The CII’s position paper no.1 (‘A professional body forretail financial services?’), published in October, set outan overview of the possible professional response to theFSA’s Retail Distribution Review and to the challenge ofestablishing, against the background of more...

The subprime crisis which hit the United States in summer 2007 and morphed into a full blow global financial upheaval in autumn 2008 has taken a heavy toll on the insurance industry. Some industry players with significant financial markets and banking operations were seriously damaged by the...

Open Road strongly endorses the move towards professionalism being led by CII. This is essential both in the public interest, and in the interests of CII members and the insurance and financial services industry generally. In summary the recommendations fall into six principal areas.[...]

We study a firm with ethical employees who can adopt a profitable working practice that may harm their customers. Their response to this dilemma reflects their compensation contract as well as their ethical willpower. We identify optimal compensation contracts under utilitiarian and...

This paper develops a theoretical framework to shed light on variation in credit rating standards over time and across asset classes. Ratings issued by credit rating agencies serve a dual role: they provide information to investors and are used to regulate institutional investors. We show that...

In its new form, the ISO 9001:2015 standard activates and utilizes a thought pattern based on risk assessment functioning in parallel with the implementation of the system regarding quality management. Therefore, we strive to identify the risks and opportunities associated with the processes and...

The Bank of England collects data from banks, building societies and insurance companies in the UK. We use this data to monitor and react to risks in the financial sector, and the economy more widely, and to supply data to the Office for National Statistics. We have been working with other...

This article provides an assessment of the relevance in World Trade Organization (WTO) law of the international financial standards set by the Basel Committee on Banking Supervision (Basel Committee), the International Organization of Securities Commissions (IOSCO), and the International...