The cohesive implementation of the PRA and the FCA programs to a large extent depends on the ability of the new regulators to attend to matters of their expertise while at the same time being mindful of how the entire system of financial regulation fits and works together. Although one can hope...

In 2013 the FSA will be replaced by two new regulators the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Both of them will have to cooperate and adopt a 'judgement-led' approach to regulation. The aim of this paper is to explore the nature of judgement-led...

In this essay I discuss the debate about the rationale for investor protection in the retail financial sector by means of conduct of business regulation. The two theses I examine have been heavily informed, on the one hand, by the simultaneous debate surrounding the general issue of consumer...

There are lingering concerns about the health of European banks and extensive market commentary about whether post-crisis regulatory reforms in Europe have adequately addressed these concerns. In June 2012, European policymakers released the broad outlines of a proposal for a "European banking...

This article examines the nature and rationale of judgement-led regulation but also questions the claim that this is a novel approach to regulation. Progressively, the analysis turns on the issue of its effective implementation and the interplay of discretion and data. In this connection, the...

The function of legal rules as technical instruments of social organisation and how to make them work effectively has become an increasingly importance focus of attention for those interested in regulation. This essay examines the financial regulation in the UK and in particular the regulatory...