In the middle of the great financial crisis, French President Nicolas Sarkozy declared it was time for governments to assert their control over financial markets. "The idea that the market is always right is a crazy idea," he said. Regulators around the world took his words to heart: for seven years, they have squeezed nearly every aspect of financial activity in attempting to remove any chance for "systemic risk."
But are they going too far? Risk is essential to all markets. In their efforts to stamp out risk, policymakers jeopardize the benefits of financial risk-taking—innovation, enterprise, and economic growth. Yet as banking regulators have gained increasing power in the post-crisis world, their "safety and soundness" viewpoint is gaining steam, favoring stability over dynamism, prudence over informed risk-taking. This trend puts financial regulation on a collision course with economic policy, as leaders in Japan, Europe, and elsewhere hope to bring the diversity and vigor of stronger capital markets to their economies. In his speech—"Enough Already: Is Post-Crisis Financial Reform Going Too Far?"—ICI President and CEO Paul Schott Stevens will describe the campaign to banish risk and detail the harmful consequences if it succeeds. Paul is a popular and entertaining speaker, and has been active in financial services policy formulation for most of his career. For the past 12 years he has served as president and CEO of the Investment Company Institute, a leading global advocacy body for the regulated fund industry. He was a former Special Assistant for National Security Affairs during the Reagan administration and was resident in Tokyo as a U.S.-Japan Leadership Fellow in 1980. Douglas Hymas, David W. Nichols, Co-chairs Kenji Nishiyama, Frank Packard, David Tse, Dai Tsujita, Vice Chairs Andrew Conrad, Board Liaison ACCJ Investment Management Committee NOTE 1: This event is ON THE RECORD. NOTE 2: If you cancel after the stated deadline, the full meeting fee will be charged to your account. Sorry, no substitutions or walk-ins. NOTE 3: If you are driving to Tokyo American Club, please inform the ACCJ in advance as arrangements must be made and a 1,100 yen parking fee will apply. Comments are closed.
|
Details
If you need to cancel your registration due to illness, travel to affected areas within the past 14 days, or contact with someone who has traveled to affected areas, and the cancellation deadline has passed, please contact programs@accj.or.jp and accommodations will be made through March. For more details, please click here.
Events by Month
May 2020
Location
|