This paper surveys the regulatory response to the global financial crisis with an emphasis on the regulation of the proprietary trading by banks with the speculative investment instruments. We discuss not only changes in the US regulation, but we also focus on the implementation of the Vickers...

Financial crisis is a sharp, brief, ultracyclical deterioration of all or most of a group of financial indicators – illiquidity, financial insolvencies, rate of returns, asset prices, financial institutions failures, and rush out of the real or long-term financial asset into money. Financial...