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Regulating (From) the Inside

The Legal Framework for Internal Control in Banks and Financial Institutions

By: Iris H-Y Chiu
Media of Regulating (From) the Inside
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Published: 25-01-2018
Format: Paperback
Edition: 1st
Extent: 360
ISBN: 9781509920099
Imprint: Hart Publishing
Dimensions: 234 x 156 mm
RRP: £32.99

: 14 -21 days

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Loren Epson

About Regulating (From) the Inside

This book examines a key aspect of the post-financial crisis reform package in the EU and UK-the ratcheting up of internal control in banks and financial institutions. The legal framework for internal controls is an important part of prudential regulation, and internal control also constitutes a form of internal gate-keeping for financial firms so that compliance with laws and regulations can be secured. This book argues that the legal framework for internal control, which is a form of meta-regulation, is susceptible to weaknesses, and such weaknesses are critically examined by adopting an interdisciplinary approach. The book discusses whether post-crisis reforms adequately address the weaknesses in regulating internal control and proposes an alternative strategy to enhance the 'governance' effectiveness of internal control.

Table Of Contents

Part I: The Elements of Internal Control in Banks and Financial Institutions
1. The Role of Internal Control in the Meta-Regulation of Financial Institutions
2. The Role of Compliance
3. The Role of Risk Management
4. The Role of Internal Audit
5. The Contextual Frameworks of Corporate Governance
Part II: Making Internal Control Effective in Banks and Financial Institutions
6. Regulating Aspects of Corporate Governance and Organisational Culture as a Broader Framework for Internal Control
7. Incentive-Based Approaches to Improve Internal Control Efficacy: Enforcement and Whistle-Blowing
8. The Need for Enhanced Professionalism for Internal Control Functions
9. Concluding Remarks


Regulating (From) the Inside is an excellent handbook for internal control professionals seeking better understanding of their roles and responsibilities, and also for regulators and financial firm managers trying to improve relations with firms' internal control professionals.” –  Thomas H Stanton, Banking and Finance Law Review

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