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The capital adequacy regulation of US broker-dealers: a comparative analysis - part 1

Dale, Richard (1995) The capital adequacy regulation of US broker-dealers: a comparative analysis - part 1 Journal of Financial Regulation and Compliance, 3, (1), pp. 11-27. (doi:10.1108/eb024823).

Record type: Article


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


Local EPrints ID: 64665
ISSN: 1358-1988
PURE UUID: 4c80331f-9156-4117-bfce-3e10af61b261

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Date deposited: 22 Jan 2009
Last modified: 17 Jul 2017 14:12

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Author: Richard Dale

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