Regulating (From) the Inside
The Legal Framework for Internal Control in Banks and Financial Institutions
Nonfiction, Reference & Language, Law, Banking
| Author: | Dr Iris H-Y Chiu | ISBN: | 9781509901395 |
| Publisher: | Bloomsbury Publishing | Publication: | November 5, 2015 |
| Imprint: | Hart Publishing | Language: | English |
| Author: | Dr Iris H-Y Chiu |
| ISBN: | 9781509901395 |
| Publisher: | Bloomsbury Publishing |
| Publication: | November 5, 2015 |
| Imprint: | Hart Publishing |
| Language: | English |
This book examines a key aspect of the post-financial crisis reform package in the EU and UK-the ratcheting up of internal control in banks and financial institutions. The legal framework for internal controls is an important part of prudential regulation, and internal control also constitutes a form of internal gate-keeping for financial firms so that compliance with laws and regulations can be secured. This book argues that the legal framework for internal control, which is a form of meta-regulation, is susceptible to weaknesses, and such weaknesses are critically examined by adopting an interdisciplinary approach. The book discusses whether post-crisis reforms adequately address the weaknesses in regulating internal control and proposes an alternative strategy to enhance the 'governance' effectiveness of internal control.
This book examines a key aspect of the post-financial crisis reform package in the EU and UK-the ratcheting up of internal control in banks and financial institutions. The legal framework for internal controls is an important part of prudential regulation, and internal control also constitutes a form of internal gate-keeping for financial firms so that compliance with laws and regulations can be secured. This book argues that the legal framework for internal control, which is a form of meta-regulation, is susceptible to weaknesses, and such weaknesses are critically examined by adopting an interdisciplinary approach. The book discusses whether post-crisis reforms adequately address the weaknesses in regulating internal control and proposes an alternative strategy to enhance the 'governance' effectiveness of internal control.
