Twin Peaks Revisited - Centre for Competition Law and Policy

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Traditional approach outmoded � Changes in industry structure � Changes in nature of products � Neither institutional nor functional approaches were adequate
Changing industry structure � Financial conglomerates � Abolition of formal (Glass-Steagall) and informal (U.K.) restrictions on investment/commercial banking combinations � Bank-insurance linkages becoming commonplace � How to obtain a “group-wide” perspective to monitor their prudential soundness? (Tripartite Group, Supervision of Financial Conglomerates, 1995)
Page 1 and 2: Michael Taylor
Page 3 and 4: Does regulatory structure matter?
Page 6 and 7: The traditional structure � Insti
Page 10 and 11: Changing nature of products � New
Page 13 and 14: The Twin Peaks alternative � Tayl
Page 15 and 16: UK single regulator � Soon after
Page 17: UK’s system pre-crisis � Clear
Page 20: New lessons from the crisis � Imp
Page 23 and 24: Justification of UK reforms � Imp
Page 25 and 26: Twin Peaks Revisited � FSA looks
Page 27: michaelwilliamtaylor@yahoo.co.uk

Twin Peaks Revisited - Centre for Competition Law and Policy

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