Regulation Of Risk
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Risk Regulation At Risk
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Author : Sidney Shapiro
language : en
Publisher: Stanford University Press
Release Date : 2002-09-25
Risk Regulation At Risk written by Sidney Shapiro and has been published by Stanford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-09-25 with Law categories.
In the 1960s and 1970s, Congress enacted a vast body of legislation to protect the environment and individual health and safety. Collectively, this legislation is known as “risk regulation” because it addresses the risk of harm that technology creates for individuals and the environment. In the last two decades, this legislation has come under increasing attack by critics who employ utilitarian philosophy and cost-benefit analysis. The defenders of this body of risk regulation, by contrast, have lacked a similar unifying theory. In this book, the authors propose that the American tradition of philosophical pragmatism fills this vacuum. They argue that pragmatism offers a better method for conceiving of and implementing risk regulation than the economic paradigm favored by its critics. While pragmatism offers a methodology in support of risk regulation as it was originally conceived, it also offers a perspective from which this legislation can be held up to critical appraisal. The authors employ pragmatism to support risk regulation, but pragmatism also leads them to agree with some of the criticisms against it, and even to level new criticisms of their own. In the end, the authors reject the picture—painted by risk regulation’s critics—of widely excessive and irrational regulation, but the pragmatic perspective also leads them to propose a number of recommendations for useful reforms to risk regulation.
The Government Of Risk
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Author : Christopher Hood
language : en
Publisher: Oxford University Press, USA
Release Date : 2001
The Government Of Risk written by Christopher Hood and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Political Science categories.
Why are vast sums spent on controlling some risks but not others? Is there any logic to the techniques we use in risk regulation? These key questions are explored as this text exposes the components of risk regulation systems.
Foundations Of Financial Risk
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Author : GARP (Global Association of Risk Professionals)
language : en
Publisher: John Wiley & Sons
Release Date : 2015-06-02
Foundations Of Financial Risk written by GARP (Global Association of Risk Professionals) and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-02 with Business & Economics categories.
Gain a deeper understanding of the issues surrounding financial risk and regulation Foundations of Financial Risk details the various risks, regulations, and supervisory requirements institutions face in today's economic and regulatory environment. Written by the experts at the Global Association of Risk Professionals (GARP), this book represents an update to GARP's original publication, Foundations of Banking Risk. You'll learn the terminology and basic concepts surrounding global financial risk and regulation, and develop an understanding of the methods used to measure and manage market, credit, and operational risk. Coverage includes traded market risk and regulation, treasury risk and regulation, and much more, including brand new coverage of risk management for insurance companies. Clear explanations, focused discussion, and comprehensive relevancy make this book an ideal resource for an introduction to risk management. The textbook provides an understanding of risk management methodologies, governance structures for risk management in financial institutions and the regulatory requirements dictated by the Basel Committee on Banking Supervision. It provides thorough coverage of the issues surrounding financial risk, giving you a solid knowledgebase and a practical, applicable understanding. Understand risk measurement and management Learn how minimum capital requirements are regulated Explore all aspects of financial institution regulation and disclosure Master the terminology of global risk and regulation Financial institutions and supervisors around the world are increasingly recognizing how vital sound risk management practices are to both individual firms and the capital markets system as a whole. Savvy professionals recognize the need for authoritative and comprehensive training, and Foundations of Financial Risk delivers with expert-led education for those new to risk management.
Risk Management And Regulation
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Author : Tobias Adrian
language : en
Publisher: International Monetary Fund
Release Date : 2018-08-01
Risk Management And Regulation written by Tobias Adrian and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-01 with Business & Economics categories.
The evolution of risk management has resulted from the interplay of financial crises, risk management practices, and regulatory actions. In the 1970s, research lay the intellectual foundations for the risk management practices that were systematically implemented in the 1980s as bond trading revolutionized Wall Street. Quants developed dynamic hedging, Value-at-Risk, and credit risk models based on the insights of financial economics. In parallel, the Basel I framework created a level playing field among banks across countries. Following the 1987 stock market crash, the near failure of Salomon Brothers, and the failure of Drexel Burnham Lambert, in 1996 the Basel Committee on Banking Supervision published the Market Risk Amendment to the Basel I Capital Accord; the amendment went into effect in 1998. It led to a migration of bank risk management practices toward market risk regulations. The framework was further developed in the Basel II Accord, which, however, from the very beginning, was labeled as being procyclical due to the reliance of capital requirements on contemporaneous volatility estimates. Indeed, the failure to measure and manage risk adequately can be viewed as a key contributor to the 2008 global financial crisis. Subsequent innovations in risk management practices have been dominated by regulatory innovations, including capital and liquidity stress testing, macroprudential surcharges, resolution regimes, and countercyclical capital requirements.
Systemic Risk History Measurement And Regulation
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Author : Kreis Yvonne
language : en
Publisher: World Scientific
Release Date : 2019-06-04
Systemic Risk History Measurement And Regulation written by Kreis Yvonne and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-04 with Business & Economics categories.
Systemic Risk: History, Measurement and Regulation presents an overview of this emerging form of risk from a global perspective. Systemic risks endanger entire financial systems, not just individual financial institutions. In this volume, the authors review how systemic risk has evolved over the last 40 years across continents to come to the forefront of regulatory attention. They then discuss transmissions channels, provide a review of systemic risk measures, and describe new regulations that have been introduced, as well as the theory and practice of financial stability committees that have been set up internationally. Overall, the book provides a practical guide to understand, identify, assess and control systemic risk.While the financial research on systemic risk has strongly increased since the events of 2008, this book is a first in providing a detailed yet concise overview of the topic, covering the history of systemic risk, its measurement, and its regulation. The authors provide both academic and practitioner-oriented insights, and draw on their different regions of expertise to provide a global perspective on systemic risk.
Risk Analysis And Governance In Eu Policy Making And Regulation
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Author : Bernardo Delogu
language : en
Publisher: Springer
Release Date : 2016-05-02
Risk Analysis And Governance In Eu Policy Making And Regulation written by Bernardo Delogu and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-02 with Political Science categories.
This book provides an easy, but comprehensive and rigorous access to the main concepts, terminology, methods and procedures of risk analysis intended for all those involved in the EU policy and regulatory decision making on risks. It establishes a common ground of knowledge which enables a more informed dialogue on risks, a closer collaboration between decision makers and scientists and a better appraisal of the potential and limits of risk science. The book also brings together in an accessible way much multidisciplinary knowledge which had been dispersed over many technical documents and specialist books. The EU is in the front line of health, safety and environmental risk management. GMOs, food safety, hazardous chemicals, climate change, radiation hazards, are just a few of the popular risk issues addressed by the EU through policy and regulatory measures. The risk analysis paradigm, including risk assessment, management and communication has been at the core of the EU decision making for a long time already. EU Institutions strive for a science-based approach to risk management. Nevertheless, the dialogue and collaboration on risk issues between policy makers, stakeholders and scientists are still difficult and the potential and limits of science in support of decision making, as well as the basic concepts of risk analysis are not fully understood outside the narrow specialist circles.
Oecd Reviews Of Regulatory Reform Risk And Regulatory Policy Improving The Governance Of Risk
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2010-04-09
Oecd Reviews Of Regulatory Reform Risk And Regulatory Policy Improving The Governance Of Risk written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-09 with categories.
This publication presents recent OECD papers on risk and regulatory policy. They offer measures for developing, or improving, coherent risk governance policies.
Better Business Regulation In A Risk Society
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Author : Alberto Alemanno
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-09-14
Better Business Regulation In A Risk Society written by Alberto Alemanno and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-09-14 with Political Science categories.
The premise of this volume is that business regulations are expected to grow in the near future as a consequence of the emergence of a “(world) risk society.” Risks related to terrorism, climate change, and financial crises, for example, will penetrate all conditions of life. Increasingly, the decisions and actions of some bring about risks for many in this era of globalization. Controlling these risks implies managing the world through high-quality regulation, with a particular emphasis on businesses and financial institutions. Central to this approach is the argument that a major, if not the primary, aim of regulation is to internalize externalities, or in a broader context, to repair market failure. Such repair can only be accomplished when the costs are smaller than the welfare gains. Featuring contributions from researchers and policy analysts from the fields of economics, management, law, sociology, political science, and environmental policy, this book focuses on three major topics: • Social risks and business regulation • Preconditions for better business regulation • Theoretical issues related to better business regulation Collectively, the authors demonstrate that the easier it is for regulated businesses to comply at the lowest costs possible—without jeopardizing the related public goals—the greater the degree of compliance. When successful, the net result is a balance of individual and collective net benefits, and by further implication, sustainable business practice and economic growth.
Managing Food Safety And Hygiene
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Author : Bridget M. Hutter
language : en
Publisher: Edward Elgar Publishing
Release Date : 2011-01-01
Managing Food Safety And Hygiene written by Bridget M. Hutter and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Business & Economics categories.
'One of the most thorough and considered studies we have of the relationship between regulation and business risk management practices. Food regulation provides a revealing canvas for understanding the dynamics of the governance of risk.' – John Braithwaite, Australian National University Food safety and hygiene is of critical importance to us all, yet, as periodic food crises in various countries each year show we are all dependent on others in business and public regulation to ensure that the food we consume from food, in the retailing and hospitality sectors is safe. Bridget Hutter considers the understandings of risk and regulation held by those in business and considers the compliance pressures on managers and owners, and how these relate to understandings of risk and uncertainty. Using data from an in-depth case study of the food retail and catering sectors in the UK, the research investigates how business risk management practices are influenced by external pressures such as state regulation, consumers, insurance and the media and by pressures within business. The argument of the book is that food businesses in the UK are generally motivated to manage risk. They realize that good risk management aligns with good business practice. However, there are challenges for an industry that is highly segmented in terms of risk management capacity. The findings have implications for contemporary risk regulation in the increasingly number of countries that rely on self-regulation. Managing Food Safety and Hygiene will prove invaluable for academic researchers and students in risk regulation studies, business studies, food studies, organizational studies, social psychology, socio-legal studies, sociology, management, public administration and political science. In addition, the book will also appeal to practitioners specifically to senior policy makers, regulators and business risk managers charged with managing risk in diverse organizational settings, and across different functional jurisdictions.
Bank Regulation Risk Management And Compliance
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Author : Alexander Dill
language : en
Publisher: Taylor & Francis
Release Date : 2019-10-01
Bank Regulation Risk Management And Compliance written by Alexander Dill and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-01 with Law categories.
Bank Regulation, Risk Management, and Compliance is a concise yet comprehensive treatment of the primary areas of US banking regulation – micro-prudential, macroprudential, financial consumer protection, and AML/CFT regulation – and their associated risk management and compliance systems. The book’s focus is the US, but its prolific use of standards published by the Basel Committee on Banking Supervision and frequent comparisons with UK and EU versions of US regulation offer a broad perspective on global bank regulation and expectations for internal governance. The book establishes a conceptual framework that helps readers to understand bank regulators’ expectations for the risk management and compliance functions. Informed by the author’s experience at a major credit rating agency in helping to design and implement a ratings compliance system, it explains how the banking business model, through credit extension and credit intermediation, creates the principal risks that regulation is designed to mitigate: credit, interest rate, market, and operational risk, and, more broadly, systemic risk. The book covers, in a single volume, the four areas of bank regulation and supervision and the associated regulatory expectations and firms’ governance systems. Readers desiring to study the subject in a unified manner have needed to separately consult specialized treatments of their areas of interest, resulting in a fragmented grasp of the subject matter. Banking regulation has a cohesive unity due in large part to national authorities’ agreement to follow global standards and to the homogenizing effects of the integrated global financial markets. The book is designed for legal, risk, and compliance banking professionals; students in law, business, and other finance-related graduate programs; and finance professionals generally who want a reference book on bank regulation, risk management, and compliance. It can serve both as a primer for entry-level finance professionals and as a reference guide for seasoned risk and compliance officials, senior management, and regulators and other policymakers. Although the book’s focus is bank regulation, its coverage of corporate governance, risk management, compliance, and management of conflicts of interest in financial institutions has broad application in other financial services sectors. Chapter 6 of this book is freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 license.