City of London Advisory Council for India Briefing

17 Sep 2010

London

Regulatory Change in the UK: Impact on Competition with Other Financial Centres

On Friday 17 September 2010, ICFR will host a session for the forthcoming visit of the City of London Advisory Council for India on "Regulatory Change in the UK: Impact on Competition with Other Financial Centres". The Advisory Council steers the work of the City Office in Mumbai and provides guidance on the City of London’s engagement with India. The Council is chaired by Naina Lal Kidwai, Group Chairperson of HSBC India.
 

Overview 

Since coming into power, the new UK coalition Government has undertaken several steps to restructure the framework of financial regulation and lay out the path for further reform. These changes have been both structural and philosophical. It is noteworthy that there has been a growing debate over governance and moral questions in the provision of financial services. Many issues remain to be resolved however, both in terms of how these changes will be implemented domestically, and how they will mesh with regulatory change elsewhere. At the same time there is an active debate about the optimal size and structure of the financial system and how this relates to growth. The UK administration, like many others, is facing the problem of designing a new regulatory structure which is aimed at reducing the risk of major financial crisis in the future, at a time when it also needs a fully functioning financial system both to support growth and re-cycle large amounts of government debt. Given London’s importance as a financial centre, this period of uncertainty and change, inevitably raises questions about the competitive position of London compared to other financial centres, particularly in the developing world. Dr. Reid will explore some of these issues and how regulation of financial services will also have to come to terms with the changing pattern of global capital flows and financial innovation.  

Timing

4:30 pm until 6:30 pm 
 

Venue

Fishmongers' Hall
London Bridge
LONDON
EC4R 9EL
 

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Contact

For further information please contact: Magdalena.cyran@icffr.org


Participation at this event is by invitation only and limited to thirty people to ensure an effective discussion.

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