The Foundations and Future of Financial Regulation

The Foundations and Future of Financial Regulation

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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 ala€™s seminal monograph qFinancial Regulation: Why, How and Where Now?q (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 qWhy, How and Where Nowq 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.... the UK was faced with its first bank run in decades.100 When news of Northern Rocka#39;s request for liquidity assistance by the Bank of ... a sufficiently early stage of a bank crisis, the legal framework reflects a perhaps excessive fear of systemic risk.104 We question whether ... and the payout delay, internal_market/bank/docs/guarantee/200914_en.pdf accessed 1 June 2013; Europeananbsp;...

Title:The Foundations and Future of Financial Regulation
Author:Director Center of European Law Mads Andenas, Ma Dphil PhD, Mads Andenas, Iris H-Y Chiu
Publisher:Routledge - 2013-11-20


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