In the past week:  

  • Verena Ross spoke to financial analysts on efficient markets and regulation. She looked at how market efficiency decreased during the financial crisis and discussed various perspectives on the "Efficient Markets Hypothesis". She also considered how regulatory intervention can improve market outcomes after a market failure; and  
  • Dan Waters spoke to an International Fund forum in Monaco on the future of financial regulation. He looked at the European initiatives relevant to fund management, including the AIFD. He said that while there is much in the draft that the UK supports, the lack of consultation and rushed process meant there were many unwelcome surprises. It is crucial to take the time needed to get the Directive right. He moved on to discuss the critical aspects of the Directive and the questions that remain open on some issues.