Financial Regulation and the Convergence Scenario&ast

Arthur Ryan
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Arthur Ryan: Chairman and CEO, The Prudential Insurance Company, Newark, USA

The Geneva Papers on Risk and Insurance - Issues and Practice, 2001, vol. 26, issue 1, 44-53

Abstract: Convergence is the blurring of conventional boundaries separating the traditional providers of once discrete financial services. Although a relatively new phenomenon, convergence is pervasive globally, as evidenced by bancassurance in Europe and the recent spate of high-profile mergers around the world.This paper looks at the market forces driving convergence. It examines how companies are re-positioning themselves in a more global environment, and how regulators are responding to market changes in their respective countries. The paper also looks at the emerging debate over whether a new ‘financial global architecture’ is needed to meet the challenges of regulating global companies. The Geneva Papers on Risk and Insurance (2001) 26, 44–53. doi:10.1111/1468-0440.00093

Date: 2001
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