Designing optimal models of financial regulation in a changing financial environment

Preface -- Introduction and background to the study -- Review of the literature on self governance and corporate social responsibility -- Restoring trust in business following corporate collapses like ENRON : Sarbanes Oxley Act and principles based accounting -- Responsive regulation and corporate social responsibility : achieving right balance between persuasion and penalization -- Building on the trust of management : restoring trust in businesses through corporate governance -- Regulating stock markets and financial services : a matter of regulatory style and structure? -- Role of monetary policy in matters relating to financial stability : central banks and different policies implemented in response to the recent financial crisis -- Central bank's role and involvement in bank regulation : lender of last resort arrangements and the special resolution regime (SRR) -- The financial services authority : a model of improved accountability? -- Sarbanes Oxley, non audit services (NAS) and the mandatory rotation of audit firms -- Proposals for a new audit liability regime in Europe -- Audits, audit quality and signalling mechanisms : addressing information asymmetries in concentrated and family ownership systems/structures -- Credit risk measurement, leverage ratios and Basel III : proposed Basel III leverage and supplementary leverage ratios -- The unintended consequences and challenges of the Basel III leverage ratio : supplementary leverage ratios -- Designing regulatory policies aimed at effectively implementing mandatory audit rotation -- Conclusion and further recommendations -- References -- Index