The regulatory evolution of the post credit crisis fund management industry

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3 Citations (Scopus)

Abstract

The credit crisis that developed as a result of the problems in the US sub-prime mortgage market has consequences for the future shape of regulation of the fund management industry. The author examines the exposed agency problems, poor risk management, and the lack of liquidity in many fund offerings that have led to a number of new onerous regulations (as distinct from 'acquired regulations'). The new regulations are changing the industry microstructure. Post credit crisis valuations are 73% of the pre credit crisis five-year levels, implying the markets are evaluating the industry differently in view of the many new challenges that it now faces.

Original languageEnglish
Pages (from-to)5-11
Number of pages7
JournalJournal of Economic Policy Reform
Volume15
Issue number1
DOIs
Publication statusE-pub ahead of print - 4 Jan 2012

Keywords

  • banking supervision
  • CFA Institute
  • credit crisis
  • financial regulation
  • fund management
  • mutual funds
  • systemic risk

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