By Dalvinder Singh
Dalvinder Singh presents an interdisciplinary research of the criminal elements of prudential supervision of economic financial institution conglomerates. this provides the reader a broader figuring out of the center strategies of banking supervision. by utilizing the united kingdom as a case examine, a comparative technique is made with different international locations resembling the U.S. to demonstrate the various methods of regulating a 'deregulated market'. the writer examines the theoretical, monetary, political and coverage matters that underpin the aim of prudential supervision. those views are offered interchangeably to demonstrate the real features of banking supervision. An research is made from the real positive factors of prudential supervision comparable to, company governance, enforcement sanctions, the position of exterior auditors and responsibility of monetary regulators. those are thought of within the context of broad-policy concerns which render prudential supervision helpful, specifically monetary balance and depositor defense. The e-book might be of curiosity to teachers, policymakers, regulators and practitioners. both, the paintings will serve professional undergraduate and postgraduate programmes in economics, legislations and administration which concentrate on monetary rules.
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Additional info for Banking regulation of UK and US financial markets
First, a rule needs to be ‘well-deﬁned’, ‘universally acceptable’ and appropriate to the activities of regulated parties. Secondly, the rule needs to be ‘accessible’: it needs to applicable without being burdensome. 91 Diver’s tests of the effectiveness of regulation provide a useful approach to assess the work of the FSA so far. Moreover, the structuring of regulation sheds a signiﬁcant amount of light on the way the interests of the various parties are dealt with in the ﬁnancial services industry.
Competition policy is an integral part of structuring regulation and supervision. This obligation requires the FSA to dismantle obstacles that might impede or distort that ability to compete because of the structure it has put in place. 133 It also needs to estimate the impact of a policy initiative on London (the ﬁnancial centre), and to assess the costs and beneﬁts of the burdens and restrictions which may arise if that policy were implemented. The guidance elaborates on ‘effective competition’ by highlighting the importance of achieving the best possible level of ‘social welfare’, whether for the consumer or the ﬁrm.
184 The US Approach to Bank Supervision The US system of prudential regulation and supervision of banking is without doubt a complex structure, in that it is not centralised in a single regulator but is the responsibility of a number of separate and independent regulators. 185 This is exacerbated by the fact that bank regulation and supervision are separate from other functions to ensure ﬁnancial stability, namely LOLR and deposit insurance, giving rise to competing responsibilities and claims.