Reinventing Financial Regulation

A Blueprint for Overcoming Systemic Risk

Authors: Persaud, Avinash

  • Combining Avinash Persaud's deep expertise in the academic, private sector, and public policy realms, Reinventing Financial Regulation is more than just an urgent call to fix our profoundly troubled and damaged financial markets; it is a blueprint for an ultimately effective financial regulation system that could very well save the future of finance.

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Softcover $34.99
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About this book

Reinventing Financial Regulation offers an analysis of the fundamental flaws that plague the current system of financial regulation, one built around ideas of "risk-sensitivity" and "capital adequacy." Author Avinash Persaud argues that while some sensible reforms have been introduced, a fresh approach—centered on risk capacity—is required. When the entire regime is compromised, simply slapping bandages on each new wound will do nothing to cure the underlying disease.

Reinventing Financial Regulation goes beyond an urgent call to fix our profoundly troubled and damaged financial markets. It is a blueprint for an effective financial regulation system that could very well save the future of finance.

What would a well-regulated financial system look like? Until now, policymakers, financial experts, and leading academics have been content to avoid facing this question head–on. We have been offered piecemeal reforms that ultimately leave the global financial system exposed to different versions of the same risks that so recently brought it to its knees. The world economy literally cannot afford to dodge this question any longer.

Persaud's goal to bring clarity and a powerful simplicity to the financial regulation process results in a systematic and apolitical framework for fixing the world's fractured financial industry and transforming its regulation—not just for today's financial climate, but once and for all.

About the authors

Avinash D. Persaud's career spans finance, academia, and public policy. He is currently Chairman of Intelligence Capital, a London-based financial consultancy; Chairman of Elara Capital, an emerging market investment firm based in London and Mumbai; and Chairman of Paradise Beach, the company developing Four Seasons Barbados. Previously, he served as managing director at State Street Corporation; global head of currency and commodity research at JP Morgan; and director of fixed income research at UBS. His analytical innovations led him to be ranked as one of the top three currency analysts in global investor surveys for over a decade. According to the Financial Times, his work on investors' shifting appetite for risk "has entered the popular lexicon of analysts." Mr. Persaud was formerly Chairman of the Warwick Commission on Financial Reform; Chairman of the regulatory subcommittee of the UN High-Level Task Force on Financial Reform;Co-Chair of the OECD Emerging Markets Network; Member of the UK Government's Audit and Risk Committee; Member of the Intergovernmental Task Force on Financial Taxes; and Member of the Pew Task Force to the U.S. Senate Banking Committee. He is Emeritus Professor at Gresham College; Senior Fellow at London Business School; Visiting Fellow at the Centre for Financial Analysis & Policy at Cambridge Judge Business School; 2010 President of the British Association for the Advancement of Science (Section F); and former Governor to the London School of Economics. He was Visiting Scholar at both the IMF and ECB and was a founding director of the 90,000-strong Global Association of Risk Professionals. In 2000, he won the Jacques de Larosiere Prize in Global Finance from the Institute of International Finance, and he was recently ranked as the No. 2 public intellectual in the world on the financial crisis by an expert panel for Prospect Magazine.

Table of contents (16 chapters)

  • Reinventing Financial Regulation

    Persaud, Avinash D.

    Pages 1-6

  • Why Do We Regulate Finance?

    Persaud, Avinash D.

    Pages 7-23

  • What Causes Financial Crashes

    Persaud, Avinash D.

    Pages 25-37

  • Why Taxpayers Need to Be on the Hook

    Persaud, Avinash D.

    Pages 39-53

  • How Should We Regulate the Financial System?

    Persaud, Avinash D.

    Pages 55-75

Buy this book

eBook $24.99
price for USA
  • ISBN 978-1-4302-4558-2
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Download immediately after purchase
Softcover $34.99
price for USA
  • ISBN 978-1-4302-4557-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.

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Bibliographic Information

Bibliographic Information
Book Title
Reinventing Financial Regulation
Book Subtitle
A Blueprint for Overcoming Systemic Risk
Authors
Copyright
2015
Publisher
Apress
Copyright Holder
Avinash Persaud
eBook ISBN
978-1-4302-4558-2
DOI
10.1007/978-1-4302-4558-2
Softcover ISBN
978-1-4302-4557-5
Edition Number
1
Number of Pages
XII, 276
Number of Illustrations and Tables
7 b/w illustrations
Topics