Financial Services Authority Chairman Adair Turner will outline his vision for a financially stable future at Clare College, Cambridge this Friday.

Lord Turner, who will present the 2011 Clare Distinguished Lecture in Economics and Public Policy, will be joined by Paul Tucker, Deputy Governor, Financial Stability at the Bank of England. The lecture will examine whether current efforts to reform financial and regulatory systems are going far enough.

Lord Turner’s lecture, entitled ‘Reforming finance: are we being radical enough?’ will place the technical reform of bank capital and liquidity requirements and the treatment of systemically important financial institutions within a wider market and theoretical context.

He will argue that inherent imperfections and instability in investor and bank perceptions of risk means that effective regulation needs to focus on macro factors such as credit cycles and the development of shadow banking activities, as well as on institution by institution regulation. And he will suggest that the 30-year phenomenon of increasing financial intensity, and of apparently related income inequality, raises issues about the economic value added of some financial activities that go beyond the vitally important financial stability agenda.

The lecture, at the Riley Auditorium, Clare College, will start at 5.30pm.

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