Regulatory frameworks: lessons learned
and potential implications of the Credit Crisis – References and other material
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This paper
explores the potential implications that the 2007-2009 Credit Crisis may have
on regulatory frameworks. The presentation that this paper accompanies is set
out here
(local copy).
Abstract
The recent credit crunch has highlighted vulnerabilities in
the global financial system. The general view is that ‘something ought to be
done’ to tackle these vulnerabilities, particularly in relation to banking
regulation, but there is less consensus on quite what this ‘something’ should
be. In this paper we summarise the main elements of the debate. We explore the
purpose of regulation and we consider some of the potential implications of
this debate for pension funds and insurers.