Global financial regulation : the essential guide

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書誌事項

Global financial regulation : the essential guide

Howard Davies and David Green

Polity, 2008

  • : pb

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注記

Includes bibliographical references (p. 265-274) and index

内容説明・目次

内容説明

As international financial markets have become more complex, so has the regulatory system which oversees them. The Basel Committee is just one of a plethora of international bodies and groupings which now set standards for financial activity around the world, in the interests of protecting savers and investors and maintaining financial stability. These groupings, and their decisions, have a major impact on markets in developed and developing countries, and on competition between financial firms. Yet their workings are shrouded in mystery, and their legitimacy is uncertain. Here, for the first time, two men who have worked within the system describe its origins and development in clear and accessible terms. Howard Davies was the first Chairman of the UK's Financial Services Authority, the single regulator for the whole of Britain's financial sector. David Green was Head of International Policy at the FSA, after spending thirty years in the Bank of England, and has been closely associated with the development of the current European regulatory arrangements. Now with a revised and updated introduction, which catalogues the changes made since the credit crisis erupted, this guide to the international system will be invaluable for regulators, financial market practitioners and for students of the global financial system, wherever they are located. The book shows how the system has been challenged by new financial instruments and by new types of institutions such as hedge funds and private equity. Furthermore, the growth in importance of major developing countries, who were excluded for far too long from the key decision-making for a has led to a major overhaul. The guide is essential reading for all those interested in the development of financial markets and the way they are regulated. The revised version is only available in paperback.

目次

Acknowledgements vi List of abbreviations viii Introduction 1 1 The Objectives of International Financial Regulation 7 2 The Current International Regulatory System: Theory and Practice 32 3 The International Financial Institutions and their Role in Financial Regulation 110 4 The European Union: A Special Case 127 5 Regulatory Structures in Individual Countries 155 6 The Debate on Regulatory Structure 187 7 The Need for Reform 214 Afterword 260 References 265 Index 275

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