The purpose of this paper is to summarise and critically assess the legislative response in banking and securities regulation to the determinants of the financial crisis.
The paper identifies these determinants and evaluates different categories of regulatory response, drawing from the United Kingdom, United States, European Union and international approaches.
The crisis had both economic and financial causes. The responses have been quick, original in part, and complex. Issues are still emerging from the collapse which are yet to be fully addressed.
This is a transition period between the crisis and the establishment of the regulatory regimes that will follow it. Conclusions drawn at this point are therefore tentative.
The paper brings together several sources of legislative response, and is therefore of value as a discussion point.
