This paper, set in the context of a rationale for financial regulation, considers how the Financial Services Authority’s (the regulator) approach to establishing compliance competent organisations in the life assurance sector (the regulated) has evolved from a prescriptive approach to one of...

Regulatory forbearance was widely blamed for increasing losses to deposit insurance funds in the 1980s. As part of the legislative response, Congress created a system of Prompt Corrective Action and expanded the grounds for appointing the FDIC receiver of a bank – changes partially intended to...