The Financial Markets Group frequently appears in the press, and our staff and associates are often asked to comment on the latest financial news stories. Here you will find a selection of news articles relating to the FMG.
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Anthony Hilton: Calls for change to an absurd system
standard.co.uk, 1 April 2014
There is mounting evidence that much of today's financial system is dysfunctional and that too often it meets its own needs rather than those of its clients. Paul Woolley (founder of the Paul Woolley Centre is quoted).
Annuities: What now for retirement income?
bbc.co.uk, 20 March 2014
A change in pension rules heralded in the chancellor's speech means a retiree can now draw their entire pension in one go, if they wish. For some, the freedom will mean retirement planning that can better suit their needs. But what does it mean for the centuries-old annuity, and the security of an income for life which it provides? Tom Kirchmaier (FMG Research Associate) is quoted.
Why markets are inefficient and what can be done about it? (pdf)
Financial Times, 9 March 2014
Markets are not perfectly efficient. More or less everyone agrees to this in the wake of the financial crisis. So why are markets inefficient, and what can be done about it? The most popular answer is to blame human nature. Paul Woolley (Founder of the Paul Woolley Centre) however thinks he is on his way to a new answer. On his reading, the problem is lodged in the division between principals and agents.
London regulator brings heavier touch to banking rules
Bloomberg.com, 12 February 2014
Martin Wheatley (head of the UK Financial Conduct Authority) last year handed out £474 million in fines to financial firms, more than seven times higher than in 2011. However UK penalties still pale in comparison to those levied on banks by US authorities. Tom Kirchmaier (FMG) is quoted.
Goodhart: regulatory reform 'won't stop next crisis'
risk.net, 30 January 2014
Charles Goodhart (FMG Programme Director) spoke at the Systemic Risk Centre (SRC) public lecture 'the next crisis' on the 28th January. The evening was an opportunity for the panel of experts to debate the effectiveness of the response to the 2007-08 crisis.
The London Evening Standard have also written a review of the event. Read more here.
Interest rate delay hurts economy, warns Sentence
thetimes.co.uk, 8 January 2014
A member of The Times' Shadow Monetary Policy Committee has warned that the Bank of England is damaging the fragile economic recovery because of its decision not to raise interest rates for the foreseeable future. Charles Goodhart (FMG) is mentioned. A subscription to thetimes.co.uk is needed to view this article.