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Article: Does Objectives-Based Financial Regulation Imply A Rethink of Legislatively Mandated Economic Regfulation? A Literature Review

TitleDoes Objectives-Based Financial Regulation Imply A Rethink of Legislatively Mandated Economic Regfulation? A Literature Review
Authors
Issue Date2020
PublisherUniversity of Notre Dame.
Citation
Notre Dame Journal of Legislation, 2020, v. 46, p. 245-275 How to Cite?
AbstractObjectives-based legislation—or laws that focus on achieving particular and concrete outcomes—has become a new and important tool that financial sector regulators use to tackle large and varied financial system risks. Yet, objectives- based legislation—and the frequent principles-based regulation underpinned by such legislation—represents a stark departure from traditional ways of legislating. In this paper, we describe the problems and prospects of implementing objectives- based financial regulation—in the form of a Twin Peaks regulatory structure. A focus on the objectives of achieving financial market stability and proper market conduct would require a different approach to legislating and regulating in most other countries.
Persistent Identifierhttp://hdl.handle.net/10722/294623

 

DC FieldValueLanguage
dc.contributor.authorMichael, B-
dc.contributor.authorGoo, SH-
dc.contributor.authorOsaulenko, S-
dc.date.accessioned2020-12-08T07:39:35Z-
dc.date.available2020-12-08T07:39:35Z-
dc.date.issued2020-
dc.identifier.citationNotre Dame Journal of Legislation, 2020, v. 46, p. 245-275-
dc.identifier.urihttp://hdl.handle.net/10722/294623-
dc.description.abstractObjectives-based legislation—or laws that focus on achieving particular and concrete outcomes—has become a new and important tool that financial sector regulators use to tackle large and varied financial system risks. Yet, objectives- based legislation—and the frequent principles-based regulation underpinned by such legislation—represents a stark departure from traditional ways of legislating. In this paper, we describe the problems and prospects of implementing objectives- based financial regulation—in the form of a Twin Peaks regulatory structure. A focus on the objectives of achieving financial market stability and proper market conduct would require a different approach to legislating and regulating in most other countries.-
dc.languageeng-
dc.publisherUniversity of Notre Dame. -
dc.relation.ispartofNotre Dame Journal of Legislation-
dc.titleDoes Objectives-Based Financial Regulation Imply A Rethink of Legislatively Mandated Economic Regfulation? A Literature Review-
dc.typeArticle-
dc.identifier.emailGoo, SH: shgoo@hku.hk-
dc.identifier.authorityGoo, SH=rp01248-
dc.identifier.hkuros320371-
dc.identifier.volume46-
dc.identifier.spage245-
dc.identifier.epage275-
dc.publisher.placeNotre Dame-

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