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Financial Conglomerates and the Chinese Wall: Regulating Conflicts of Interest
     

Financial Conglomerates and the Chinese Wall: Regulating Conflicts of Interest

by Harry McVea
 

ISBN-10: 0198257139

ISBN-13: 9780198257134

Pub. Date: 02/28/1997

Publisher: Oxford University Press, USA

While conglomerates bring with them many economic benefits, such as diversification of risk and economies of scale, they also impose such costs as systemic risk and conflict of interest abuses. This book explores how regulators can ensure that conglomerate regulation is sufficiently strong to eradicate abuses but sufficiently flexible to secure the benefits of

Overview

While conglomerates bring with them many economic benefits, such as diversification of risk and economies of scale, they also impose such costs as systemic risk and conflict of interest abuses. This book explores how regulators can ensure that conglomerate regulation is sufficiently strong to eradicate abuses but sufficiently flexible to secure the benefits of conglomeration. The Chinese Wall - a regulatory mechanism aimed at stemming the flow of information from one department in a firm to another, and reconciling conflicts of interest more generally - is singled out for special treatment.

Product Details

ISBN-13:
9780198257134
Publisher:
Oxford University Press, USA
Publication date:
02/28/1997
Pages:
304
Product dimensions:
6.38(w) x 9.50(h) x 0.90(d)

Table of Contents

Table of Casesxi
Table of Statutesxvii
Abbreviationsxxiii
1.Introduction1
2.Big Bang and Conflicts of Interest and Duty18
3.Insider Dealing: The Nature of the Problem41
4.Regulatory Approaches to Insider Dealing in the UK and the USA63
5.The Chinese Wall122
6.The Chinese Wall at General Law135
7.Legislative and Regulatory Approval of Chinese Walls in the USA and the UK171
8.The Chinese Wall: A Policy Analysis201
9.Summary and Conclusion235
Appendices
I.Schedule 8: Principles Applicable to Designated Agency's Legislative Provisions255
II.Merrill Lynch's Statement of Policy257
Bibliography259
Index271

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