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The future of financial regulation - Financial Markets Group conference at LSE

Financial regulation is undergoing significant change. These regulations and their possible impact will be explored in a two day conference at LSE on Thursday 6 and Friday 7 April. The event is organised by the Financial Markets Group (FMG) at LSE and is the FMG's second annual conference on The Future of Financial Regulation.

Nick Le Pan, vice chairman of the Basel Committee on Banking Supervision and superintendent of Financial Institutions, Canada, and Dr Randall Kroszner, governor of the Federal Reserve Board, will give the conference's keynote speeches.

Others speaking over the two days include:

  • Brian Quinn, former director of Banking Supervision, Bank of England
  • Sir Adam Ridley, director general, London Investment Banking Association
  • Professor Richard Herring, University of Pennsylvania
  • Dr Raghuram Rajan, economic counselor and director, Research Department, International Monetary Fund
  • Professor Christian de Boissieu, University of Paris-I (Panthéon-Sorbonne) and president, Conseil d'Analyse Economique
  • Dr John Laker, chairman, Australian Prudential Regulation Authority

The event will explore the expected economic and policy implications of regulatory developments, including:

  • Governance of the regulatory decision making process. The Basel II process is determined by the G-10 industrialized countries, and the word "regulatory capture" has been used to describe the relationship between the Basel Committee and the largest banks. Are these concerns valid? Moreover, do smaller banks, smaller countries and emerging markets countries have sufficient input?
  • How will financial reforms impact upon emerging markets? Changes in financial regulations have the potential to level the playing field between emerging markets and industrialized countries, but the raising of the technical bar may also work as a barrier to entry for institutions that are not based in the largest financial centres.
  • Financial regulation and financial stability. Financial regulations are inherently procyclical and, therefore, simultaneously stabilizing and destabilizing. Quantitative impact studies have shown that the final outcome from changes in regulations is much more uncertain than had been claimed by proponents. Are the benefits from new financial regulations higher than the costs, or not?

The Second Annual Conference on the Future of Financial Regulation is on Thursday 6 and Friday 7 April in the Hong Kong Theatre, Clement House, LSE, Aldwych, London WC2A. For a full schedule and details on how to register, see http://fmg.lse.ac.uk  

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13 March 2006

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