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Risk, Regulation, and Investor Protection: The Case of Investment Management - Couverture rigide

Franks, Julian; Mayer, Colin

 
9780198233152: Risk, Regulation, and Investor Protection: The Case of Investment Management
Couverture rigide
ISBN 10 : 0198233159 ISBN 13 : 9780198233152
Editeur : Clarendon Press, 1990

Synopsis

This unique and authoritative study of the investment management business focuses on the use of capital requirements for investment managers as a means of investor protection. Commissioned by the Investment Management Regulatory Organization and drawing on extensive discussions with investment managers themselves, it provides an account of this burgeoning sector that is both comprehensive in its coverage and penetrating in its analysis. The authors review the way in which the investment management business is organized and its inherent risks; they examine the causes and incidence of market failures as well as the dangers to investors through mismanagement and malpractice. The book includes an extensive treatment of fraud, with a full listing of fraud cases in the UK since the early 1970s.

The report concludes with a summary of the evidence on the nature and scale of the risks faced by investors and recommendations for appropriate forms of protection; and, on the basis of existing regulatory structures in the UK and USA, sets out a proposed structure in accordance with the thrust of the authors' analysis.

While specific in its coverage, much of the argument presented here is closely applicable to other financial sectors in which regulation is a crucial issue; and it is especially pertinent to current debates on financial regulation in the run-up to the completion of the European internal market in 1992.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

This unique and authoritative study of the investment management business focuses on the use of capital requirements for investment managers as a means of investor protection. Commissioned by the Investment Management Regulatory Organization and drawing on extensive discussions with investment managers themselves, it provides an account of this burgeoning sector that is both comprehensive in its coverage and penetrating in its analysis. The authors review the way in which the investment management business is organized and its inherent risks; they examine the causes and incidence of market failures as well as the dangers to investors through mismanagement and malpractice. The book includes an extensive treatment of fraud, with a full listing of fraud cases in the UK since the early 1970s. The report concludes with a summary of the evidence on the nature and scale of the risks faced by investors and recommendations for appropriate forms of protection; and, on the basis of existing regulatory structures in the UK and USA, sets out a proposed structure in accordance with the thrust of the authors' analysis. While specific in its coverage, much of the argument presented here is closely applicable to other financial sectors in which regulation is a crucial issue; and it is especially pertinent to current debates on financial regulation in the run-up to the completion of the European internal market in 1992.

Revue de presse

'it deals with a subject of wide concern and is impressively logical' Barry Riley, Financial Times

'In spite of the less than riveting subject matter this is a thorough, well written book, which is surprisingly easy to read ... it contains a number of helpful summaries which make it a useful reference work for students and practitioners.' Gavin Gemmell, The Accountant's Magazine

'For those with little time the introduction is crisp and clear. For those with more time the analysis, evidence and arguments are developed in a logical manner.' Richard Macve, Aberystwyth University College, Accounting and Business Research

'Their report is to be highly recommended.' C.A.E. Goodhart, London School of Economics, Economica, 57, November 1990

'the collation of data and information is useful' D.H. Gowland, Economic Journal (December 1990)

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
Clarendon Press
Date d'édition
1990
Langue
anglais
ISBN 10 
0198233159
ISBN 13 
9780198233152
Reliure
Relié
Nombre de pages
240
Coordonnées du fabricant
Oxford University Press
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