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This collection of essays provides important insights which will be of lasting value. The authors are leading figures from regulatory bodies, financial markets and academia. The main themes of The Regulation of Financial Markets include managing financial crises, the regulatory response to financial turbulence, banking regulation, the EU Financial Services Action Plan, and the evolution of regulation at the EU level.
There are several issues on which all the authors are broadly agreed: market discipline is important, regulators should not attempt to eliminate risk, and there are great benefits from financial liberalisation and globalisation. The essays offer different persectives, however, on the correct regulatory response, and other issues of importance to the future of international financial markets.
It is incrasingly common for books and papers on regulation to focus on detail and to be highly specific and technical. While The Regulation of Financial Markets does ont ignore the detail, it also considers fundamental and practical issues in regulation and provides a valuable broader perspective.
2003, ISBN 978 0 255 36551 2, 96pp, PB