Journal of Financial Regulation and Compliance: Volume 12 Issue 2

Does regulation make it worse?

David Jackman

What is the purpose of regulation? What are we really trying to achieve? What should the world look like after it has been regulated? Many “stakeholders” assent to the concept of…

Collective action with respect to bonds issued under German law

Hendrik Haag, Daniel Weiβ

Bonds governed under German law would normally not contain collective action clauses, ie provisions dealing with majority decisions by bondholders by which certain bond terms may…

Constraints on discretion: Distributing surplus in with‐profits life insurance

Chris O’Brien

When Equitable Life went to court in a case concerning the bonus rates it applied to pension policies with guaranteed annuity options, it emphasised that its rules gave it wide…

Duties of insurance brokers

John Virgo, Philip Ryley

In this brief paper the authors consider the duties owed by professional indemnity insurance brokers to their insured clients. Given the prevalence of claims for financial…

Predictable pricing errors and fair value pricing of US‐based international mutual funds

Timothy E. Jares, Angeline M. Lavin

Fair value pricing is a critical issue for mutual funds with international market exposure because trading in the underlying foreign securities is not synchronous with US market…

Unification in financial sector supervision: The trade‐off between central bank and single authority

Donato Masciandaro

The objective of this work is to analyse worldwide trends in financial supervision architectures. The focus is on the key issue in the debate – the single supervisor versus…

Mutual fund market timing: A tale of systemic abuse and executive malfeasance

James B. McCallum

The mutual fund market timing scandal and continuing investigative probes read like a Greek tragedy. It is beyond comprehension how senior investment management executives would…