Who Regulates Whom? PDF Download

Author: Anthony Saunders
Publisher: Beard Books
ISBN: 1587982056
Category : Business & Economics
Languages : en
Pages : 210

View

Book Description
This is a reprint of a previously published work. It deals with how emerging technologies have affected financial markets and their regualtion.

Author: Mark Jickling
Publisher: DIANE Publishing
ISBN: 1437927610
Category : Business & Economics
Languages : en
Pages : 40

View

Book Description
Federal financial regulation in the U.S. has evolved through a series of piecemeal responses to developments and crises in financial markets. This report provides an overview of current U.S. financial regulation: which agencies are responsible for which institutions and markets, and what kinds of authority they have. Contents: (1) Intro.; (2) Financial Crises, Regulatory Jurisdiction, and Systemic Risk; (3) Capital Requirements: Non-Bank Capital Requirements; (4) The Federal Financial Regulators: Banking Regulators; Non-Bank Financial Regulators; Regulatory Umbrella Groups; (5) Unregulated Markets and Institutions: Foreign Exchange Markets; U.S. Treasury Securities; OTC Derivatives; Private Securities Markets; Nonbank Lenders; Hedge Funds.

Author: Anjali Kumar
Publisher: World Bank Publications
ISBN: 9780821339404
Category : Law
Languages : en
Pages : 88

View

Book Description
World Bank Discussion Paper No. 362. There has been tremendous growth worldwide in the mobilization of financial resources outside traditional banking systems. Channeled mainly through capital markets, such rapid financial diversification is posing new challenges for regulators in many emerging markets. This document describes the various aspects and implications of this growth, reviews the regulatory framework adopted in some mature market economies, including the United States and the European Union, and discusses regulatory issues in emerging markets.

Author: United States. Congress. Senate. Committee on Banking and Currency
Publisher:
ISBN:
Category : New York stock exchange. [from old catalog]
Languages : en
Pages : 958

View

Book Description

Author: Ranald C. Michie
Publisher: Oxford University Press
ISBN: 0192639803
Category : Business & Economics
Languages : en
Pages : 762

View

Book Description
Never have financial markets been subjected to a period of change as rapid and extensive as took place from the 1970s onwards. In the 1970s global financial markets were controlled by governments, compartmentalized along national boundaries, and segregated according to the particular activities they engaged in. This all disintegrated in the decades that followed under the pressure of market forces, global integration, and a revolution in the technology of trading. One product of this transformation was the Global Financial Crisis of 2008, which exposed the fragility of the new structures created and cast a long shadow that we still live in today. The response to that crisis has shaped the global financial system, which has been tested once again by the coronavirus pandemic. However, none of the outcomes of this transformation were inevitable, despite the forces at work. They were the product of decisions taken at the time for a multitude of reasons. Banks, exchanges, and regulators were faced with unprecedented challenges and opportunities as a revolution swept away traditional ways of conducting banking, the methods used to trade in financial markets, and the rules and regulations employed to enforce discipline. In this book Ranald C. Michie provides an authoritative and unrivalled account of this upheaval based on a careful and exhaustive reading of the Financial Times over the last four decades, using it to provide a source of material unmatched by any other in terms of depth and coverage. By studying what happened and why in real time, it is possible to explain the decisions taken that shaped the course of the transformation and its repercussions.

Author: Eilís Ferran
Publisher: Hart Publishing
ISBN: 1841132799
Category : Law
Languages : en
Pages : 357

View

Book Description
The essays in this work offer a high-level examination of the most important issues facing financial services regulation,and the far-reaching effects of the Financial Services and Markets Act 2000 on the UK financial sector in the context of rapid global change. Taking an interdisciplinary approach the book includes contributions by many distinguished academic authorities on the law and economics of regulation, and also some of the most influential practitioners, regulators and policymakers. As such it provides an authoritative analysis of the underlying issues affecting the broad development of financial services regulation: the objectives of regulation, the responsibilities of the regulated community, the accountability of regulators, the regulation of electronic financial markets and the impact of stock market mergers, regional regulation within Europe, and the development of global financial regulation.

Author: Edward V. Murphy
Publisher: CreateSpace
ISBN: 9781490957739
Category : Business & Economics
Languages : en
Pages : 58

View

Book Description
Financial regulatory policies are of interest to Congress because firms, consumers, and governments fund many of their activities through banks and securities markets. Furthermore, financial instability can damage the broader economy. Financial regulation is intended to protect borrowers and investors that participate in financial markets and mitigate financial instability. This report provides an overview of the regulatory policies of the agencies that oversee banking and securities markets and explains which agencies are responsible for which institutions, activities, and markets. Banking U.S. banking regulation traditionally focuses on prudence. Banks' business decisions are regulated for safety and soundness and adequate capital. In addition, banks are given access to a lender of last resort, and some bank creditors are provided guarantees (deposit insurance). Regulating the risks that banks take is believed to help smooth the credit cycle. The credit cycle refers to periodic booms and busts in lending. Prudential safety and soundness regulation and capital requirements date back to the 1860s when bank credit formed the money supply. The Federal Reserve as lender of last resort was created following the Panic of 1907. Deposit insurance was established in the 1930s to reduce the incentive of depositors to withdraw funds from banks during a financial panic. Securities, Derivatives, and Similar Contract Markets Federal securities regulation has traditionally focused on disclosure and conflicts of interest, rather than on prudence. Securities regulation is typically designed to ensure that market participants have access to enough information to make informed decisions, rather than to limit the riskiness of the business models of publicly traded firms. Firms that sell securities to the public must register with the Securities and Exchange Commission (SEC). SEC registration in no way implies that an investment is safe, only that material risks have been disclosed. The SEC also registers several classes of securities market participants and firms. It has enforcement powers for certain types of industry misstatements or omissions and for certain types of conflicts of interest. Derivatives trading is supervised by the Commodity Futures Trading Commission (CFTC), which oversees trading on the futures exchanges, which have self-regulatory responsibilities as well. The Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) required more disclosures in the over-the-counter derivatives market than prior to the financial crisis and has granted the CFTC and SEC authority over large derivatives traders. Government Sponsored Enterprises The Federal Housing Finance Agency (FHFA) oversees a group of government-sponsored enterprises (GSEs). Two of the GSEs, Fannie Mae and Freddie Mac, securitize residential mortgages, and they were placed in conservatorship following mortgage losses in 2008. In the conservatorship, the Treasury provides financial support to the GSEs and FHFA and Treasury have managerial control over the enterprises. FHFA also regulates the Federal Home Loan Bank (FHLB) system. Changes Following the 2008 Financial Crisis The Dodd-Frank Act created the interagency Financial Stability Oversight Council (FSOC) and authorized a permanent staff to monitor systemic risk and consolidated bank regulation from five agencies to four. The DFA granted the Federal Reserve oversight authority and the Federal Deposit Insurance Corporation (FDIC) resolution authority over the largest financial firms. The DFA consolidated consumer protection rulemaking, which had been dispersed among several federal agencies, in the new Consumer Financial Protection Bureau. Special Topics The appendices in this report include additional information on topics, such as the regulatory structure prior to the Dodd-Frank Act, organizational differences among financial firms, and the rating system that regulators use to evaluate the health of banks.

Author: Richard J. Herring
Publisher: Brookings Institution Press
ISBN: 9780815791553
Category : Business & Economics
Languages : en
Pages : 236

View

Book Description
In recent years, the major industrialized nations have developed cooperative procedures for supervising banks, harmonized their standards for bank capital requirements, and initiated cooperative understanding about securities market supervision. This book assesses what further coordination and harmonization in financial regulation will be required in an era of increased globalization. A volume of Brookings' Integrating National Economies Series

Author: R. C. Michie
Publisher:
ISBN: 9780191905445
Category : Banks and banking
Languages : en
Pages : 0

View

Book Description
Never have financial markets been subjected to a period of change as rapid and extensive as took place from the 1970s onwards. Ranald C. Michie provides an authoritative account of this upheaval based on a careful reading of the Financial Times over the last four decades.

Author: Howard Davies
Publisher: John Wiley & Sons
ISBN: 0745655882
Category : Business & Economics
Languages : en
Pages : 180

View

Book Description
As international financial markets have become more complex, so has the regulatory system which oversees them. The Basel Committee is just one of a plethora of international bodies and groupings which now set standards for financial activity around the world, in the interests of protecting savers and investors and maintaining financial stability. These groupings, and their decisions, have a major impact on markets in developed and developing countries, and on competition between financial firms. Yet their workings are shrouded in mystery, and their legitimacy is uncertain. Here, for the first time, two men who have worked within the system describe its origins and development in clear and accessible terms. Howard Davies was the first Chairman of the UK's Financial Services Authority, the single regulator for the whole of Britain's financial sector. David Green was Head of International Policy at the FSA, after spending thirty years in the Bank of England, and has been closely associated with the development of the current European regulatory arrangements. Now with a revised and updated introduction, which catalogues the changes made since the credit crisis erupted, this guide to the international system will be invaluable for regulators, financial market practitioners and for students of the global financial system, wherever they are located. The book shows how the system has been challenged by new financial instruments and by new types of institutions such as hedge funds and private equity. Furthermore, the growth in importance of major developing countries, who were excluded for far too long from the key decision-making for a has led to a major overhaul. The guide is essential reading for all those interested in the development of financial markets and the way they are regulated. The revised version is only available in paperback.