International Financial Services Regulators - is it Time to Set Differences Aside and to Embrace International Regulation?
The need for cross border regulation in financial markets is greater than ever before. In his recent Report (The Turner Review March 2009) Lord Turner states that the origins of the current financial crisis were to a significant degree global and that “global finance without global government” is indicative of “faultlines in the regulatory approach”. In the new financial landscape it is time to set national interests aside and adopt a new regulatory approach to achieve greater consistency in the implementation/enforcement of cross border regulation and supervision.
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