Someone Else's Problem: A Case Study in Regulatory Failure

Shauna Ferris

Someone Else's Problem: A Case Study in Regulatory Failure

Department of Actuarial Studies and Business Analytics

Research output: Contribution to conference › Abstract

Abstract

There are always people who are willing to gamble with other peoples money for personal and ownership of an insurance company provides a wonderful opportunity to do so. Theoretically, there should be safeguards in place to prevent this: legislative restrictions, solvency requirements, regulatory oversight, accounting and actuarial standards, rating agencies, etc. This paper looks at one case study where these safeguards were spectacularly ineffective.

Original language	English
Publication status	Published - 2008
Event	Innovation in Financial Markets - Melbourne Duration: 19 May 2008 → 20 May 2008

Conference

Conference	Innovation in Financial Markets
City	Melbourne
Period	19/05/08 → 20/05/08

Keywords

Regulatory Failure: Guarantee Security Life Insurance Company
Junk bonds
Milken
Reinsurance
Control Fraud

Cite this

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PY - 2008

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N2 - There are always people who are willing to gamble with other peoples money for personal and ownership of an insurance company provides a wonderful opportunity to do so. Theoretically, there should be safeguards in place to prevent this: legislative restrictions, solvency requirements, regulatory oversight, accounting and actuarial standards, rating agencies, etc. This paper looks at one case study where these safeguards were spectacularly ineffective.

AB - There are always people who are willing to gamble with other peoples money for personal and ownership of an insurance company provides a wonderful opportunity to do so. Theoretically, there should be safeguards in place to prevent this: legislative restrictions, solvency requirements, regulatory oversight, accounting and actuarial standards, rating agencies, etc. This paper looks at one case study where these safeguards were spectacularly ineffective.

KW - Regulatory Failure: Guarantee Security Life Insurance Company

KW - Junk bonds

KW - Milken

KW - Reinsurance

KW - Control Fraud

UR - https://www.scopus.com/pages/publications/58149168584

M3 - Abstract

Y2 - 19 May 2008 through 20 May 2008

ER -

Someone Else's Problem: A Case Study in Regulatory Failure

Abstract

Conference

Keywords

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Cite this