Financial Conglomerates and the Chinese Wall: Regulating Conflicts of Interest

by Harry McVea

Overview

While conglomerates bring with them many economic benefits, such as diversification of risk and economies of scale, they also impose such costs as systemic risk and conflict of interest abuses. This book explores how regulators can ensure that conglomerate regulation is sufficiently strong to eradicate abuses but sufficiently flexible to secure the benefits of conglomeration. The Chinese Wall - a regulatory mechanism aimed at stemming the flow of information from one department in a firm to another, and reconciling conflicts of interest more generally - is singled out for special treatment.

Product Details

ISBN-13:	9780198257134
Publisher:	Oxford University Press
Publication date:	09/30/1993
Pages:	302
Product dimensions:	6.38(w) x 9.50(h) x 0.90(d)

Table of Contents

	Table of Cases	xi
	Table of Statutes	xvii
	Abbreviations	xxiii
1.	Introduction	1
2.	Big Bang and Conflicts of Interest and Duty	18
3.	Insider Dealing: The Nature of the Problem	41
4.	Regulatory Approaches to Insider Dealing in the UK and the USA	63
5.	The Chinese Wall	122
6.	The Chinese Wall at General Law	135
7.	Legislative and Regulatory Approval of Chinese Walls in the USA and the UK	171
8.	The Chinese Wall: A Policy Analysis	201
9.	Summary and Conclusion	235
	Appendices
I.	Schedule 8: Principles Applicable to Designated Agency's Legislative Provisions	255
II.	Merrill Lynch's Statement of Policy	257
	Bibliography	259
	Index	271