This paper examines the creation of the Financial Services Authority, concentrating on the implications for the insurance industry and the issues that will be raised in the transition to the new regime. It concludes that a more coordinated approach to regulating financial institutions will have...

Several recent developments (notably, the breakdown of traditional distinctions between different types of financial activity, the globalisation of financial markets and increasing emphasis on systemic stability as a regulatory objective) have prompted policy‐makers to search for an...

The modernisation of the German capital market, Finanzplatz Deutschland, is under way. In the course of the 1990s, efficient organisational structures of stock and futures exchanges have been established and various equity market segments introduced. The evolution of financial markets in Germany...

The problems of the Lloyd's insurance market over the past few years have been extensively reported. The market survived nevertheless and has since undergone extensive restructuring to address the problems of the past. This has included a fundamental review of its regulatory framework. The new...

This paper considers the steps which an authorised firm should be taking to prepare for the requirements of the FSA. While neither the details of the regulatory regime, nor the new rules themselves, have been published, the FSA's concerns are clear enough. Its focus will be on the achievement of...

The Bill provides for five different ombudsman schemes and three other complaint handling schemes into a single unified scheme. All the existing schemes have different legal derivations and industry coverage; defining the scope, functions and funding of the new scheme will be a considerable...

The Financial Services and Markets Bill is an impressive attempt to revisit the field of financial regulation and to replace the existing regulatory structure with a single regulator with coherent powers. There is a danger, from the legal perspective, that the Dill is too widely drawn, vesting...

To coincide with this special issue of the Journal, this review will begin by considering some websites that are particularly relevant to the draft Financial Services and Markets Bill.