Publication: Legal Aspects of Financial Services Regulation and the Concept of a Unified Regulator
Date
2006-01-01
ISSN
Published
2006-01-01
Author(s)
Mwenda, Kenneth Kaoma
Abstract
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.
Citation
“Mwenda, Kenneth Kaoma. 2006. Legal Aspects of Financial Services Regulation and the Concept of a Unified Regulator. Law, Justice, and Development. © Washington, DC: World Bank. http://hdl.handle.net/10986/6952 License: CC BY 3.0 IGO.”