Turner Review March 2009: a review

Professor G A Walker, Centre for Commercial Law Studies, London

Lord Adair Turner, Chairman of the FSA, delivered his review on the regulatory response to the global banking crisis on 18 March 2009[1]. Lord Turner had been asked by the Chancellor to provide a report following his appointment in September 2008 on the origins of the financial crisis with an assessment of the regulatory deficiencies that arose and to make recommendations for reform. Turner had outlined a number of the key ideas contained in the review in an earlier speech on the financial crisis in January 2009[2]. This followed other speeches by key FSA personnel on aspects of the crisis including structured finance, investors and deterrents[3].