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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The traditional structure<br />
� Institutional supervision or combination of<br />
institutional <strong>and</strong> functional<br />
� Institutional – <strong>for</strong> prudential soundness, e.g. separate<br />
regulations <strong>for</strong> banks, insurers, securities firms<br />
� Functional – by product type – <strong>for</strong> consumer<br />
protection purposes<br />
� E.g. UK system prior to 1997<br />
� Banking Act 1987<br />
� Financial Services Act 1986<br />
� Insurance Companies Act 1982
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