The capital adequacy regulation of US broker-dealers: a comparative analysis - part 1
The capital adequacy regulation of US broker-dealers: a comparative analysis - part 1
As financial markets across the world become more integrated, the potential for financial shocks to be transmitted both from one jurisdiction to another and from one financial sector to another increases. At the same time differences in national regulatory arrangements can be the source of important competitive distortions between financial institutions. Against this background national authorities have been seeking to coordinate the regulation of securities firms and of banks undertaking securities business. This paper, which is published in two parts, aims to clarify some of the policy issues arising from recent convergence initiatives by examining the US capital adequacy rules for US investment firms and contrasting the US approach with European securities regulation as formulated in the Capital Adequacy Directive.
11-27
Dale, Richard
b637fb4c-899e-4bec-82a4-0b2ca795f7c7
1995
Dale, Richard
b637fb4c-899e-4bec-82a4-0b2ca795f7c7
Dale, Richard
(1995)
The capital adequacy regulation of US broker-dealers: a comparative analysis - part 1.
Journal of Financial Regulation and Compliance, 3 (1), .
(doi:10.1108/eb024823).
Abstract
As financial markets across the world become more integrated, the potential for financial shocks to be transmitted both from one jurisdiction to another and from one financial sector to another increases. At the same time differences in national regulatory arrangements can be the source of important competitive distortions between financial institutions. Against this background national authorities have been seeking to coordinate the regulation of securities firms and of banks undertaking securities business. This paper, which is published in two parts, aims to clarify some of the policy issues arising from recent convergence initiatives by examining the US capital adequacy rules for US investment firms and contrasting the US approach with European securities regulation as formulated in the Capital Adequacy Directive.
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Published date: 1995
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Local EPrints ID: 64665
URI: http://eprints.soton.ac.uk/id/eprint/64665
ISSN: 1358-1988
PURE UUID: 4c80331f-9156-4117-bfce-3e10af61b261
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Date deposited: 22 Jan 2009
Last modified: 15 Mar 2024 12:01
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Author:
Richard Dale
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