Financial Supervision

1. INTRODUCTION

Box 1.1 "One book to learn it all?"

2. THE FINANCIAL SYSTEM, FINANCIAL COMPANIES AND SERVICES

2.1 FINANCIAL SERVICES AND PRODUCTS

2.1.1 Deposit-taking

2.1.2 Credit provisioning

2.1.3 Insurance provisioning

2.1.4 Risk managing

2.1.5 Market making, clearing and settlement

2.1.6 Payment services

2.1.6 The intangible nature of financial markets, services and products

2.2 FINANCIAL COMPANIES

2.2.1 Banks

2.2.2 Insurance companies

2.2.3 Securities firms

2.2.4 Investment funds and pension funds

2.2.5 Market makers and clearing houses

2.2.6 Financial holding companies and conglomerates

2.3 FINANCIAL MARKETS

2.3.1 Equity markets

2.3.2 Money markets

2.3.3 Bond markets

2.3.4 Foreign exchange market

2.3.5 Commodity markets
2.3.6 Derivative markets

2.3.7 Non-market trading

2.3.8 Payment systems and the interbank market

2.4 THE FINANCIAL SYSTEM

Figure 2.4.1 The importance of the financial system and its resilience

2.4.1 System stability and low transaction costs

2.4.2 System flexibility and market competition

2.4.3 Market innovation and system change

3. FINANCIAL REGULATION

3.1 THE OBJECTIVES OF FINANCIAL REGULATION

3.1 DEFINITIONS, DESCRIPTIONS, AND EXAMPLES

3.2 REGULATIONS, LAWS AND POLICIES

3.3 FINANCIAL MARKET REGULATIONS

3.3.1 Consumer protection regulation

3.3.2 Conduct of business regulation

3.3.3 Market maker and clearing house regulation

3.3.4 Macro-prudential regulation
3.3.5 Payment system regulation

3.4 FINANCIAL COMPANY REGULATION

3.4.1 Bank regulation

3.4.2 Insurance company regulation

3.4.3 Securities firm regulation

3.4.4 Stock market and clearing house regulation

3.4.5 Holding company regulation

3.4.6 Non-/unregulated financial companies

3.4.7 Fit and proper regulation

3.5 PRINCIPLE AND/OR RULE BASED REGULATION

3.6 MARKET DISCIPLINE AND MARKET FAILURES

3.7 THE REGULATION OF THE SUPERVISOR

3.8

Mikael Wendschlag is a Researcher and Lecturer at the Uppsala University, Sweden. He has conducted commissioned research for the Swedish Financial Supervisory Agency and the Swedish Riksbank. He has been a Visiting Researcher at the Swedish House of Finance, the European University Institute in Florence, the Swedish Riksbank and the Institute for Economic and Business History Research at the Stockholm School of Economics, Sweden. He has also worked as a Research Assistant at the Swedish Institute for International Affairs. Having spent the past decade studying financial supervision, including its practice, he is a founding member of the Network for Research and Education in Financial Regulation and Supervision in Sweden and a member of the Research Panel for Financial Market Law at the Stockholm Centre for Commercial Law.