Regulating Robo Advice Across the Financial Services Industry

The Norwegian Financial Services Industry

“islamic Financial Services Industry: the European Challenges”

What is Islamic Finance? There are at least three characteristics which makes it different from the conventional debt finance. First, it prohibits riba or interest, or in other words a fixed and pre-determined rate of return to be paid on the deposits or to be received from the borrowers. The rate of return is variable and determined by the profit and loss that the bank makes during a given per...

Regulating the Financial Analysis Industry: Is the European Directive Effective?

New regulations aimed at curbing conflicts of interests in the financial analysts’ profession have been adopted both in the US (Sarbanes-Oxley Act, Section 501) and in the European Union (Market Abuse Directive and CD2003/125). While more than 60% of the US recommendations have been shown to be potentially biased because of investment banking relationships, this proportion is as low as 2% to 8%...

Misconduct in Financial Services: Differences across Organizations

We examine misconduct in Önancial services. We propose a theory in which experts extract surplus based on the value of their Örmís brand and their own skills. Using sales complaint data for insurance agents, we Önd that agents working exclusively for large branded Örms are more likely to be the subject of justiÖed sales complaints, relative to smaller independent experts, despite doing substant...

Regulation and the Evolution of the Financial Services Industry

This paper provides a foundation for evaluating recent changes in regulatory design in light of the increasingly competitive and dynamic environment of banking. Intrusive, control-oriented direct and indirect approaches to regulation have become very costly. Regulation that focuses on setting minimum requirements will become dominant. Supervision would then primarily aim at verifying compliance...