Despite significant changes to the governing institutional framework and to operational procedures, a number of serious doubts remain concerning the cost‐effectiveness of banking regulation and supervision in Japan. This paper duly highlights these lingering doubts focusing, in particular, on...

This paper discusses the relationship between fraud and financial crises. Fraud is envisioned historically as a violation of trust, and the classic triangle of smuggling, contraband and enforcement sheds light on developments in the financial sphere. Schematically, fraud emerges with economic...

The staggered emergence of the new regulatory regime affecting the distribution of retail financial products in the UK is leading to industry players taking strategic decisions under increased uncertainty. While the debate over the final form of the regulation continues, this paper identifies...