The UK and Multilevel Financial Regulation examines the role of the United Kingdom (UK) in shaping postcrisis financial regulatory reform, and assesses the implications of the UKs withdrawal from the European Union (EU). It develops a domestic political economy approach to examine how the interaction of three domestic groups elected officials, financial regulators, and the financial industry shaped UK preferences, strategy, and influence in international and EUlevel regulatory negotiations. The framework is applied to five case studies bank capital and liquidity requirements bank recovery and resolution rules bank structural reforms hedge fund regulation and the regulation of overthecounter derivatives. It concludes by reflecting on the future of UK financial regulation after Brexit. The book argues that UK regulators pursued more stringent regulation when they had strong political support to resist financial industry lobbying. UK regulators promoted international harmonisation of rules when this protected the competitiveness of industry or enabled crossborder externalities to be managed more effectively but were often more resistant to new EU rules when these threatened UK interests. Consequently, the UK was more successful at shaping international standards by leveraging its market power, regulatory capacity, and alliance building (with the US). But it often met with greater political resistance at the EU level, forcing it to use legal challenges to block reform or...
Binding: Hardcover;240 pages; Publisher: Oxford University Press; Classification: JPA; Weight: 582 g; Dimensions: 161 x 241 x 21
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