This discussion paper was produced by a Working Party in April 1997 to put forward some possible ways of improving the United Kingdom financial regulatory process. It was written to contribute to the expected post General Election debate on this topic. Although the new Government announced plans in May 1997 for a new Securities and Investment Board (SIB) with statutory powers, this has not reduced the value of this discussion paper which raises some wider issues on methods of regulation.The paper excludes the…
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