Financial Conglomerates and the Chinese Wall: Regulating Conflicts of Interest

Financial Conglomerates and the Chinese Wall: Regulating Conflicts of Interest

by Harry McVea
     
 

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

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

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