Asset management and investor protection : an international analysis /

This volume contains an excellent discussion of the regulatory framework in which asset managers function in various continental European countries, the UK, and the US. The working definition of asset management involves those who provide investment services to individuals, governments, public agencies, banks, and pension funds. They interface between investors and financial markets and issuers of securities. The problem of market failure in asset management stems from asymmetric information and the impact this has on the principal-agent relationship. As the authors demonstrate, regulation to address these issues is carried out differently in different countries. Yet all, to one degree or another, address these issues. The conundrum is how to use regulation to better protect investors without having a dilatory effect on competition. Although a highly specialized work, this book is suitable for undergraduate libraries supporting courses in economics of financial regulation. ^BSumming Up: Recommended. Upper-division undergraduate through professional collections. W. S. Curran Trinity College (CT)