Centre for Financial Regulation and Innovation launch
A new centre, the Centre for Financial Regulation and Innovation (CFRI) is being set up by the Department of Accounting & Finance.
Daniel Broby senior lecturer in Accounting and Finance, said, “The main aim of setting-up of this centre is to address the systemic failure of regulators to keep pace with financial innovation. The 2008 credit crisis triggered profound changes in financial markets and institutions. This highlighted the problem that lawmakers have in keeping up with financial innovation. The response prompted wide ranging regulatory change in both the Europe and the United States. Much of this was a kneejerk reaction and not supported by critical analysis. There was little research into how such change would impact capital markets. The lesson learnt is that financial regulation has to keep pace with financial innovation in order to accommodate free functioning capital markets.”
CFRI will be the first centre to bring finance academics, policy-makers, regulators, and finance industry professionals together to address the issues pertinent to financial regulation and innovation. Its vision is to provide a strategic link between academia, policy-makers, regulators and other financial industry participants so that research insights into financial regulations, banking policies, risk management, investment benchmarks and corporate governance can be adopted by capital markets. CFRI will investigate and comment on policy matters that relate to global financial markets in general and in the United Kingdom and the European Union in particular.
The formal launch of the Centre will take place on Friday, May 6, as part of Engage with Strathclyde week. It will be followed by the “Financial Services: Reputation, Regulation and current Market Trends” event which aims to present and discuss how the financial regulatory authorities can provide guidelines to enhance the robustness of the financial markets, whilst minimising the risk of future turmoil in those markets.
The goal is to enable practitioners to exchange ideas on contemporary issues and engage with academics in identifying ways on how to resolve them.
The event will also explore how to develop measures to improve efficiency, operations and disclosure, and restore the public and markets’ confidence in the financial system through presentations and panel debate.
The event will be followed by a networking lunch.
Published: 21 June 2016
