Regulating (From) the Inside: The Legal Framework for Internal Control in Banks and Financial Institutions

Description

This book examines a key aspect of the post-financial crisis reform package in the EU and UK-the ratcheting up of internal control in banks and financial institutions. The legal framework for internal controls is an important part of prudential regulation, and internal control also constitutes a form of internal gate-keeping for financial firms so that compliance with laws and regulations can be secured. This book argues that the legal framework for internal control, which is a form of meta-regulation, is susceptible to weaknesses, and such weaknesses are critically examined by adopting an interdisciplinary approach. The book discusses whether post-crisis reforms adequately address the weaknesses in regulating internal control and proposes an alternative strategy to enhance the 'governance' effectiveness of internal control.

Iris H-Y Chiu is a Reader in Law at University College London.

Regulating (From) the Inside is an excellent handbook for internal control professionals seeking better understanding of their roles and responsibilities, and also for regulators and financial firm managers trying to improve relations with firms' internal control professionals. -- Thomas H Stanton * Banking and Finance Law Review *