Following the collapse of Enron, many questions have been raised as to why the UK has avoided its Enron. Many commentators have considered whether this is due to the fact that the UK's system of financial regulation relies more on a principles based system, which promotes more fairness in its...

As well as a consideration of the role contributed by national supervisors in the successful implementation and enforcement of standards, recommendations and regulations, the significance of clear and unambiguous mandates in enhancing communication between micro prudential supervisors (usually...

Despite Basel III's efforts to address capital and liquidity requirements, will the risks linked to regulatory arbitrage increase as a result of Basel III's more stringent capital and liquidity rules?As well as Basel III reforms which are geared towards greater facilitation of financial...

The incoming Labour administration in 1997 caused a stir when it gave the Bank of England additional monetary policy powers but removed the Bank's powers to regulate banking. Up till 1997, banking regulation had been the function of the Bank of England while other areas of financial services had...

This paper traces the developments that have contributed to the importance of risk in regulation. Not only does it consider theories associated with risk, it also discusses explanations as to why risk has become so important within regulatory and governmental circles. Two forms of risk...

From the responses received from the European Commission's consultation on control structures in audit firms and their consequences on the audit market, a consultation which was launched in November 2008, and whose deadline was scheduled for the end of February 2009, the role played by the...

This paper considers the need for a more pro active approach which facilitates greater on site work being carried out by supervisors - as highlighted in the Legal and General Case. It also considers the recommendations made to the UK's regulator - the FSA, and in particular to the FSA Board,...

This paper will consider whether the scope of financial regulation should be extended and if so, ways in which this could occur. In order to carry out these tasks, it will not only address problems identified from the recent crises and Basel 2, gaps which exist in some of the responses to these...

Over the years, there has been a shift from a wide command-and-control style of supervision whereby the regulator imposes detailed rules with which regulators supervise to one which consists of risk based regulatory strategies. 'Enforced Self Regulation', a regulatory strategy whereby...

Consolidating on the Symposium “The Promise and Perils of Convergence in Financial Regulation and Consumer Protection”…………………., this volume focuses exclusively on the structure of financial regulation – as well as the system of financial supervision – in incorporating the...