A nationwide demand for increased transparency fueled the demand for system and regulatory reform.
- As we move to coordinate with international standards will our financial and regulatory systems become more transparent or opaque?
- When all is said and done, how much control will our government have over our nation’s financial and regulatory systems?
Editing note: Taking my lead from Sop, earlier today, I positioned two posts from our files at the top of the page as points of reference. However, in preparation for the week ahead, I’ve added excerpts from both posts following these brief comments or you can click on the title will take you directly to the full post of the Future of Insurance and Regulatory Reform (January 26, 2009) and All the World’s a Stage... (December 5, 2008 ) in our files.
Financial Regulation: A Framework for Crafting and Assessing Proposals to Modernize the Outdated U. S. Financial Regulatory System (GAO, February 4, 2009) contains a graphic depicting the increasingly global aspects of financial markets.
… with the increasingly global aspects of financial markets, the current fragmented U.S. regulatory structure has complicated some efforts to coordinate internationally with other regulators. For example, the current system has complicated the ability of financial regulators to convey a single U.S. position in international discussions, such the Basel Accords process for developing international capital standards, and international officials have also indicated that the lack of a single point of contact on, for example, insurance issues has complicated regulatory decision making.
Take a look at Key Developments and Resulting Challenges That Have Hindered the Effectiveness of the Financial Regulatory System.
We’ve seen the frameworks, we need to see the picture – Continue reading “Regulatory reform – a henhouse welcoming the fox (Updated)”