Rule omission,rule migration and the limits of financial industry power

This paper seeks to deepen our understanding of financial industry lobbying efforts that result in specific regulatory rules being dropped from the regulatory agenda, or what we call ‘rule omission’. Critically, existing research either ignores rule omission or characterizes it as the pinnacle of lobbying success. We argue that only in carefully mapping out industry preferences and tracking what happens to rules following their omission can we say something about the extent to which finance wins or loses in its effort to shape regulation. Our analysis is based on two in-depth case studies from the European Union: (1) solvency rules in the Institutions for Occupational Retirement Provision Directive (IORPP II), where rule omission does reflect a strong case of industry influence; and (2) short selling rules in the Alternative Investment Fund Managers Directive (AIFMD), a case of rule omission resulting in more stringent rules over industry activities.     

THE RISE OF THE INTERMEDIATE LEVEL INSTITUTION IN BRITISH PUBLIC ADMINISTRATION: THE CASE OF THE ARTS AND TRAINING

During the 1980s there was both centralization and decentralization in the British policy process. The centre was to be responsible for broad policy whilst the institutions in closest contact with those who consumed or used a service were to be responsible for implementation. This style was, in part, a reaction to the perception that organized interests acted as a severe restraint on the centre. Experience, however, demonstrated government's dependence on the cooperation of organized interests and their intermediate organizations. This article argues that effective policy-making requires the formation of intermediate organizations linking macro- and micro-institutions. These organizations are vital for communication, representation and negotiation and therefore they inevitably constrain the centre's freedom. Effective policy requires a partnership between the centre and sub-centre via intermediate institutions and these institutions are likely to become more important as decentralization continues. The role of intermediate institutions are explored via case studies of training and arts policy.     

Grass-roots Influence: Pressure Groups within the Liberal Democrats

This article examines the self-perceived influence of the specified associated organisations and associated organisations within the Liberal Democrats. The analysis is set within the wider theoretical context of political party construction and the dichotomy between the elite and grassroots activists. The article tests the thesis that there is a hierarchical structure of ancillary organisations within the party and that this determines which organisations feel that they have any real influence. It takes a fresh look at the role of the Liberal Democrat ancillary organisations and questions whether or not their party-sanctioned status restricts their ability and willingness to influence the party.