Comment

Abstract

Catherine England has put together a concise and extremely useful overview of the key issues in the ongoing debate over regulatory restructuring that, for the past decade or so, has been the major preoccupation of many of those attending this conference. By and large, I find the facts of the story to be accurately and fairly represented; the analysis generally on the mark; the conclusions, with few exceptions, to be consistent with the results of more rigorous theoretical and empirical treatises on narrower aspects of the issue; and the description of proposed solutions, if not comprehensive, at least representative of the seemingly infinite number of proposals that have been offered in recent years. Catherine is also to be commended for her restraint in simply listing her own preferred solution as but one of those that have been proposed.