The Strange Case of Doctor Jekyll (Alias the UK HM Treasury) and Mr Hyde (Alias its Public Debt Management) in the Aftermath of the Global Financial Crisis

Author(s):  
Yuri Biondi
Author(s):  
Spangler Timothy

This chapter focuses on the increase in the amount of litigation and enforcement actions against private investment funds in the United States, the UK, and across the globe as a result of the global financial crisis. As more disputes arose during the course of the global financial crisis, the legal and regulatory regime impacting private investment funds has been the subject of closer scrutiny than has been seen in previous decades. The chapter first considers the Securities and Exchange Commission’s (SEC) enforcement actions against hedge funds as well as U.S. civil litigation prior to the financial crisis before discussing Dodd-Frank and its effect on enforcement. It then examines the SEC’s enforcement actions regarding broker-dealer registration, along with some of its key enforcement actions after Dodd-Frank. It also analyses the Financial Conduct Authority’s enforcement priorities after the global financial crisis and key litigation in the UK involving private investment funds.


2020 ◽  
Vol 253 ◽  
pp. R18-R28
Author(s):  
Marianne Sensier ◽  
Fiona Devine

We investigate economic resilience of UK regions before, during and after the 2007/8 global financial crisis. We date business cycle turning points in real output, employment and productivity to assess the resilience dimensions of resistance, recovery and renewal and rank the economic resilience of regions in a resilience scorecard. Our empirical results reveal that the business cycle in productivity has not returned to its pre-recession peak level for Yorkshire and the Humber and the employment level has not recovered in Scotland. The resilience scorecard ranks the South East as the most resilient region with Northern Ireland the least resilient.


Policy Papers ◽  
2010 ◽  
Vol 2010 (2) ◽  
Author(s):  

The global financial crisis has had a significant impact on low-income countries (LICs)’ debt vulnerabilities. Recent debt sustainability analyses (DSAs) indicate that external and fiscal financing requirements have increased. In addition, standard measures of a country’s capacity to repay debt?GDP, exports, and fiscal revenue?are expected to be permanently lower. On average, debt ratios are therefore expected to deteriorate in the near term, particularly for public debt.


2016 ◽  
Vol 35 (1) ◽  
pp. 201-215 ◽  
Author(s):  
Thanh Dat Nguyen ◽  
Sandy Suardi ◽  
Chew Lian Chua

2016 ◽  
Vol 24 (2) ◽  
pp. 36-38

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – Participants reported diminishing personal control over changes within the workplace and a cultural shift toward a harsher working climate in the UK following the global financial crisis. Human resource development was considered as silenced or absent and associated solely with low cost-based e-learning rather than acting in a strategic role to support sustainable business objectives. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.


2020 ◽  
Vol 17 (2) ◽  
pp. 46-56 ◽  
Author(s):  
Ahmed Hassanein ◽  
Mohsen Younis

The global financial crisis has created pessimism in terms of prospects of sales rebounding in the future. Therefore, this study aims to examine the stickiness behaviors of firm costs pre, during and post the period of the financial crisis. It uses a sample from the UK chemical industry over the period from 2001 to 2015. The ABJ sticky cost model is applied with the following cost categories: total costs, cost of goods sold, operating costs, selling, general and administrative costs, salaries and benefits, and finance costs. The ABJ sticky cost models are run separately for each cost category over pre (2001-2007), during (2007-2009) and post (2010-2015) the financial crisis. The study finds that total costs have behaved as sticky pre the financial crisis and anti-sticky during and post the financial crisis. Furthermore, cost of goods sold has changed from sticky (pre and during the financial crisis) to anti-sticky (post the financial crisis). Furthermore, salaries and benefits costs have changed from sticky (pre the financial crisis) to anti-sticky (during the financial crisis) and financing costs from sticky (pre the financial crisis) to anti-sticky (after the financial crisis). However, there is no variation in the behavior of selling, general and administrative costs pre and post the financial crisis


2019 ◽  
Author(s):  
Charlotte Cavaille ◽  
Federica Liberini ◽  
Michela Redoano ◽  
Anandi Mani ◽  
Vera E. Troeger ◽  
...  

Most, if not all advanced economies have suffered gravely from the 2008 global financial crisis. Growth, productivity, real income and consumption have plunged and inequality, and in some cases poverty, spiked. Some countries, like Germany and Australia, were better able to cope with the consequences but austerity has taken its toll even on the strongest economies. The UK is no exception and the more recent period of economic recovery might be halted or even reversed by the political, economic, and policy uncertainty created by the Brexit referendum. This uncertainty related risk to growth could be even greater if the UK leaves the economic and legal framework provided by the EU. This CAGE policy report offers proposals from different perspectives to answer the overarching question: What is the role of a government in a modern economy after the global financial crisis and the Brexit vote? We report on economic and social challenges in the UK and discuss potential policy responses for the government to consider. Foreword by: Lord O’Donnell of Clapham.


2019 ◽  
pp. 112-135
Author(s):  
Huw Macartney

This chapter covers the early 2000s in the UK as a backdrop to the legitimacy crisis that unfolded as the global financial crisis hit. It explains the institutional set-up and the regulatory mindset that prevailed during the 2000s. This helps to explain what changed as financial crisis hit. Using opinion poll data the chapter then explores the fall in public confidence in both banks and state managers as a means of tracking the legitimacy crisis. Then the chapter explores the austerity agenda and rising protests in the UK, before explaining the nascent populist response by UK state managers at the early stage of the financial crisis.


This book is the first to draw together the numerous different regulations which affect how commodities are traded in the EU. Having long been a largely deregulated industry, intense scrutiny in the aftermath of the global Financial Crisis in 2008 has left commodities trading subject to a raft of harmonized regulations, many of which have yet to be finalized. Regulation of both the physical and the financial commodities markets is undergoing significant change and participants and their advisers are struggling to understand the changes in each jurisdiction as well as the cross-border implications. The book pulls together these various pieces of EU legislation and examines how they influence the way that commodities are traded in Europe. It also provides coverage of regulation at domestic level in key jurisdictions active in the marketplace, namely the UK, US, Switzerland, and Singapore. Divided into eight sections, the book includes analysis of the commodities trading houses (including their motives and methods), the main trading venues, trading practices, and potential illicit practices and market abuses. Each section has a detailed transnational component in which the position in each specific jurisdiction is explained, drawing parallels and setting out the differences between these countries.


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