The German financial system is characterized by lower degrees of penetration by foreign commercial banks and of (bank) disintermedation than, for instance, that of the United States. These differences between the two countries could be attributed to the fact that universal banking in Germany...

What are the issues? -- Investment banking : conflicts of interest in underwriting and research -- Accounting : conflicts of interest in auditing and consulting -- Conflicts of interest in universal banking -- Overview and conclusions -- Discussion and roundtable