The UCL Jevons Institute for Competition Law and Economics Colloquium 2011:
STABILITY AND COMPETITION IN BANKING AFTER THE FINANCIAL CRISIS
A debate over structural and behavioural remedies in banking in light of the Independent Commission on Banking Interim Report
to be held on 8 June 2011 from 4 - 7 pm, at UCL Law Faculty, London
accredited with 3 CPD hours by the Bar Standards Board and the Solicitors Regulation Authority
About this event:
The recent deep financial crisis has resulted in the search for measures that could reduce the risk of a recurrence. Many have looked at whether banks tend to take on risks that the general public ends up bearing and whether regulations should reduce these negative externalities. Some have called for breaking banks up, raising capital standards, charging them for the risks they create, or impose various rules that prevent banks from creating too much systemic risk. Others have questioned whether the extent to which banking practices were really responsible for the crisis or whether the proposed constraints on banks impose more costs on banks than they are worth such as perhaps reducing bank lending that stimulates economic group. While financial regulators have been most focused on reform competition authorities are also increasingly focused on banking and, among other things, are considering the relationship between market structure, business practices, and system risk.
The recently released interim report by the Independent Commission on Banking, chaired by Sir John Vickers, is one of the latest attempts to consider these difficult issues. It proposed significantly increased capital requirements on banks and some fencing off of retail banking from riskier operations.
This conference will be opened by Sir John Vickers, the chairman of the Independent Commission on Banking, and brings together antitrust and financial regulation experts, including key current or former regulators from the UK and EU, to discuss these issues.
Welcome Opening Remarks: Moderator: Closing Remarks:
UCL Cissy Chu Common Room
Dean, UCL Faculty of Laws
Executive Director, UCL Jevons Institute and Visiting Professor, UCL; Partner, Allen & Overy LLP
Chairman, Independent Commission on Banking
Executive Director, UCL Jevons Institute and Visiting Professor, UCL; Chairman, Global Economics Group
Professor, LSE and former member of the Bank of England's Monetary Committee
Senior Managing Director, FTI; member of the Secretary of State for Business Panel; former Joint Head, UK Government Economic Service
Professor, New University of Lisbon; former Member of Monetary Committee and Member of the Economic Policy Committee of the European Commission; former President of the Portuguese Competition Authority
Executive Director, Office of Fair Trading; former Director, Financial Stability, for HM Treasury.
Deputy Director General State Aid, DG-Competition, European Commission
Chief Executive, UK Office of Fair Trading
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