Agenda Archive

Bust that trust: a new era?

February 2014

In the UK, the Leader of the Opposition has called for reform of ‘broken markets’, and market share caps for current accounts and small business lending, enforced by the new Competition and Markets Authority. Does this usher in a new era of ‘trust-busting’ competition authorities? We comment from an economic and public policy (but non-political) perspective

The regulatory asset base and regulatory commitment

February 2014

The regulatory asset base (RAB) is a key aspect of infrastructure industry regulation in the UK and elsewhere. Jon Stern, Honorary Visiting Professor at City University, London, argues that the most important feature of the RAB is the process by which it is reassessed and revised, and that this provides considerable evidence on the consistency and transparency of regulatory regimes

LIBOR damages claims: counterparties and complex counterfactuals

February 2014

The heavy fines imposed by regulators in Europe and the USA on banks involved in LIBOR manipulation have reopened speculation about the potential volume and value of follow-on damages claims. But what are the key issues that could determine the true liability and amount of damages?

Best practice for price-controlled companies: business plans and bidding

February 2014

In 2010, Oxera Non-executive Director, Mike Toms, wrote a series of Agenda articles setting out principles for best practice for regulated companies in price reviews, based on his long experience and observations as a regulation executive. Since then, he believes that companies have become better organised and regulators more sophisticated. New issues have arisen, and excellent examples of best practice have emerged—but also new mistakes. He now asks: how should these guiding principles be revised and expanded?