The Trajectory of Regulatory Reform in the UK in the Wake of the Financial Crisis

Authors

  • Iain MacNeil

Keywords:

Financial regulation, regulatory reform, financial crisis, corporate governance.

Abstract

There has been much talk about regulatory reform around the world in the wake of the financial crisis but relatively little action. As a major international financial centre the UK is very much at the centre of the debate and has a particular interest in the ultimate outcome.

The financial crisis has exposed the weaknesses of ‘light-touch’ regulation and ‘principles-based’ regulation, which characterised the UK system in the pre-crisis phase. Changes to the institutional structure of regulation recently announced by the new coalition government, combined with changes to regulatory style, are likely to have far reaching consequences for the practice and intensity of regulation in the UK. This article reviews and assesses recent and proposed regulatory changes and considers the relationship between corporate governance and regulation. It evaluates the impact on the UK system of initiatives undertaken at the international and EU levels as well as various interests and incentives

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Author Biography

  • Iain MacNeil
    Alexander Stone Professor of Commercial Law, University of Glasgow, Escocia. He worked for eight years as an investment analyst in the City of London. He is the general editor of the Law and Financial Markets Review and a member of the editorial board of the Capital Mar- kets Law Journal. In 2011, Iain was appointed to the Law Panel for the UK’s Research Evaluation Framework (REF), which will undertake a review of academic research in law in 2014.

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Published

2015-06-01

Issue

Vol. 27 No. 1 (2014): VOX JURIS 27

Section

Artículos

License

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