The final report of the Kay Review of UK Equity Markets and Long Term Decision-Making was launched last month to a flurry of responses and critiques from across the financial industry.
Amongst the recommendations were:
"Two quite interesting papers have recently been published, related to the questions at the core of NSFM’s inquiry: what causes financial instability, and what can be done to address it, both as a regulatory matter and as a matter of behavioral change. The first paper, entitled "Too Much Finance", is by three IMF economists, Jean-Louis Arcan, Enrico Berkes and Ugo Panizza.
Institutional investors — including executives at pension funds, foundations, endowments and sovereign wealth funds — as well as investment managers and investment consultants are being surveyed.