Much of the complexity of modern finance is the result of regulatory arbitrage – avoiding or minimising restrictions by engaging in a transaction with more or less identical effect but more favourable regulatory treatment. Many regulators still cling to the hope that it could be eliminated if only rules were sufficiently extensive and sufficiently carefully prescribed. But this is an illusion.
Tag Search Results
27 August 2014, Financial Times
09 July 2014
Concepts of fiduciary obligation have been watered down in the modern financial services sector. It is time to reverse that.
11 June 2014
What does the death rate from violent accident in England over seven centuries tell us about moral hazard in the financial system?
26 March 2014, Financial Times
Just as dammed water finds new channels of escape, crowdfunding seems to provide a way around the blockage.
05 February 2014, Financial Times
Obtaining better information about companies is essential to the efficiency of markets and society: obtaining it fractionally earlier is of no public value at all.
15 January 2014, Financial Times
Economics is not a method but a subject – one defined by the problems it sets out to tackle not the techniques it uses.
11 December 2013, Financial Times
Although transactions with low probability of large loss and high probability of small gain carry the potential for disaster, they can appear attractive for a very long time – perhaps for ever.
04 December 2013, Financial Times
Envy is both inseparable from economic progress and destructive of social cohesion. Some inequality is inevitable, and there seem to be three principal factors that make it more tolerable.
13 November 2013, Financial Times
Nuclear power and financial systems both have the capacity to blow up the world. Perhaps there are lessons from one for the other.
06 November 2013, Financial Times
Ethics are about what to do when good behaviour and profitable business are not necessarily the same thing.
28 December 2009, Financial Times
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