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The Costs of Regulation (1988)

In: The Central Bank and the Financial System

Author

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  • C. A. E. Goodhart

    (London School of Economics)

Abstract

This paper addresses the question of the costs involved in establishing the new regulatory framework in the UK. One of the transitional costs involved relates to the time and effort that will have to be expended by all concerned to keep abreast of all that is taking place. That cost is clearly noticeable in the case of recent developments in financial regulation in the UK. I believe that the rule book of the Securities and Investments Board (SIB) on The Regulation of Investment Business 1 weighs in at 4’A lbs, and it has been revised and amended so many times in the last 12 months that the exercise of keeping one’s red folder in correct order and shape has reached major proportions. Indeed, up until now I have to admit to having failed, and stacked pages of amendments to earlier redrafted Chapters to await proper filing and attention.

Suggested Citation

  • C. A. E. Goodhart, 1995. "The Costs of Regulation (1988)," Palgrave Macmillan Books, in: The Central Bank and the Financial System, chapter 19, pages 440-452, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37915-2_19
    DOI: 10.1057/9780230379152_19
    as

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