The US Inflation Reduction Act 2022, was signed into law in August 2022. It aims amongst other objectives, “to lower energy costs for families and small businesses, accelerate private investment in clean energy solutions in every sector of the economy – as well as nationally, strengthen...

Important lessons which were drawn from the most recent GFC - notably, the growing need for accommodative policies (unconventional and conventional) to facilitate appropriate responses - given limited monetary policy spaces, the emergence, rise and evolution of private actors and their...

The need to address issues pertaining to legal uncertainty, sound governance, public policy considerations – as well as forecasting techniques as a means of mitigating uncertainties in an environment where confidence the inflation target is low, are amongst some of the objectives which this...

The incoming Labour administration in 1997 caused a stir when it gave the Bank of England additional monetary policy powers but removed the Bank’s powers to regulate banking. Up till 1997, banking regulation had been the function of the Bank of England while other areas of financial services...

This paper considers the need for a more pro active approach which facilitates greater on site work being carried out by supervisors – as highlighted in the Legal and General Case. It also considers the recommendations made to the UK’s regulator - the FSA, and in particular to the FSA Board,...

This paper traces the developments that have contributed to the importance of risk in regulation. Not only does it consider theories associated with risk, it also discusses explanations as to why risk has become so important within regulatory and governmental circles. Two forms of risk...

This paper not only considers the regulatory challenges faced by regulators, but also the potential of responsive regulation and particularly meta regulation to address these challenges. It explores developments which have necessitated a change from the traditional form of regulation, that is,...

Amongst other things, this paper aims to address complexities and challenges faced by regulators in identifying and assessing risk, problems arising from different perceptions of risk, and solutions aimed at countering problems of risk regulation. It will approach these issues through an...

This paper considers the responses of six audit firms, to the four options presented by the European Commission in reforming auditors’ liability. Whilst agreeing with a limitation in audit firms’ liability, it does not consider the means of limitation, as provided by the European Commission...

Over the years, there has been a shift from a wide command-and-control style of supervision whereby the regulator imposes detailed rules with which regulators supervise to one which consists of risk based regulatory strategies. ‘Enforced Self Regulation’, a regulatory strategy whereby...