Twin Peaks Revisited - Centre for Competition Law and Policy
Twin Peaks Revisited - Centre for Competition Law and Policy
Twin Peaks Revisited - Centre for Competition Law and Policy
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Changing nature of products<br />
� New financial products that overlapped conventional<br />
deposit/insurance/securities boundaries<br />
� E.g. Credit Default Swaps – credit or insurance?<br />
� Especially problematic <strong>for</strong> consumer protection – who<br />
regulates which product?<br />
� But also a systemic dimension – OTC (over-thecounter)<br />
derivatives markets increased the<br />
interconnectedness of institutions, banks <strong>and</strong> nonbanks
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