Legal Aspects of Financial Services Regulation and the Concept of a Unified Regulator
This study addresses the legal and
policy issues underpinning the development of, and the
strengthening of the regulatory and institutional framework
for unified financial services supervision. The study
discusses developments in a number of jurisdictions, among
them Australia, Canada, Estonia, Germany, Hungary, Ireland,
Latvia, Malta, the Scandinavian countries, the United
Kingdom, and the United States. Chapter 1 examines
conceptual issues to be taken into account in designing a
sound regulatory and institutional framework for financial
services supervision. The chapter also provides a working
definition of "regulation" and delves into the
intricacies of designing the appropriate regulatory
framework. Chapter 2 analyzes the concept of an independent
financial services regulator, arguing that a unified
regulator that is both independent and accountable would
help promote the development of a sound financial sector.
Chapter 3 discusses the concept of a unified regulator,
examining the question of whether every country should adopt
a model of unified financial services supervision. Chapter 4
provides country studies, addressing the efficacy of the
framework for unified financial services supervision in
Latvia, the United Kingdom, and the Scandinavian countries.
Finally, Chapter 5 defines policy recommendations and
possible constitutional, and legal challenges that might be
encountered when a country is considering unifying its
regulation of financial services.
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Bibliographic Details
| Main Author: |
Mwenda, Kenneth Kaoma |
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| Language: | English
en_US |
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| Published: |
Washington, DC: World Bank
2006-01-01
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| Subjects: | ACCOUNTABILITY,
ACCOUNTING,
ADMINISTRATIVE LAW,
ASP,
BANK OF ENGLAND,
BANK OF JAMAICA,
BANKING SECTOR,
BANKING SUPERVISION,
BANKS,
CAPITAL ADEQUACY,
CAPITAL ADEQUACY DIRECTIVE,
CENTRAL BANKS,
CIVIL CODE,
CLEARING HOUSES,
COMPENSATION,
COMPLAINTS,
CONSOLIDATED SUPERVISION,
CONSTITUTION,
CONSUMER INTERESTS,
CONTROL SYSTEMS,
COPYRIGHT,
DIRECTIVES,
DOI,
EMERGING MARKETS,
ENFORCEMENT POWERS,
ENVIRONMENTAL IMPACT,
FEDERAL DEPOSIT INSURANCE,
FEDERAL DEPOSIT INSURANCE CORPORATION,
FINANCIAL CAPACITY,
FINANCIAL INSTITUTIONS,
FINANCIAL MARKETS,
FINANCIAL REGULATION,
FINANCIAL SERVICES,
FINANCIAL SYSTEMS,
GOVERNMENT DEPARTMENT,
GOVERNMENT POLICIES,
INFORMATION TECHNOLOGY,
INSURANCE,
INTEGRATED REGULATION,
INTERNAL CONTROL,
INTERNAL CONTROL SYSTEMS,
INTERNATIONAL LAW,
INVESTMENT BANKS,
JURISDICTIONS,
LEGAL FRAMEWORK,
LEGAL PRACTITIONERS,
LEGAL STATUS,
LEGISLATION,
LIABILITY,
LICENSING,
PENSIONS,
POLICY COMMITTEE,
POLICY OBJECTIVES,
PRIVATE PROPERTY RIGHTS,
PUBLIC POLICY,
REGISTRY,
REGULATOR,
REGULATORS,
REGULATORY AGENCIES,
REGULATORY AUTHORITIES,
REGULATORY AUTHORITY,
REGULATORY BODIES,
REGULATORY ENVIRONMENT,
REGULATORY FRAMEWORK,
REGULATORY FRAMEWORKS,
REGULATORY MANDATE,
REGULATORY OBJECTIVES,
REGULATORY REGIMES,
REGULATORY REQUIREMENTS,
REGULATORY STRUCTURES,
RESERVE BANK OF AUSTRALIA,
RETIREMENT,
RIGHT OF APPEAL,
RULES,
SAFETY,
SUBSIDIARY,
SYSTEMIC RISK,
TRANSPARENCY,
UNIVERSAL BANKING, |
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| Online Access: | http://documents.worldbank.org/curated/en/2006/01/6739115/legal-aspects-financial-services-regulation-concept-unified-regulator
https://hdl.handle.net/10986/6952
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