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Financial Regulation and the Convergence Scenario*

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  • Arthur Ryan

    (Chairman and CEO, The Prudential Insurance Company, Newark, USA)

Abstract

Convergence is the blurring of conventional boundaries separating the traditional providers of once discrete financial services. Although a relatively new phenomenon, convergence is pervasive globally, as evidenced by bancassurance in Europe and the recent spate of high-profile mergers around the world.This paper looks at the market forces driving convergence. It examines how companies are re-positioning themselves in a more global environment, and how regulators are responding to market changes in their respective countries. The paper also looks at the emerging debate over whether a new ‘financial global architecture’ is needed to meet the challenges of regulating global companies. The Geneva Papers on Risk and Insurance (2001) 26, 44–53. doi:10.1111/1468-0440.00093

Suggested Citation

  • Arthur Ryan, 2001. "Financial Regulation and the Convergence Scenario*," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 26(1), pages 44-53, January.
    • Handle: RePEc:pal:gpprii:v:26:y:2001:i:1:p:44-53
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