I have been a regulator now for nine years. But for many years before that, in an explicitly non‐regulatory career at the Bank of England, I was very conscious of the efforts being made ‐ especially between the Bank and the Federal Reserve ‐ to get a dialogue under way in what bankers now...

Purpose – To contrast the challenges for bank regulators in a physically small centre such as the Bahamas with those for regulators in New York or London. To identify how the small centres can best meet their challenges, noting especially that Basel II is going to make even more important the...

Purpose – Since, the early 1990s, emerging markets have started to play an important role in the trading of derivatives products. Despite the fact that these markets are characterized in general as illiquid, segmented, politically unstable, with lack of regulations and historical financial...

Purpose – This study aims to examine the effect of the Securities and Exchange Commission's regulation fair disclosure (Reg. FD) on analyst forecast performance for pre‐Reg. FD closed‐call (CLC) and open‐call (OPC) firms compared with the non‐conference‐call (NCC) firms in the...

Purpose – To explore the implications of financial sector convergence for corporate governance systems. Design/methodology/approach – Globalisation, regulatory harmonisation and pensions reform are driving convergence of bank and market oriented systems of corporate finance towards a hybrid...

Purpose – The purpose of this paper is to present a risk‐based approach to anti‐money laundering (AML) systems. Design/methodology/approach – The paper covers the areas of: customer due diligence, customer acceptance, risk management and implementation. Findings – Regulators and...

Purpose – This paper aims to focus on recent developments within the financial markets. Design/methodology/approach – The approach is that of critical commentary on the present situation. Findings – Current market dynamics reinforce the fact that there are few greater issues for financial...

Purpose – This paper aims to offer a commentary on recent failures in financial markets. Design/methodology/approach – The approach is that of critical commentary on the present situation. Findings – Current market dynamics reinforce the fact that there are few greater issues for financial...

Purpose – To examine the implications of the changing compliance environment confronting banks as the international anti‐money laundering/combating the financing of terrorism (AML/CFT) standards have become more rigorous and more attention is paid to integrity related concerns by supervisors...

Purpose – This paper seeks to provide insights into the current global financial crisis from an institutional theory perspective. Design/methodology/approach – The paper presents the development of key concepts using institutional theory, grounded in a discussion of the context of the...