Mathematics and Financial Regulation

I will address the question why we need regulation and why we need risk measures.  These risk measures should be useful both in regulation and in allocating risk capital.  I will also address the question whether presently used measures are adequate for this purpose and why they encourage risk taking instead of avoiding risky behaviour.

	About the speaker: Professor Delbaen is Professor Emeritus at the Department of Mathematics at ETH Zurich. Till his retirement in 2008 at ETH, he was Professor at the Chair of Financial Mathematics.   He has made seminal contributions to key areas of mathematical finance including developing theoretical foundations for the fundamental theorem in asset pricing as well as in development of an axiomatic view on risk measurement.  Professor Delbaen is a recipient of the Louis Empain Prize and the international INA prize for actuarial Sciences. He is a Fellow of the Institute of Mathematical Statistics.