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Reforming the capital markets

Without serious reforms, further financial crises remain a real threat

By Steve Waygood  


The financial crisis of 2008 demonstrated the way in which poor corporate governance can have grave consequences for the global economy. It made clear to the industry the need for improved regulation of firms and investors. The recent review of equity markets and long-term decision making by the economist John Kay, which was commissioned by Vince Cable, presented an excellent analysis of the shortcomings of investment markets. However, the report failed to put forward policy proposals…

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