First proposed in 1994, the Twin Peaks model of financial system regulation employs two specialist peak regulators: one charged with the maintenance of financial system stability, and the other with market conduct and consumer protection. This volume, with contributions from over thirty scholars and senior regulators, provides an in-depth analysis of the similarities and differences in the Twin Peaks regimes that have been adopted around the world. Chapters examine the strengths and weaknesses of the model, provide lessons from Australia (the first to adopt the model), and offer a comparative look at the potential suitability of the model in leading non-Twin Peaks jurisdictions. A key resource for central bankers, public policy analysts, lawyers, economists, politicians, academics and students, this work provides readers with a comprehensive understanding of the Twin Peaks model, and a roadmap for countries considering its adoption.

‘This book provides, for the first time, a comprehensive analysis of the ‘twin peaks’ model of financial regulation across multiple jurisdictions, drawing on insights from academics and regulatory practitioners to explore the important question of how the architecture of financial regulation should be organised in order to best achieve its multiple objectives.’

Julia Black - CBE, FBA, author of Rules and Regulators

‘Twin Peaks is a division of regulatory responsibilities first substantially implemented in Australia and now proving increasingly popular around the world. This handbook assembles many leading regulatory scholars to analyse its rise and chart its potential future course. I commend this important contribution to all who are interested in how banking and finance might better be regulated.’

Ross Buckley - KPMG-KWM Professor of Disruptive Innovation, UNSW Sydney