Market Conduct Regulation

Financial regulation can usefully be bifurcated into prudential and business conduct dimensions. The former concentrates on standards, guidelines and recommendations of best practice on capital adequacy, liquidity and solvency risk and procedures for the orderly winding down of regulated financial institutions. Market conduct regulation, on the other hand, refers to the operation of the market. Regulators are increasingly moving towards expansive definitions of what consitutes market integrity. This series explores the consequences of this move. It evaluates market conduct regulatory performance across three main areas - structure (or mandate), internal processes and managerial discretion - and five dimensions Compliance, Ethics, Deterrernce, Accountability and Risk (CEDAR).

US Regulatory Agencies Seek Comment on Proposed Rule on Incentive Compensation

Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act 2010, federal financial regulatory agencies have requested public comment on a joint proposed rule to ensure that regulated financial institutions design their incentive compensation arrangements to take account of risk.
Originally Published: 
Wednesday, March 30, 2011

Australian Treasury Releases Proposed Directors’ Liability Reforms to Harmonise Laws on Liability for Corporate Fault

The proposed Personal Liability for Corporate Fault Reform Bill 2012 (“Bill”) represents the first tranche of the Commonwealth Government’s response to the Directors’ Liability reform project, which forms part of the Council of Australian Governments’ National Partnership Agreement to Deliver a Seam
Originally Published: 
Friday, January 27, 2012

Financial Stability Oversight Council Issues Proposed Rule and Guidance on Authority to Require Supervision and Regulation of Certain Non-Bank Financial Companies

The proposed rule and attached guidance describe the manner in which the Financial Stability Oversight Council intends to apply the statutory standards and considerations, and the processes and procedures that the Council intends to follow, in making determinations under section 113 of the Dodd-Fran
Originally Published: 
Tuesday, October 18, 2011

Financial Services Authority Issues Guidance for Non-Executive Directors on Delivering Fair Treatment for Consumers of Financial Services

The Financial Services Authority has issued guidance on its expectations of Non-Executive Directors (“NED”) in delivering the appropriate management of retail conduct risk within firms.
Originally Published: 
Wednesday, November 30, 2011

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