Global Financial Regulation: The Essential Guide (now With A Revised Introduction)
by Howard Davies /
2008 / English / PDF
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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.
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.
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.
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 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.
The revised version is only available in paperback.