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Description of Compliance and Regulation in the International Financial Services Industry

Can compliance be turned into a competitive advantage, rather than a driver of costs? Are financial institutions merely passive recipients of government intervention or is it possible for smart corporates to play a role in shaping regulation and compliance, nationally and internationally?

This book addresses these challenges and explores all these opportunities. It provides a detailed guidance for those who are responsible for designing and applying compliance
regimes in companies. Understanding the context is essential to anyone wishing to extract value from compliance, possibly turning a cost centre into a competitive advantage.

Title Information

ISBN:

9781906403027

Pages:

224 pages

Format:

Paperback

Product Code:

289120

Publisher:

Global Professional Publishing

Published:

03/10/2008

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Contents of Compliance and Regulation in the International Financial Services Industry

Preface
Introduction
Why the economy needs to be tamed by the state
What governments should do
Abraham Maslow
Why the financial system matters
Focusing on risk

1: Banking
Banking in the USA
Banking in Australia
Banking in the United Kingdom
Banking in the Eurozone
Global institutions

2: Why regulate?
Towards a common understanding
What is regulation?
Reciprocity
The ecology of business
The new science
Why do we need regulation?

3: How do we regulate?
Taxonomy of Regulatory Models
The creeping scope of national legislation
Trade agreements, bilateral and multilateral
The World Trade Organization (WTO)
The European Union (EU)
The elements of order
Self-regulation (voluntary compliance)
Legislation
Contractual arrangements
Embedded regulation
Hybrid models
Emerging trends in developed economies and internationally
The role of the professions
Politicians
Civil servants
The tragedy of the commons - or why I learned to love regulation (mostly)

4: Enabling compliance
Design principles to enable compliance
The many guises an organization may take
The logic of self-reference

5: Generic strategies for compliance
Keep out of trouble, focus on operational excellence
How the model works
The components of the model
The Total Performance Framework
Building trust
Make a virtue of it, compliance as an element of corporate strategy
Reduce the burden - less regulation is good regulation
Play the game - developing an influencing strategy
Turning compliance into a competitive advantage
National regulation
Using technology to reduce compliance costs

Bibliography/Endnotes