Are financial services over-regulated?

Alcock, A 2003, 'Are financial services over-regulated?' , Company Lawyer, 24 , p. 132.

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As the Equitable Life saga drags on, accounting scandals break over Enron and WorldCom and allegations of self-serving analysts reports swirl around Merrill Lynch and other US investment banks, this may seem an extraordinary question to ask. But this is the very time that one must beware of the ‘dangerous dogs’ reaction1. It is easy to forget in the immediate aftermath of scandals that extra regulation may achieve little beyond satisfying the call for ‘something to be done’ and can cumulatively cost a lot, even perversely increase the chances of future disasters2. With the EU’s Financial Services Action Plan, the DTI’s consultation on Company Law, the Sandler review of savings and the FSA’s review of polarisation, Listing Rules and simplified product selling, the opportunity for radical change, good or bad, is all to apparent. This article seeks to give an overview of the current position and assess the danger of an over-reaction.

Item Type: Article
Themes: Subjects / Themes > K Law > K Law (General)
Subjects outside of the University Themes
Schools: Schools > Salford Business School > Salford Business School Research Centre
Journal or Publication Title: Company Lawyer
Publisher: Sweet & Maxwell
Refereed: Yes
ISSN: 0144-1027
Depositing User: Users 29196 not found.
Date Deposited: 25 Feb 2010 16:48
Last Modified: 16 Feb 2022 09:15

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