Journal of Financial Regulation and Compliance: Volume 13 Issue 2

The Lamfalussy process four years on

Alexander Schaub

The Lamfalussy process was implemented from early 2001, following the report of the Committee of Wise Men on the Regulation of European Securities Markets, chaired by Alexandre…

Radical plan for investment trust regulation

Daniel Godfrey

The paper is about HM Treasury’s consultation on the future of investment trusts regulation. The consultation follows the Treasury Select Committee’s recommendation in 2003 that…

Consumer debt in the UK: Attitudes and implications

Christine Ironfield‐Smith, Kevin Keasey, Barbara Summers, Darren Duxbury, Robert Hudson

Some sections of society have expressed concerns that consumer debt has risen to a dangerous level. However, there is little evidence regarding how consumers themselves feel about…

The interaction between FSA enforcement action and compliance culture: A help or a hindrance?

Roger Turner

The use of public discipline by the FSA, usually accompanied by the imposition of a fine, has become familiar to readers of the financial press. To date the assumption has been…

The impact of financial forecasts regulation on IPO anomalies: Evidence from Taiwan

Ya‐Fang Wang, Picheng Lee, Chen‐Lung Chin, Gary Kleinman

This study examines whether a regulation on mandatory disclosure of financial forecasts since June 1991 and further sanction imposition since March 1998 contribute to lower IPO…

The Greek three‐pillar functional system in the presence of the European Union Banking Directives

Themis D. Pantos, Reza Saidi

This paper examines wealth effects and changes in the systematic risk associated with the return structure of the “three‐pillar” functional system in Greece, resulting from the…