Democracy and Diversity in Financial Market Regulation : Routledge : 9781138685895 : 1138685895 : 24 Apr 2016 : "The book introduces international developments through a hundred years history of regulation on the City of London. Regulation is shown to be a historically-entrenched masquerade: private regulation behind a public faðcade. The UK reconciled the coming of democracy with a continuation of private regulation in the City by holding them separate. International networking and EU integration channelled UK and US traditions and their consequences into Europe. The pre-crisis myth was that expertise could steerfinancial markets. Technocrats drove policies. Agenda making drifted upward, from the national (or more specifically city) level, to international networks. Convergence of regulatory thinking and rule making levelled the 'playing field' - to the advantage of large transnational market participants, yet exacerbating market herding, similarity of business strategies, connectedne