In light of on-going global financial crises, the institutional structure of financial regulation is currently a subject of significant academic and practical interest. The financial crisis has called into question the adequacy of financial regulation at the national and supranational levels, and has instigated financial regulatory reforms in major markets overseas. This has included the enactment of the Dodd-Frank Act in the US, and the programme to split the Financial Services Authority in the UK.This book examines the institutional structure reform of financial regulation from a comparative perspective, exploring both fundamental theories and international experiences. The book explores the three main institutional structures of financial regulation in the world; the sectors-based model, adopted in the US, Mainland China and Hong Kong; the twin-peaks model with Australia and the Netherlands as its pioneers; and the single-regulator model as represented by the former Financial Services Authority in the UK and the Financial Services Agency in Japan.The book contains contributions from renowned experts in the field of financial regulation including Douglas Arner, Jeffrey Carmichael, Robin Hui Huang, Dirk Schoenmaker, and Michael Taylor, and will be of interest to students and researchers of banking and finance law, and comparative economics.
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Introduction, Robin Hui Huang and Dirk Schoenmaker 1. Regulatory Reform After the Financial Crisis: Twin peaks revisited, Michael Taylor, 2. Financial stability and proper business conduct: Can supervisory structure help to achieve these objectives?, Dirk Schoenmaker and Jeroen Kremers 3. Rules, Discretion, and Macro-Prudential Policy, Itai Agur and Sunil Sharma 4. Helping Hand or Grabbing Hand? Supervisory Architecture, Financial Structure and Market View, Donato Masciandaro and Marc Quintyn 5. Implementing Twin Peaks: Lessons from Australia, Jeff Carmichael 6. The Break-up of the Financial Services Authority in the UK, Eilis Ferran 7. One Step Forward, Two Steps Back? The Institutional Structure of U.S. Financial Services Regulation After the Crisis of 2008, Saule T. Omarova 8. Evolving Supervisory and Regulatory Approaches of Japan in The Post-Crisis Era, Mamiko Yokoi-Arai and Tetsuo Morishita 9. Financial Regulatory Structure in Hong Kong: Looking Forward, Douglas W. Arner and Evan Gibson 10. Institutional Structure of Financial Regulation in China: Where Is It Now and Where Is It Heading?, Robin Hui Huang
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Produktdetaljer

ISBN
9780415726870
Publisert
2014-06-19
Utgiver
Vendor
Routledge
Vekt
680 gr
Høyde
234 mm
Bredde
156 mm
Aldersnivå
U, 05
Språk
Product language
Engelsk
Format
Product format
Innbundet
Antall sider
280

Biographical note

Robin Hui Huang is at the Faculty of Law, Chinese University of Hong Kong. Dirk Schoenmaker is Dean of the Duisenberg School of Finance. He is also a professor of Finance, Banking and Insurance at the VU University Amsterdam and a member of the Advisory Scientific Committee of the European Systemic Risk Board at the ECB.