Legal Aspects of Financial Services Regulation and the Concept of a Unified Regulator

Mwenda, Kenneth Kaoma

Washington, DC:World Bank

关键词: ACCOUNTABILITY;    ACCOUNTING;    ADMINISTRATIVE LAW;    ASP;    BANK OF ENGLAND;   

DOI  :  10.1596/978-0-8213-6459-8
RP-ID  :  35919

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This study addresses the legal andpolicy issues underpinning the development of, and thestrengthening of the regulatory and institutional frameworkfor unified financial services supervision. The studydiscusses developments in a number of jurisdictions, amongthem Australia, Canada, Estonia, Germany, Hungary, Ireland,Latvia, Malta, the Scandinavian countries, the UnitedKingdom, and the United States. Chapter 1 examinesconceptual issues to be taken into account in designing asound regulatory and institutional framework for financialservices supervision. The chapter also provides a workingdefinition of "regulation" and delves into theintricacies of designing the appropriate regulatoryframework. Chapter 2 analyzes the concept of an independentfinancial services regulator, arguing that a unifiedregulator that is both independent and accountable wouldhelp 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 adopta model of unified financial services supervision. Chapter 4provides country studies, addressing the efficacy of theframework for unified financial services supervision inLatvia, the United Kingdom, and the Scandinavian countries.Finally, Chapter 5 defines policy recommendations andpossible constitutional, and legal challenges that might beencountered when a country is considering unifying itsregulation of financial services.