In this paper we disagree with the proposal in the Financial Conduct Authority's consultation paper CP19/4 to exclude the head of legal of regulated firms from the Senior Manager and Certification Regime (“SM&CR”). We argue that there are benefits to inclusion; from the perspective of...

A striking and unexpected feature of the financial crisis has been the sharp appreciation of the US dollar against virtually all currencies globally. The paper finds that negative US-specific macroeconomic shocks during the crisis have triggered a significant strengthening of the US dollar,...