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Back to the Future

Articles (1 - 3 of 3)

As regulators finally move on the Libor scandal, are they asking themselves the right questions?

In the Libor scandal, where were the regulators?

Welcome to the third and final part of Back to the Future. AS HSBC is fined US$1.9 billion for “egregious” money laundering and the first arrests are made in the Libor scandal, the need for the public…
Institutionalising restraint is business practice will prove challenging for HSBC and regulators alike.

Banks behaving badly: HSBC settles in money laundering probe

The $1.92 billion deferred prosecution entered into by HSBC with US regulators is one of the most significant financial penalties imposed on a global bank. On Tuesday in a Federal Court in Brooklyn, HSBC…
The battle over regulation of capital markets seemed over by 1937: but by the global financial crisis in 2008, separation of the corporation and the capital market was no longer assured.

Reinventing the rationale for market intervention

Welcome to part two of Back to the Future. Through the Securities and Exchange Commission, James M. Landis helped legitimise the authority of the state to intervene in capital markets, despite a judiciary…