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I can think of some bulge bracket MDs who I’m sure have dreamt of dishing out a spot of corporal punishment to discipline wayward juniors. For them, however, the idea is just that — an idea that would never see the light of day.

Financial regulation, for anyone following it closely, is a microcosm of the weaknesses and the strengths of the European Union. It is at times maddening, confusing, incoherent, and vindictive, but gives the countries of Europe a collective voice far stronger than any individual jurisdiction. And, slowly but surely, it is creating a single market for capital.

When the covered bond purchase programme (CBPP3) began in October 2014, valuations had become severely overstretched, and not long after the purchasing began, the market came under considerable pressure. Valuations are once again looking overstretched across the board but more so in the corporate sector where eurosystem buying has also only just begun.

Several equity capital market transactions mooted by the Indian government have ruffled feathers recently, with the mandates for Cochin Shipyard and NMDC delayed due to disagreements on low fees. But the government isn’t the one to blame. If banks want an end to price undercutting, they need to take action.

Follow the VOTE NOW link to have your say in GlobalCapital's inaugural Sustainable and Responsible Capital Markets Poll. You have until Wednesday 3 August to cast your vote.

Several of GlobalCapital’s correspondents spent the week in Barcelona, hiding from Brexit polls and enjoying the benefits of European integration with 3,000 securitization professionals. But the tone from the conference was far from enthusiastic.

Much of the debate around MSCI’s decision to not add A-shares has focused on China’s need to reduce its capital controls. But with Beijing unlikely to let go of the reins anytime soon and MSCI strident in its need for reform, the two sides have reached an impossible impasse unless a compromise can be made.

Be under no illusion. A vote by Britain to leave the EU would be a cataclysmic event for the European capital markets. In the worst case scenario — Brexit kicking off a full EU collapse — it could make the horrors of late 2008 look like a picnic.

Falling government bond yields across Europe have meant investors have been rewarded with impressive returns so far this year. One country however, continues to lag. Portugal has seen its credit risk hover at elevated levels and its government bonds have produced negative returns this year.

Predictions from both sides in Britain’s EU referendum suggest economic disaster if the country votes the ‘wrong’ way. But history shows the dangers of doom-mongering.

Conferences are supposed to be fun, especially if you’re an invited guest, which usually leads to a perfect concoction of free booze, food and five star accommodation. Unfortunately that wasn't the case on my recent trip to Beijing — quite the opposite in fact.

China’s efforts to meet MSCI’s demands for index inclusion proved to no avail with the firm rejecting A-shares for a third time. No doubt Beijing is miffed, but MSCI has good reasons to hold off for now.