The Lunacy of Modern Finance Theory and Regulation

Business & Finance, Finance & Investing, Banks & Banking, Economics
Cover of the book The Lunacy of Modern Finance Theory and Regulation by Les Coleman, Taylor and Francis
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Les Coleman ISBN: 9781317662013
Publisher: Taylor and Francis Publication: August 1, 2014
Imprint: Routledge Language: English
Author: Les Coleman
ISBN: 9781317662013
Publisher: Taylor and Francis
Publication: August 1, 2014
Imprint: Routledge
Language: English

This provocative book provides insight into a finance industry that is run for the benefit of banks and service providers who rely on Beatles-era theories and regulation which are totally unsuited to the modern world. The author has a near-unique perspective based on over 30 years of working – literally around the globe – for corporates, fund managers and as finance academic. In his last role his research has focused on investment decisions, and during 2012 he interviewed 34 fund managers in Istanbul, London, New York and Melbourne. He blends rich understanding of finance theory and practice to unravel the investment industry’s structure and show how banks and other finance institutions privilege themselves at investors’ expense.

The book highlights that finance industry self-regulation is weak. Risks from inexpertise, theft, bad data and other sources are high. Regulation of the industry appears to be ineffectual with the setting of such a high bar that it is virtually impossible to successfully prosecute even the most blatant and egregious offenders.

The book closes with the simple suggestion that corporations’ regulations be altered to introduce the strict liability offence of being a director or officer of a large bank that becomes bankrupt. This follows the strategy of legislation that has been effective in cleaning up the environment, making workplaces safer and reducing crime by punishing those responsible for an offence.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

This provocative book provides insight into a finance industry that is run for the benefit of banks and service providers who rely on Beatles-era theories and regulation which are totally unsuited to the modern world. The author has a near-unique perspective based on over 30 years of working – literally around the globe – for corporates, fund managers and as finance academic. In his last role his research has focused on investment decisions, and during 2012 he interviewed 34 fund managers in Istanbul, London, New York and Melbourne. He blends rich understanding of finance theory and practice to unravel the investment industry’s structure and show how banks and other finance institutions privilege themselves at investors’ expense.

The book highlights that finance industry self-regulation is weak. Risks from inexpertise, theft, bad data and other sources are high. Regulation of the industry appears to be ineffectual with the setting of such a high bar that it is virtually impossible to successfully prosecute even the most blatant and egregious offenders.

The book closes with the simple suggestion that corporations’ regulations be altered to introduce the strict liability offence of being a director or officer of a large bank that becomes bankrupt. This follows the strategy of legislation that has been effective in cleaning up the environment, making workplaces safer and reducing crime by punishing those responsible for an offence.

More books from Taylor and Francis

Cover of the book British Audit Practice 1884-1900 (RLE Accounting) by Les Coleman
Cover of the book The Rise of the Laity in Evangelical Protestantism by Les Coleman
Cover of the book Globalising Sociolinguistics by Les Coleman
Cover of the book Grotesque by Les Coleman
Cover of the book Test Theory for A New Generation of Tests by Les Coleman
Cover of the book Innovative CSR by Les Coleman
Cover of the book Morocco by Les Coleman
Cover of the book Managing Innovation Within Networks by Les Coleman
Cover of the book Evolutionary Psychiatry, second edition by Les Coleman
Cover of the book Writing and the Writer by Les Coleman
Cover of the book Prescribing Mental Health Medication by Les Coleman
Cover of the book Espionage and the Roots of the Cold War by Les Coleman
Cover of the book Children and Television by Les Coleman
Cover of the book Telling Stories to Change the World by Les Coleman
Cover of the book Politics and Leadership in North Korea by Les Coleman
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy