Bank Corporate Governance: A Comprehensive Bank Regulatory Structure

This essay examines the importance of corporate governance in the banking system and the need for a comprehensive regulatory structure. It discusses the role of the Financial Services Authority (FSA), its dismantling following the 2007-2008 financial crisis, and the subsequent creation of the Financial Conduct Authority and the Prudential Regulation Authority. The essay critiques the FSA's performance, particularly its failure to predict and prevent the financial crisis, and emphasizes the necessity of transparency, risk assessment, and adequate capital support in the banking system. Furthermore, it highlights the importance of effective regulations, market stability, investor protection, and international cooperation in creating a resilient and stable financial environment, ultimately arguing for a more object-oriented regulatory system to prevent future financial crises and promote economic growth.