Legislative and regulatory responses to the global financial crisis from within the United Kingdom

Graeme Baber

Journal of Financial Crime, 2014, vol. 21, issue 2, 124-148

Abstract: Purpose - – The purpose of this paper is to report and review the legislative and regulatory responses to the global financial crisis (GFC) from within the United Kingdom (UK). Design/methodology/approach - – The paper observes aspects of the effect of the GFC within the UK, using economic statistics and institutional case studies. It summarises the laws that the European Union (EU) and the UK have produced in the wake of the crisis and recommends approaches to be taken from this point. Findings - – The regulators are putting in place a comprehensive, integrated framework, much of which is sensible in its content. However, this structure will be insufficient to re-establish the effective operation of the financial sector, unless firms comply with the rules and a “relationship culture” is developed. Research limitations/implications - – It is not yet clear how the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will perform and coordinate. Originality/value - – The paper presents a comprehensive review of relevant EU and UK legislation, thereby bringing readers up to date with the situation in the UK.

Keywords: Crisis; Regulation; Directive; Recommendations (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-09-2013-0053

DOI: 10.1108/JFC-09-2013-0053

Access Statistics for this article

Journal of Financial Crime is currently edited by Dr Li Hong Xing and Prof Barry Rider

More articles in Journal of Financial Crime from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().