The Fragmentation of International Regulatory Governance and the Case for a Single Global Financial Regulator
The aim of this paper is to demonstrate that the present fragmentation of financial regulation and supervision — which extends across both financial products and markets and also different national domains — represents a clear and present threat to the stability of international financial markets and institutions. A second major point which we hope to establish is that in an environment of convergent financial markets and globalised institutions, it is imperative that consideration is now given to a single global regulatory authority with responsibility for prudential regulation and solvency.
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