United Kingdom and United States responses to the regulatory challenges of modern financial markets

From: Texas International Law Journal | Date: April 1, 2003| Author: | Copyright information

I. INTRODUCTION

In recent years, both the United Kingdom and the United States passed landmark legislation transforming the regulation of financial markets and institutions in those countries. The United Kingdom enacted the Financial Services and Markets Act 2000 (FSMA),1 and the United St ates passed the Gramm-Leach-Bliley Act of 1999 (GLB).2 These laws respond to some common challenges faced in twenty-first century financial regulation: far-reaching globalization, advanced industry consolidation, persistent competition, and incessant technological advances.

Recent trends in financial ...

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