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Group of Thirty issues road‐map for financial reforms

Group of Thirty issues road‐map for financial reforms Purpose – The purpose of this paper is to summarize the Group of Thirty's recommendations and explain how they relate to other concurrent financial market regulatory initiatives in the USA, UK, and Europe. Design/methodology/approach – The paper summarizes the report's four core recommendations, describes how they relate to recent reports by the US Treasury Department, the US Chamber of Commerce, and Committee on Capital Markets Regulation, and discusses how they may signal the direction of forthcoming domestic and coordinated international regulation. Findings – Momentum has been building for consolidation, increased oversight, and international coordination of the legal and regulatory framework that governs the financial industry. The report has an unabashedly pro‐regulatory agenda. Originality/value – The paper provides helpful reference on the current direction of international financial institution regulation http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Investment Compliance Emerald Publishing

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Publisher
Emerald Publishing
Copyright
Copyright © 2009 Emerald Group Publishing Limited. All rights reserved.
ISSN
1528-5812
DOI
10.1108/15285810910971292
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to summarize the Group of Thirty's recommendations and explain how they relate to other concurrent financial market regulatory initiatives in the USA, UK, and Europe. Design/methodology/approach – The paper summarizes the report's four core recommendations, describes how they relate to recent reports by the US Treasury Department, the US Chamber of Commerce, and Committee on Capital Markets Regulation, and discusses how they may signal the direction of forthcoming domestic and coordinated international regulation. Findings – Momentum has been building for consolidation, increased oversight, and international coordination of the legal and regulatory framework that governs the financial industry. The report has an unabashedly pro‐regulatory agenda. Originality/value – The paper provides helpful reference on the current direction of international financial institution regulation

Journal

Journal of Investment ComplianceEmerald Publishing

Published: Jun 12, 2009

Keywords: Financial restructuring; Finance

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