Explicit deposit insurance is a safety net that bank regulatory authorities use to attempt to prevent and mitigate the costs of bank failures. International experience has shown however that explicit deposit insurance can increase the risk‐taking behaviour of banks. In this paper the authors...

This paper summarises and evaluates the results of new empirical evidence serving as an input to the ongoing policy debate whose central objective is to design an efficient overall governance structure to reduce fraud in financial institutions. While the focus is exclusively upon unauthorised...

This paper assesses the Cruickshank report on competition in UK banking from the perspective of a major private sector German bank. The paper starts by describing the UK market for retail banking and then the major conclusions and recommendations of the Cruickshank report. The author expresses...

The London Metal Exchange is a recognised investment exchange under s. 36 Financial Services Act 1986 and is thus exempt from any need to secure authorisation under that Act. Schedule 4 of the Financial Services Act 1986 sets out the criteria which an investment exchange must meet and fulfil on...

The claimants who were the Appellants in this case were a Mrs Gorham, widow of Mr Gorham, and her two young children. Mr Gorham had been employed by British Telecommunications plc (BT) between 2nd April, 1991 until his death on 5th September, 1994. Upon joining BT, Mr Gorham was informed by BT...

Mr and Mrs Martin, the claimants, received financial advice from Mr Sherman, a representative of the Life Association of Scotland in 1991. The long‐term insurance business of the Life Association for Scotland was transferred to Britannia Life Ltd. in 1994, hence their position as Defendant to...

Financial firms may know only too well what it is like when a supervision visit is due the next day. The compliance officer has spent the last few weeks checking files, collating what is hoped to be relevant information, briefing colleagues, trying to ensure everything is covered. Of course, the...

This paper is a development of a talk given by the author at a conference in November 2000, entitled, ‘How will T&C affect senior management? They, in particular, need to comply’. It examines and comments upon the introduction of and the interaction between the new ‘Training &...

Merger and acquisition activity among financial firms worldwide has increased sharply. The implications of this activity for bank supervisors are the focus of this paper. Topics covered are the ‘success’ of mergers, risk management, financial system stability and market liquidity.

Draft regulations published for consultation by the government under the Financial Services and Markets Act 2000 would create statutory rights of action for loss suffered as a result of regulatory breach by banks and insurers, and would extend such rights to cases where an authorised firm...