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    2020 - Class 9 - Turner For Stud

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    Lord Adair Turner, chairman of the Financial Services Authority (FSA) at the time, delivered a speech in 2008 at the Mansion House in London. [1] He outlined the important roles of the financial system but also identified key problems highlighted by the financial crisis, such as excessive risk taking. [2] Lord Turner believed regulators needed to change their approach after the crisis to better monitor systemic risk. [3]

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    2020 - Class 9 - Turner For Stud

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    24 views2 pages
    Lord Adair Turner, chairman of the Financial Services Authority (FSA) at the time, delivered a speech in 2008 at the Mansion House in London. [1] He outlined the important roles of the financial system but also identified key problems highlighted by the financial crisis, such as excessive risk taking. [2] Lord Turner believed regulators needed to change their approach after the crisis to better monitor systemic risk. [3]

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    Lord Adair Turner, chairman of the Financial Services Authority (FSA) at the time, delivered a speech in 2008 at the Mansion House in London. [1] He outlined the important roles of the financial system but also identified key problems highlighted by the financial crisis, such as excessive risk taking. [2] Lord Turner believed regulators needed to change their approach after the crisis to better monitor systemic risk. [3]

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    24 views2 pages

    2020 - Class 9 - Turner For Stud

    Uploaded by

    Cartie
    Lord Adair Turner, chairman of the Financial Services Authority (FSA) at the time, delivered a speech in 2008 at the Mansion House in London. [1] He outlined the important roles of the financial system but also identified key problems highlighted by the financial crisis, such as excessive risk taking. [2] Lord Turner believed regulators needed to change their approach after the crisis to better monitor systemic risk. [3]

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    FM101 - FINANCE

    Lent Term 2020


    Dr Elisabetta Bertero
    CLASS 9

    For classes in Week 11, starting Monday, 30th March 2020


    Questions related to Lecture 9 and preparation for Lecture 10:
    Financial systems and recent financial crisis

    PREPARATION

    Download and read carefully the reading posted on Moodle for Class 9.

    Normally, this classwork is done in groups.


    However, due to the current circumstances,
    you can choose whether to prepare the class in a group or individually.

    Use Zoom meetings as a way to connect with a group of three or four students.
    You can choose a group among the students you know, without restrictions.

    During Week 10, meet with your group via Zoom to discuss the questions below.

    Prepare the answers in writing,


    one paragraph for each question.
    Make sure you prepare the last question with some internet research.

    Classes are held via Zoom meetings. Click on the invitation on Moodle to participate.
    Do attend classes even if you feel you have not prepared everything. You will benefit from the
    teaching and it will keep your studying rhythm regular in these disruptive times.
    Reading:  speech by Lord Adair Turner (posted on Moodle) 
     
     
     
    The context 
    1. Who is Lord Adair Turner? 
     
    2. What was the FSA at the time of this speech? 
     
    3. What is the City of London? Who is and what is the role of the Lord Mayor of the City of London? 
     
    4. Where did this speech take place?  Explain. 
    5.  
    The speech 
    1. What are, according to Lord Turner, the important positive roles of the financial system? 
     
    2. What does Lord Turner say are the core functions of financial institutions? See also Lecture 8 
     
    3. What does he see as the strengths and contributions of the City of London? 
     
    4. In what way does he think the activities of the financial markets differ from those of other markets? 
     
    5. And why are financial products different from consumer goods? 
     
    6. What have been the consequences of the financial crisis for the British economy? 
     
    7. What does he identify as the main problems ‐ highlighted by the current financial crisis ‐ with some 
    financial activities? 
     
    8. What was the FSA approach to regulation before the crisis? 
     
    9. How and why should the role of regulators change after this crisis? 
     
    10. What is Lord Turner’s view on bonuses paid to bankers? 
     
    Your views 
    11. Given the context and the content, what do you think of this speech? 
     
     
    The new regulatory framework 
    12. What happened to the FSA in 2012? Explain. 
     
    13. What is the Financial Services Regulatory Framework? What institutions were created as a 
    consequence of the post‐2007 financial crisis reforms? Explain. 

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