Globalizing Economies: Changing role of regulations and regulatory agencies
Nations needs to redefine the way it regulates in globalizing economies.
What are the risks and challenges you see in the structure, operation, accountability, and performance of the current regulatory bodies within your nation?
What changes you see are critical and necessary for the success of your nation in the globalizing economies?
Let me know your thoughts. Please specify which nation you are addressing.
Jayshree Pandya PhD
Global Risk Advisor
I believe that the U.S. financial regulatory system must recognize the fact that financial institutions can no longer be designated as banks, investment banks, broker dealers, etc.- that the separation of these entities no longer exists. As a result, it does not make sense to continue to have separate regulators for banks and investment firms. I support the recommendation put forth by the Treasury’s Blueprint for a Modernized Financial Regulatory Structure that calls for objective-based approach to regulation. the structure would call for a market stability regulator, a prudential regulator, and a business conduct regulator. These regulators would oversee all financial institutions.
I also believe that there needs to be additional regulation of hedge funds and the derivatives markets and settlement functions.