Risk, Regulation, and Investor Protection: The Case of Investment Management

Hardcover | April 30, 1999

byJulian Franks, Colin Mayer

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This unique and authoritative study of the investment management business focuses on the use of capital requirements for investment managers as a means of investor protection. Commissioned by the Investment Management Regulatory Organization and drawing on extensive discussions with investmentmanagers themselves, it provides an account of this burgeoning sector that is both comprehensive in its coverage and penetrating in its analysis. The authors review the way in which the investment management business is organized and its inherent risks; they examine the causes and incidence ofmarket failures as well as the dangers to investors through mismanagement and malpractice. The book includes an extensive treatment of fraud, with a full listing of fraud cases in the UK since the early 1970s. The report concludes with a summary of the evidence on the nature and scale of the risks faced by investors and recommendations for appropriate forms of protection; and, on the basis of existing regulatory structures in the UK and USA, sets out a proposed structure in accordance with the thrust ofthe authors' analysis. While specific in its coverage, much of the argument presented here is closely applicable to other financial sectors in which regulation is a crucial issue; and it is especially pertinent to current debates on financial regulation in the run-up to the completion of the European internal market in1992.

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From the Publisher

This unique and authoritative study of the investment management business focuses on the use of capital requirements for investment managers as a means of investor protection. Commissioned by the Investment Management Regulatory Organization and drawing on extensive discussions with investmentmanagers themselves, it provides an account...

From the Jacket

This unique authoritative study of the investment management business focuses on the use of capital requirements for investment managers as a means of investor protection.

Julian Franks is at London Business School. Colin Mayer is at City University Business School.

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Format:HardcoverDimensions:240 pages, 8.27 × 5.51 × 0.79 inPublished:April 30, 1999Publisher:Oxford University Press

The following ISBNs are associated with this title:

ISBN - 10:0198233159

ISBN - 13:9780198233152

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'the collation of data and information is useful'D.H. Gowland, Economic Journal (December 1990)