The lack of understanding of pensions amongst a large proportion of the UK adult population, combined with low levels of financial literacy generally, have been identified as significant barriers to saving for retirement. This article draws on the findings of the International Institute of...

Given that the stock market is essential for the venture capitalists to exit through an initial public offering (IPO), this study explores how the laws and regulations governing the capital markets affect the venture capital industry. The paper discusses the impact of US federal state laws and...

Compliance is key to the operation and reputation of the financial services sector and is now completely embedded in the way financial services organisations carry on investment business. It is also fundamental to the Financial Services Authority (FSA) in seeking to achieve its regulatory...

Recently the FSA made a commitment, in one of its four big investment priorities, to improve its business capability and effectiveness. A substantial part of that priority was to make the FSA “easier to do business with” from the point of view of both firms and consumers. This paper looks at...

Parts of this paper are based on a presentation on the same subject given by Stephen Manning to the Basel II & Banking Regulation conference organised by the Global Association of Risk Professionals in April 2005. The paper reflects the experiences of the authors in developing and implementing...

What does the Financial Services Authority (FSA) mean by risk-based regulation and why have it? If the regulator adopts such an approach, how should the firms it regulates react? This paper outlines the risk-based approach taken in the UK by the FSA and outlines strategies to cope with this type...

In preparing to comply with the new International Financial Reporting Standards and the Basel II Accord's capital adequacy standards, leading banks are leveraging investments in these regulations by applying risk management and capital allocation best practices to adjust pricing decisions. Among...

The use of public discipline by the FSA, usually accompanied by the imposition of a fine, has become familiar to readers of the financial press. To date the assumption has been that the use of publicity assists the FSA in achieving its objective of encouraging the development of a compliance...

This paper examines wealth effects and changes in the systematic risk associated with the return structure of the “three-pillar” functional system in Greece, resulting from the introduction of the eight major European Union Banking Directives over the period 1990-94. The findings indicate...

Sets out the main challenges facing management in the area of ethics and compliance. Discusses competitive pressures, producing goods and services responsibly, and building and keeping a good reputation. Business challenges are best met by the use of a code of ethics which involves both top-down...