Ojo, Marianne (2008): Regulatory Strategies.
Download (141Kb) | Preview
Over the years, there has been a shift from a wide command-and-control style of supervision whereby the regulator imposes detailed rules with which regulators supervise to one which consists of risk based regulatory strategies. ‘Enforced Self Regulation’, a regulatory strategy whereby negotiation takes places between the State and the individual firms, lies between the command-and-control style of supervision and meta risk regulation in that firms are still required to regulate but according to their own models. It differs from the traditional command-and-control style of bank supervision in that firms and not the regulator, are required to regulate. It is similar to meta-risk regulation in that the individual firm’s model is taken into consideration in regulating such firms.
Whilst the merits and disadvantages of the individual regulatory strategies are considered, this paper concludes that all regulatory strategies should take into consideration the importance of management responsibilities – both on individual and corporate levels.
|Item Type:||MPRA Paper|
|Original Title:||Regulatory Strategies|
|Subjects:||K - Law and Economics > K2 - Regulation and Business Law|
|Depositing User:||Dr Marianne Ojo|
|Date Deposited:||28. Sep 2008 00:14|
|Last Modified:||26. Feb 2013 13:07|
Ayres I and Braithwaite J Responsive Regulation: Transcending the Deregulation Debate New York: Oxford Union Press 1992 pages 4-129
Barth JR, Caprio Jr G, Levine R, 'Bank Regulation and Supervision: What Works Best?' pages 1-2
Black J, 'Decentring Regulation: Understanding the Role of Regulation and Self-Regulation in a 'Post – Regulatory' World 2001 in M. Freeman (ed) page 103
Goodhart CAE, The Emerging Framework of Financial Regulation The Financial Markets Group of the London School of Economics 1998 pages 95-96
Gray J and Hamilton J Implementing Financial Regulation 2006 page 5
Hadjiemmanuil C, 'Institutional Structure of Financial Regulation: A Trend Towards Megaregulators, United Kingdom: Full Consolidation as a Response to the Inefficiencies of Fragmentation' page 109
Hitchins J, Hogg M and Mallet D, Banking : A Regulatory Accounting and Auditing Guide Institute of Chartered Accountants 2001 page 163
Llewellyn D, 'The Economic Rationale For Financial Regulation' Financial Services Authority London Occasional Paper 1 April 1999 pages 10 – 11
Oxford English Dictionary, < http://www.http://dictionary.eod.com >
Quinn B, ‘Rules v Discretion: The Case of Banking Supervision in the Light of the Debate on Monetary Policy’, Special Paper 85, July 1996 Financial Markets Group, London School of Economics
Shapiro M, ‘Administrative Discretion: The Next Stage’, Yale Law Journal, Vol. 92, 1487 (1983) page 1510.
Sikka P, 'Policing Knowledge by Invoking the Law: Critical Accounting and the Politics of dissemination' page 11
Singh D, ' Legal Aspects of Prudential Supervision' 2007 page 83
“The Financial Services Authority : Too big for its suits?” The Economist November 15th 2001 <http://www.economist.com/displaystory.cfm?story_id=866271>
' The Relationship between Banking Supervisors and Banks' External Auditors' Jan 2002 para 29 page 8 <http://www.bis.org/publ/bcbs87.pdf>