Regulation and governance of mutual funds : United Kingdom and United States of America perspectives on investor protection
著者
書誌事項
Regulation and governance of mutual funds : United Kingdom and United States of America perspectives on investor protection
（Routledge research in finance and banking law）
Routledge, 2023
- : hbk
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注記
Includes bibliographical references (p. [231]-245) and index
内容説明・目次
内容説明
This book provides a detailed analysis of mutual fund regulations and governance in the UK from the investor protection perspective. It comprehensively describes mutual funds by their function, social utility, and legal attributes, examining the level of protection provided to retail investors under existing regulations.
Mutual funds are externally managed with fund ownership separated out from their management, which carries a potential conflict of interest between the self-interests of the fund management and each fund's investors. The book provides an in-depth analysis of this agency problem in the mutual fund industry, comparing the competing governance models in the UK and the US and the supervision of management activities. In the UK, it investigates the main governance mechanisms, including disclosure, the effectiveness of voting rights, and the role of the Financial Conduct Authority in protecting investors. It also considers the role of prudential regulations in protecting mutual fund investors, with a particular focus on risk management and mutual fund liquidity crisis. The book further investigates the impact of the withdrawal of the UK from the European Union (Brexit) on the industry and what this means for the future of the undertakings for collective investment in transferable securities (UCITS) in the UK.
The concept of mutual funds is still not clearly understood, so this book will clearly define the different legal and practical aspects of mutual funds. It will be the first substantial study of mutual fund governance mechanisms under the existing mutual fund laws and regulations in the UK.
目次
1. Introduction, PART 1: MUTUAL FUNDS: CONCEPT, GROWTH, AND HISTORY, 2. Mutual Funds: Meaning, Forms, and Operations, 3. Mutual Funds: Growth and History, PART 2: MUTUAL FUNDS REGULATION AND GOVERNANCE: THE QUEST FOR INVESTOR PROTECTION, 4. Mutual Funds Regulation: The UK, 5. Mutual Funds Prudential Regulation: The UK, 6. Governance of Mutual Funds: Comparative Accounts of the UK and US, 7. Regulation of Undertakings for Collective Investment in Transferable Securities: The EU, 8. Mutual Funds and Investor Protection in the UK: Past, Present, and Future
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