The new Basel capital rules... the implementation of Gramm-Leach-Bliley and the modernisation of US regulations... the UK Financial Services and Market Act... the European Union's action plan for financial services liberalisation in Asia... Japan's new regulatory systems... the regulation of internet marketing...

Each of these critical development directly affects practitioners and regulators around the world. However, amid noisy and protected wrangling, its is easy to lose track of the key developments actually happening in the regulatory frameworks governing the world's major markets. Often, proposed changes are quietly dropped or amended out of all recognition. It is hard to keep track of the developments which actually matter.

The contributors to this wide-ranging collection are themselves intimately connected with the business of regulators, professional analysts, legal advisors and academics. Authors including recognised experts such as Michael Foot, managing director of the UK Financial Services Authority, Lee Hsien Loong, president of the Hong Kong Monetary Authorities and Patricia Jackson from the Bank of England.

These experts put the key regulatory of the recent perspective and spell out their implications both for the capital market practitioners and for regulators in the other jurisdictions. Jurisdictions covered include the US, UK, Japan, Germany and the European Union and major Asian markets like Singapore.

The survey also review the developing working agendas of the major international regulatory fora and presidents a detailed examination of the implications of the Basel Committee's new capital accord. Increasingly, key regulatory decisions are taken at the international level by groups like the Basel Committee, or by the EU institutions. This collection examines the implications of this trend for the major markets.

• Wholesale-only deposit takers: refining the rules in the UK,
  Michael Foot, Managing Director, Deposit Takers and Markets Directorate, UK FSA
  
  
• Supervision of UK-based financial conglomerates,
  Nick Cook, Policy Adviser, Prudential Standards Division, UK FSA
  
  
• The Financial Services and Market Act 2000,
  Dermot Turing and Liz Cramb, Clifford Chance
  
  
• Unified Supervision - the UK experience,
  Patricia Jackson, head of Financial Industry and Regulation Division, Bank of England
  
  
• Regulatory Developments in EU,
  Malcolm Levitt, PriceWaterhouseCoopers
  
  
• Developments in European Securities Markets and the impact of regulation,
  Graham Bishop, former advisor on European Financial Affairs, Salomon Smith Barney
  
  
• The future of supervision
  George Vojta, president, Financial Services Forum
  
  
• Recent supervisory developments in Germany
  Dr Alexandra Dreibus, Freshfields Brukhaus Deringer
  
  
• US banking regulation: Gramm-Leach-Bliley
  Ray Soifer, Chairman, Soifer Consulting
  
  
• US securities regulation
  Richard Hill, Bureau of National Affairs, Washington
• Japan: a case for financial sector reform and monetary stimulus
  Dr Shelagh Heffernan, City University Business School
  
  
• Consolidation and liberalisation: building world class banks in Singapore
  Lee Hsien Loong, deputy prime minister of Singapore and chairman of the Monetary Authority of Singapore
  
  
• The Basel Committee's proposal for revised capital standards
  Andrew Cornford, UNCTAD
  
  
• E-banking regulations: lessons from UK experience
  Dr Alistair Milne, City University Business School
• International insurance supervision
  Steve Butterworth, director of insurance supervision, Guernsey Financial Services Commission
  
  
• Facing the reality of systemic risk
  Richard Farrant, former chief executive, UK Securities and Futures Authority

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