Financial Conglomerates and the Chinese Wall: Regulating Conflicts of Interest

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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.

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Product Details

  • ISBN-13: 9780198257134
  • Publisher: Oxford University Press, USA
  • Publication date: 2/28/1997
  • Pages: 304
  • Product dimensions: 6.38 (w) x 9.50 (h) x 0.90 (d)

Table of Contents

Table of Cases
Table of Statues
1 Introduction 1
2 Big Bang and Conflicts of Interest and Duty 18
3 Insider Dealing: The Nature of the Problem 41
4 Regulatory Approaches to Insider Dealing in the UK and the USA 63
5 The Chinese Wall 122
6 The Chinese Wall at General Law 135
7 Legislative and Regulatory Approval of Chinese Walls in the USA and the UK 171
8 The Chinese Wall: A Policy Analysis 201
9 Summary and Conclusion 235
App. I. Schedule 8: Principles Applicable to Designated Agency's Legislative Provisions 255
App. II. Merrill Lynch's Statement of Policy 257
Bibliography 259
Index 271
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