary affairs, such as exchange rate policy, sovereign debt, taxation, competitiveness, trade imbalances, austerity programmes and human rights.

The Regulation of International Financial Markets

Perspectives for Reform

Author: Rainer Grote,Thilo Marauhn

Publisher: Cambridge University Press

ISBN: 1139450344

Category: Law

Page: N.A

View: 1503

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International financial relations have become increasingly important for the development of global and national economies. At present these relations are primarily governed by market forces, with little regulatory interference at the international level. In the light of numerous financial crises, this abstinence must be seriously questioned. Starting with an analysis of the regulatory problems at the international level, with only minimal powers entrusted to international organisations, this book develops various possibilities for reform. On the basis of an historical analysis, the book first adopts a comparative approach to national attempts to regulate international financial markets, then outlines the potential of relevant institutions and finally develops a policy perspective. It seeks to provide a framework for analysing options for the regulation of international financial markets from a public international law and comparative law perspective.