- Book Description
As the global market expands, the need for international regulation becomes urgent.
Since World War II, financial crises have been the result of macroeconomic instability until the fatidic week end of September 15 2008, when Lehman Brothers filed for bankruptcy. The financial system had become the source of its own instability through a combination of greed, lousy underwriting, fake ratings and regulatory negligence. From that date, governments tried to put together a new regulatory framework that would avoid using taxpayer money for bailout of banks. In an uncoordinated effort, they produced a series of vertical regulations that are disconnected from one another. That will not be sufficient to stop finance from being instable and the need for international and horizontal regulation is urgent. This challenge is the focus of Georges Ugeux’s book.
International Finance Regulation: The Quest for Financial Stability focuses on the inspirations behind regulation, and examines the risks and consequences of fragmentation on a global scale. Author Georges Ugeux has four decades of experience in the legal and economic aspects of international business operations. He created and run the New York Stock Exchange’sinternational group in charge of developing the NYSE’s reach to non-US companies, including relationships with regulators and governments. Ugeux teaches European Banking and Finance of the Columbia University School of Law. Ugeux is uniquely positioned to provide recommendations and suggestions from the perspective of a top global authority. In the book, he explores international regulation with topics such as:
Laws, regulations, and risks of overregulation
Transformation of the U.S. market and creation of the Eurozone
Development of a global framework and stability of the banking system
In-depth examination of Basel III, the Dodd-Frank Act, the European Banking Union, and the Volcker Rule
The book also contains case studies from real-world scenarios like Lehman, CDS, Greece, the London Whale, and Libor to illustrate the concepts presented. Finance consistently operates within an increasingly global paradigm, and an overarching regulation scheme is becoming more and more necessary for sustainable growth. International Finance Regulation: The Quest for Financial Stability presents an argument for collaboration toward a comprehensive global regulation strategy.
- “This book was extremely well written, informative and provided illustrative case studies. It raised many important questions on financial regulation that everyone involved in the sector should be actively questioning and discussing in the aftermath of the recent global financial crisis in order to prevent a future breakdown. Aside from the key players in the global financial sector, this book is also highly recommended for any students interested in international financial regulation as it helps lays a framework for comprehension that students can then apply in thinking about current events in financial regulation and in their studies.” – Amazon.com
- “With illustrative case studies and real world insights, Georges touches upon the various inefficiencies in the existing regulatory mechanism. He questions whether financial markets were ever stable and highlights many unresolved issues in our financial ecosystem. The book kept me engaged throughout and I would highly recommend it.” – Amazon.com
- “I recommend it. Covers the whole landscape. Thanks for writing this. Will look for your next one. Perhaps keep this one as ongoing with regular new editions.” – Amazon.com
- “Great book!” – Amazon.com