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The authors of the explore of the rationales behind legal rules which offer protection to investors and demonstrate how these rules inter-relate with competition law, consumer protection and public policy. This book was prepared in order to update the original text after the legislative changes announced in the autumn of 1998. The Chancellor of the Exchequer announced earlier that year that responsibility for banking supervision would be transferred from the Bank of England to a new strengthened Securities and Investment Board. More importantly, the latter will oversee a "new and fully statutory" system which will replace the financial services sector's current system of self-regulation.