To see the other types of publications on this topic, follow the link: Financial regulatory system.
Journal articles on the topic 'Financial regulatory system'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 journal articles for your research on the topic 'Financial regulatory system.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse journal articles on a wide variety of disciplines and organise your bibliography correctly.
1
Metrick, Andrew, and June Rhee. "Regulatory Reform." Annual Review of Financial Economics 10, no. 1 (November 2018): 153–72. http://dx.doi.org/10.1146/annurev-financial-110217-022646.
Full textAbstract:
In the wake of the global financial crisis (GFC), many nations embarked on reform to the financial regulatory system. This reform, unprecedented in its scope, touched virtually every part of the financial system in the United States and Western Europe. This article summarizes the key reforms, explains how these reforms fit together, assesses the relevant scholarly literature, and suggests six significant areas of open questions for researchers. These six areas are ( a) liquidity rules, ( b) central clearing of swaps, ( c) shadow banking, ( d) lenders of last resort, ( e) extended guarantees, and ( f) resolution and restructuring.
2
Ho, Thomas, Miguel Palacios, and Hans Stoll. "Regulatory Principles for the Financial System." Journal of Derivatives 20, no. 1 (August 31, 2012): 19–37. http://dx.doi.org/10.3905/jod.2012.20.1.019.
Full text
3
Ross, Marc L. "Regulatory Principles for the Financial System." CFA Digest 42, no. 4 (November 2012): 75–76. http://dx.doi.org/10.2469/dig.v42.n4.74.
Full text
4
Kroszner, Randall S., and Philip E. Strahan. "Financial Regulatory Reform: Challenges Ahead." American Economic Review 101, no. 3 (May 1, 2011): 242–46. http://dx.doi.org/10.1257/aer.101.3.242.
Full textAbstract:
Today's financial system is dominated by markets with institutions connected by short-term financing, securitization, derivatives, and other means. Yet regulations have focused on depositories, leaving regulators unprepared for the 2008 crisis. We suggest two key principles for regulatory reform. First, some changes in the financial system came as institutions lowered the burden of regulations through “regulatory arbitrage.” Reform needs to avoid driving businesses “into the shadows,” where risks may accumulate and sow seeds of future crises. Second, reform ought to improve transparency to reduce uncertainty and inter-linkages between players. We evaluate some of Dodd-Frank Act in light of these principles.
5
Yu, Hao. "Research on the Construction of Financial Technology "Regulatory Sandbox" Testing Consumer Loss Compensation System." Frontiers in Humanities and Social Sciences 2, no. 8 (August 20, 2022): 76–86. http://dx.doi.org/10.54691/fhss.v2i8.1660.
Full textAbstract:
Fintech "regulatory sandbox" refers to a "trial and error" regulatory mode in which financial innovative products or services audited by financial regulators can conduct business tests in a real or simulated environment within a certain time and scope. After passing the test, they can be fully promoted to the financial market and included in the normal regulatory scope. Consumer protection is an important part of the design of the "regulatory sandbox". Perfect and appropriate consumer protection measures are conducive to enhancing the confidence of financial consumers, promoting the maximization of the effectiveness of the "regulatory sandbox", helping regulators collect fintech data and improve fintech regulation. Financial consumer protection should run through the pre event stage, in-process stage and post event stage of the "regulatory sandbox", that is, the compensation and compensation for the damage to consumers' rights and interests. In order to better protect the rights and interests of consumers and ensure financial efficiency and financial security, China should pay special attention to the construction of the "regulatory sandbox" test consumer loss compensation rules and systems in the construction of the "regulatory sandbox" legal system, and combine it with China's legislative practice, through the provisions of the obligation to inform consumers of their rights and risks in the test, the establishment of the sandbox test financial consumer protection special fund The establishment of financial consumer compensation insurance system and the establishment of a complete relief mechanism to effectively protect the right to test consumers' property security and the right to claim compensation according to law.
6
Hogan, Warren, and Ian G. Sharpe. "Financial System Reform: Regulatory Structure, Financial Safety, Systemic Stability and Competition Policy." Economic and Labour Relations Review 8, no. 2 (December 1997): 318–32. http://dx.doi.org/10.1177/103530469700800209.
Full textAbstract:
The paper provides an assessment of the recommendations of the Financial System Inquiry and the Government's reform proposals relating to the regulatory structure, financial safety and the mega-prudential regulator, systemic stability, and competition policy in the financial sector. It is argued that key reform proposals are based on explicit or implicit assumptions relating to the workings of financial markets and institutions. The Report fails to test those assumptions against contemporary and prospective circumstances to determine the practical worth of the recommendations.
7
Walter, Andrew. "From developmental to regulatory state? Japan's new financial regulatory system." Pacific Review 19, no. 4 (December 2006): 405–28. http://dx.doi.org/10.1080/09512740600984507.
Full text
8
Tikhonov, A. O., and I. V. Yuzefalchik. "Digitalization of the monetary-credit system: institutional and regulative aspects." Russian Journal of Economics and Law 15, no. 4 (December 16, 2021): 713–30. http://dx.doi.org/10.21202/2782-2923.2021.4.713-730.
Full textAbstract:
Objective: to consider the institutional and regulatory aspects of digitalization, to reveal the institutional features of the digital monetary-credit system, to classify the digitalization models, to describe the phenomenon of the central bank digital currencies, to consider the main trends in the regulation development, and to propose improvements in the monetary systems regulation.Methods: methods of systematization, classification, analysis and synthesis were used in the work.Results: it was shown that the monetary systems digitalization is characterized by signifi changes not only in the organizational and technological aspects, but also in the institutional and regulatory ones. They affect both the functioning features of the monetary system subjects and the methods of conducting operations, as well as the role and tasks of the financial regulators. It is marked that the monetary system long-term institutional development is characterized by the formation of a new digital investment and finance space, which is expressed in the change in the transaction costs structure, the formation of new institutional qualities of the monetary system, the emergence of new types of risks, the transformation of the existing and emergence of new players, due to the active introduction of digital financial technologies. The influence of digital transformation models on changes in the regulatory environment is analyzed, which implies a change in both approaches to regulating the activities of financial service providers and the role of regulators. The main models of monetary systems regulation are also analyzed.Scientific novelty: consists in identifying and systematizing the main institutional aspects of digital currencies development and determining the digital image of the financial and credit sector of the economy. As a result of the study, the main measures aimed at managing the process of monetary systems digitalization are formulated.Practical significance: the main proposals based on the study results can be used by financial regulators in the development of measures for the financial market development and the monetary system digitalization; systematization of regulatory models and digitalization models can be used by higher educational institutions to design the appropriate programs for retraining and advanced training of specialists in the field of finance.
9
Schmulow, Andrew, Karen Fairweather, and John Tarrant. "Restoring Confidence in Consumer Financial Protection Regulation in Australia: A Sisyphean Task?" Federal Law Review 47, no. 1 (February 1, 2019): 91–120. http://dx.doi.org/10.1177/0067205x18816240.
Full textAbstract:
Consumer financial protection and the integrity of the Australian financial system are critical to the Australian economy in many ways, including the provision of an effective banking system, and the security of Australia’s significant superannuation savings. This is especially the case in an environment where financial products have become more complex and difficult for consumers to understand. In recent years there have been several scandals in Australia’s financial sector that have undermined confidence in the financial system, and exposed regulatory failure. The authors argue that there needs to be a more effective oversight of the key regulators in the Australian financial system to maintain confidence in the system, and prevent capture of the regulators by the financial services industry. The authors contend that the recommendation of the Financial System Inquiry for the establishment of an Assessment Board to provide continuous oversight of the financial regulators is an effective solution to the poor regulatory outcomes encountered in Australia in recent years. The consequences of not having such oversight are likely to be more financial scandals, and further instability in the financial system. These deficiencies must be addressed as a matter of urgency.
10
Azarenkova, Galyna, Iryna Shkodina, Borys Samorodov, Maksym Babenko, and Iryna Onishchenko. "The influence of financial technologies on the global financial system stability." Investment Management and Financial Innovations 15, no. 4 (November 28, 2018): 229–38. http://dx.doi.org/10.21511/imfi.15(4).2018.19.
Full textAbstract:
The analysis of the financial technologies introduction has proved that their application over-complicates the institutional structure of the global financial system. As a result, usual functional relationships cease to operate, new institutes and interdependencies appear, and systemic risks increase. In this context, the system instability increases, resulting in a transition to a new institutional status. The analysis of the financial technologies impact on the stability of financial system shows that the lack of institutional support for new financial technologies is the most important catalyst for the financial industry destabilization and the formation of financial bubbles in various market segments.The ways to reduce the negative impact of financial technologies on the financial system stability (such as development of international prudential standards; revision of the licensing regime for financial companies; “regulatory sandboxes”, which test new technologies, business models and algorithms underlying the Fintech innovations; legal regulation of ownership of digital tokens; and clear definition of the blockchain technology in various areas of life, etc.) have been proposed.
11
Sathye, Suneeta, and Milind Sathye. "Wallis to Murray: refining Australia's financial regulatory system." International Journal of Public Policy 15, no. 5/6 (2020): 411. http://dx.doi.org/10.1504/ijpp.2020.113724.
Full text
12
Sathye, Milind, and Suneeta Sathye. "Wallis to Murray: refining Australia's financial regulatory system." International Journal of Public Policy 15, no. 5/6 (2020): 411. http://dx.doi.org/10.1504/ijpp.2020.10036319.
Full text
13
Ho, Thomas S. Y., Miguel Palacios, and Hans R. Stoll. "Dynamic Financial System: Complexity, Fragility and Regulatory Principles." Financial Markets, Institutions & Instruments 22, no. 1 (January 16, 2013): 1–42. http://dx.doi.org/10.1111/fmii.12002.
Full text
14
Sharma, A. K., and Ashutosh Vashishtha. "Dynamics and regulatory system of Indian financial markets." Journal of Financial Regulation and Compliance 15, no. 3 (July 31, 2007): 275–302. http://dx.doi.org/10.1108/13581980710762282.
Full text
15
Tsindeliani, Imeda A. "AXIOLOGICAL ASPECTS OF THE FINANCIAL LAW SYSTEM." RUDN Journal of Law 24, no. 1 (December 15, 2020): 82–97. http://dx.doi.org/10.22363/2313-2337-2020-24-1-82-97.
Full textAbstract:
Legal axiology, as a scientific discipline, allows us to consider both the legal system of the State as a whole, and its individual elements from the point of view of the value foundations that exist in society and in each individual. The consideration of the elements of the State's legal system through value categories allows us to determine the relationship and interdependence of all elements of the legal system. It is especially necessary to note the influence of value categories on the formation of a system of the separate branches of the law, including the financial law of Russia. Value categories have an influence not only on the formation of the elements of the financial law system, but also predetermine their interaction as legal means of regulation of the public finances. The elements of the financial law system, as a branch of law, are the principles of the financial law, the rules of the financial law, and their separate forms of grouping - institutions and sub-sectors of the financial law. The principles of the financial law are the direct legal regulators of public relations in the field of public finance by their nature. Possessing regulatory properties, the principles of the financial law shouldn’t be identified with the rules of the financial law, since they are independent legal means of the regulation. The principles of the financial law, on the basis of their regulatory properties, should be considered as elements of a system of the financial law.
16
Schmulow, Andrew. "Financial Regulatory Governance in South Africa: The Move Towards Twin Peaks." African Journal of International and Comparative Law 25, no. 3 (August 2017): 393–417. http://dx.doi.org/10.3366/ajicl.2017.0201.
Full textAbstract:
This article examines the implementation of the Twin Peaks model of financial system regulation in South Africa, the purpose of which is to create a financial system stability regulator, and a financial system consumer protection and market conduct regulator. It examines the historical development of Twin Peaks and its regulatory enforcement principles. It then analyses the similarities and differences between Twin Peaks in Australia (upon which the South African reforms are based) and South Africa. Finally the article provides concluding observations.
17
Kozarević, Emira, Nedžad Polić, and Amela Perić. "Financial system development progress in Western Balkans." Banks and Bank Systems 12, no. 2 (June 23, 2017): 7–19. http://dx.doi.org/10.21511/bbs.12(2).2017.01.
Full textAbstract:
Financial system supports economic growth, while its regulatory framework provides stability for investors. Develo-ping countries with bank-oriented financial systems are not attractive to investors, so prolonged status quo leads to economic deterioration. This is particularly the case with some of the most underdeveloped areas in Europe: Western Balkans. It is essential the developing countries in this region consider steps towards financial liberalization, which will help open the borders for capital flows and attract new investments. The main goal of this paper is to review and present the available information related to the banking system development in Western Balkans in terms of ownership structure, capital adequacy, loan and asset performance, return on investment and liquidity. These indicators should provide a clearer picture of the current financial systems in Western Balkans economies and their development progress – useful for comparison with other developing regions and financial transformation and liberalization efforts.
18
Savage, Lawrie. "From trial to triumph: How Canada’s past financial crises helped shape a superior regulatory system." Journal of Governance and Regulation 4, no. 4 (2015): 213–48. http://dx.doi.org/10.22495/jgr_v4_i4_c1_p8.
Full textAbstract:
As anyone paying attention during the 2008–2009 financial crisis is aware, the Canadian financial system weathered the storm uniquely well. Exactly why Canada’s system remained so comparatively stable, while so many other foreign systems broke down, is a question that remains largely unsettled. One explanation may be that the regulatory system that emerged from a very specific history of prior crises had both prepared Canada well for such a crisis, and responded effectively as the crisis unfolded. But the very regulatory system that provided stability in recent years may also be at risk of becoming warped by its own success, with regulators so emboldened by the acclaim for their recent achievements that they overreach to ensure their track record remains unblemished in the future. The stunning collapse of a pair of western Canadian banks, a number of major Canadian trust companies and several insurance companies, as well as some other precarious near misses in the 1980s and 1990s, were a shock to the financial regulatory system, highlighting deficiencies that would be addressed with new regulations and, most notably, the creation of the Office of the Superintendent of Financial Institutions (OSFI). Canada’s centralized regulatory approach, through the OSFI and just four other major regulatory bodies, has proved both more elegant and effective than, for instance, the more complicated, more convoluted and more decentralized American financial-oversight system. But some regulated companies, insurers in particular, have long maintained that the concentration of power in Canada’s large banks has resulted in a one-size-fits-all regulatory approach that does not offer a relatively lighter burden for smaller institutions, potentially stifling growth. In other words, an over-emphasis on stability may be hampering market efficiency. Nor is there any economic evidence to shed light on whether those and other costs of regulating stability are justified by the costs spared by avoiding instability. Received wisdom would naturally assume that avoiding certain institutional collapses are worth any cost, but of course there must be some limits to that logic. To be clear, Canada’s regulatory model almost certainly appears to be a better-functioning one than that of many in its peer group, and the OSFI approach is gaining acceptance by many countries, particularly in emerging markets that are implementing cohesive regulatory systems for the first time, using the Canadian framework as a template. This does not, however, mean that Canada’s regulatory system cannot still be refined and improved. Suggestions for improvement include: the possibility of creating an industry-based collaboration committee — similar to the regulators’ Financial Institutions Supervisory Committee — that would monitor industry risk over time; the modernization of the Winding-up and Restructuring Act, conceived more than a century ago, to address the modern reality of immense and complex institutions of today, providing regulators the flexibility to resolve such entities when they become troubled; and the strengthening of board structures for large institutions, which remain much as they were in the 1980s, including the possibility of appointing permanent, full-time, independent directors and requirements for boards to better train directors and utilize outside expertise when warranted. Canada’s regulatory system is arguably one of the most effective in existence, but its success through the recent financial crisis is no guarantee that it will be sufficiently prepared for the next
19
Thakkar, Hiteshkumar. "Evolution of micro-prudential regulators and macro-prudential regulators in the global financial regulatory system." International Journal of Public Policy 14, no. 5/6 (2018): 408. http://dx.doi.org/10.1504/ijpp.2018.096672.
Full text
20
Thakkar, Hiteshkumar. "Evolution of micro-prudential regulators and macro-prudential regulators in the global financial regulatory system." International Journal of Public Policy 14, no. 5/6 (2018): 408. http://dx.doi.org/10.1504/ijpp.2018.10017940.
Full text
21
Ferreira, Aracéli C. S., André L. Bufoni, Jazmin F. de La Cueva, Vinícius M. Maia, Dilo Vianna, and uliana M. Queiroz. "Assessing the Brazilian Electric Sector’s Financial Monitoring Milestone." International Journal of Trade, Economics and Finance 12, no. 2 (April 2021): 48–53. http://dx.doi.org/10.18178/ijtef.2021.12.2.692.
Full textAbstract:
The Brazilian energy sector adopted a new regulation system in 2015 due to a system collapse threat. The system was changed to contractually incorporate firms’ economic-financial monitoring. This paper aims to assess the progress of this monitoring model toward achieving its goals. Thus, we proceed with a triangulation with three analyses. First, we analyse the literature to indicate if the economic-financial monitoring shows a hybrid form of adoption as suggested by the literature as the most suitable towards achieving regulatory goals. Second, we verify the perception of the economic-financial monitoring efficiency by the regulatory agency. Third, we evaluate the behaviour of some financial indicators before and after the new regulation. Our results show that, first, the economic-financial monitoring adopts a hybrid form which may drives better monitoring. Second, the perception of the regulator regarding efficiency of the financial monitoring model is favourable. Third, our results show that the sector leverage and profitability variances were significantly reduced after the implementation of financial monitoring which indicates less Asymmetric Information and consequently, better monitoring. In general, our results indicate some uncertainty reduction and more uniform behaviour of the entire sector after adopting an economic-financial monitoring system.
22
Swamy, Vighneswara. "Analyzing the topography of financial regulation." Journal of Financial Economic Policy 9, no. 4 (November 6, 2017): 475–515. http://dx.doi.org/10.1108/jfep-06-2017-0058.
Full textAbstract:
Purpose This paper aims to assess the topography of financial regulation, supervisory styles and performance of banking systems across the world. Design/methodology/approach The author gains insights by comparing regulatory and supervisory practices and their impact on banking system performance before and after the global crisis. The study illustrates the differences in regulation/supervision among crisis, non-crisis and BRICS countries. Even as capital ratios increased, bank governance and supervision regimes were strengthened, the private sector incentives to monitor banks deteriorated. Findings The results show that the crisis-countries had weaker regulatory and supervisory frameworks than those in emerging countries during the crisis period. BRICS countries as a distinct block have demonstrated uniqueness in their regulatory/supervisory styles that are similar neither to those in the crisis-countries nor to those in the non-crisis countries. Originality/value The originality of this study lies in its unique approach to assessing the bank regulation and supervision styles around the world and their impact on banking system profitability, as it uses a robust database. Further, this study provides not only a general assessment but also a comparative analysis of the BRICS and emerging economies. Regulatory agencies around the world would greatly benefit from systematic evidence on the relationship between bank performance and regulatory/supervisory systems.
23
Goettenauer, Carlos. "The Brazilian Financial System, Cyber Security Policy and Personal Data Protection." Law, State and Telecommunications Review 12, no. 2 (October 12, 2020): 172–86. http://dx.doi.org/10.26512/lstr.v12i2.34716.
Full textAbstract:
Purpose ”“ This work intends to map and analyze, through the polycentric regulation proposal introduced by Julia Black, the contribution of the actors involved in the creation of the data protection regulatory legal regime in financial system, after the introduction of the cyber security policy by the Central Bank of Brazil, the approval of the General Data Protection State and new financial business models.
Methodology ”“ It first analyses the regulatory and statutory norms associated with data protection in the financial system, combined with the cyber security policies published by financial institutions. After this, it identifies the actors who contribute to the regulatory environment and their respective regulatory role. The final step is the creation of a table to categorize each actor’s functions in the regulatory regime.
Findings ”“ The research concludes that the contracts between financial institutions and technology play a major role on creating and hybrid regulatory environment for data protection.
Originality ”“ The work is an original analysis of the data protection regulatory legal regime in financial system, using polycentric regulation not only as a theoretical reference, but also as a methodological framework.
24
Szpringer, Mariusz, and Włodzimierz Szpringer. "The European system of financial supervision – regulatory impact assessment." Journal of Banking and Financial Economics 2/2017, no. 8 (September 22, 2017): 84–104. http://dx.doi.org/10.7172/2353-6845.jbfe.2017.2.4.
Full text
25
Oldani, Chiara. "Global financial regulatory reforms and sovereign’s exemption." Journal of Financial Regulation and Compliance 26, no. 2 (May 14, 2018): 190–202. http://dx.doi.org/10.1108/jfrc-11-2016-0105.
Full textAbstract:
Purpose The purpose of this paper is to underline the (hidden) risks posed after the crisis by the exemption of non-financial operators, especially sovereigns, from the regulatory reforms of over the counter (OTC) derivatives undertaken by G20 countries in the absence of accounting data on trading. Design/methodology/approach Recent financial regulatory improvements are reported to underline that the trading of OTC derivatives by sovereigns and local administrations does not take place under the new regulatory umbrella, because of the relative size of the institution, the lack of incentives to adhere to Centralized Counterparty Systems (CCPs) and most of all, the absence of proper accounting rules. Sovereigns and local administrations have the potential to undermine global financial stability. Findings The limited availability of accounting data on derivatives’ use by public administrations constitutes a barrier towards a full comprehension of risks involved. Sovereigns should be compelled to adhere to the CCPs and the collateralized system of trading; the short-term costs of adhering to CCPs are worth $20bn. Research limitations/implications The new regulatory system failed to explicitly consider the trading of sovereigns and this can reduce the effectiveness of regulation itself and can have negative impact on financial stability; in fact, omitting sovereigns from these regulations represent a significant risk oversight because they are systemically important players, although with a special political power. Originality/value Despite progress made in improving the transparency and resilience of OTC derivative markets after the subprime crisis, sovereigns and public administrations are exempted from the new regulation, posing severe risks to financial stability.
26
Usoskin, V. M. "Shadow banking: Regulatory Reform and Its Effectiveness." Finance: Theory and Practice 23, no. 4 (August 22, 2019): 69–79. http://dx.doi.org/10.26794/2587-5671-2019-23-4-69-79.
Full textAbstract:
Over the past three decades, a large group of non-bank financial institutions has been formed in the world economy. These institutions fall outside the realm of traditional banking and take an active part in the lending processes of economic turnover entities. The activities of these institutions, called the shadow banking system (SBS), led to an increase in systemic risks and had a negative impact on the state of the global financial system. This was distinctly displayed during the global financial crisis of 2007–2009. The subject of this article is a series of measures taken by the international and national financial control bodies after the financial crisis to eliminate most risky aspects of shadow banking and to strengthen the system of financial oversight and monitoring. The final aim of the analysis is to evaluate effectiveness of the measures on strengthening control and limiting risks applied by the control bodies of the G-20 countries in the course of the reform to enterprises of the traditional and shadow sectors of the financial system. The results of the analysis show that the reform strengthened positions of traditional banks and improved their ability to resist financial shocks. As to the shadow banking sector, contrary to the statements of the initiators of the reform the regulative measures did not eliminate the systemic risks peculiar to nonbank financial institutions and did not stop their growing activities. This situation threatens the stability of the global financial system and a possibility of a new financial slump retains.
27
Yeoh, Peter. "Innovations in Financial Services: Regulatory Implications." Business Law Review 37, Issue 5 (October 1, 2016): 190–96. http://dx.doi.org/10.54648/bula2016035.
Full textAbstract:
Innovations in the financial services sector have been going on for a very long time. They gained tremendous momentum subsequent to the 2007 global financial crisis (GFC) because of accessibility difficulties, general distrust of the formal banking system, and phenomenal advances in digital and related technologies. Enhanced applications of technology in the sector with minimum regulatory constraints are now attracting regulatory attention because of perceived risks and the need to balance the interests of different market players who are subjected to different compliance costs and different business model freedoms. This article examines critically the regulatory implications of these developments with focus on the situations in the United Kingdom and the United States.
28
Łasak, Piotr, and Sławomir Wyciślak. "Dynamics in Complex Systems Amidst Crisis 2008+: Financial Regulatory and Supervisory Reflections." Risks 10, no. 2 (February 2, 2022): 33. http://dx.doi.org/10.3390/risks10020033.
Full textAbstract:
Every financial crisis triggers some regulatory and supervisory changes related to the ensuing threats. These regulations usually address specific types of risks and reduce them but do not protect the entire system from another crisis. The aim of this study was to develop a conceptual framework of financial system resilience based on the theoretical approach of complex system theory and its explanation of these systems’ self-adaptation. Our analysis embraces the time since the 2008+ financial crisis in the United States. We argue that the digitalization of financial markets may contribute to the greater safety of the banking sector. We adopted blockchain technology for the pattern of self-modification mechanisms of the financial system. The main findings highlight that the blockchain technology incorporated into the system approach and applied to financial regulation and supervision can significantly improve the safety of the financial markets.
29
Coen, David, and John-Paul Salter. "Multilevel regulatory governance: Establishing bank-regulator relationships at the European Banking Authority." Business and Politics 22, no. 1 (October 10, 2019): 113–34. http://dx.doi.org/10.1017/bap.2019.21.
Full textAbstract:
AbstractFollowing the 2007–9 financial crisis, the EU strengthened its institutional apparatus for bank regulation, creating a trio of sectoral bodies, including the European Banking Authority (EBA). Various aspects of this new system have been studied, but to date, little is known about how banks engage with their new supranational regulator. We argue that such engagement fosters an interdependence between banks and regulators, thus contributing to the efficiency and robustness of the overall regulatory regime; but also that it is contingent on the regulator exhibiting the qualities of credibility, legitimacy, and transparency. These qualities are grounded in the domestic regulatory governance literature, but we suggest that they are rendered problematic by the complexities of the EU's multilevel system and, in particular, the overlap in competences between the EBA and the European Central Bank. We examine the EBA in the light of these criteria and find that banks’ engagement remains pitched towards established national regulators and the EU's legislative arena. This poses concerns for the efficacy of agency governance in the EU's regulatory regime for banking.
30
Gorian, Ella. "The Role of the Financial Regulator of Thailand in Ensuring the Information Security of the Financial and Banking Sector." Национальная безопасность / nota bene, no. 5 (May 2022): 80–90. http://dx.doi.org/10.7256/2454-0668.2022.5.39079.
Full textAbstract:
The object of the study is the relations arising during the functioning of the national legal mechanism for ensuring cybersecurity. The subject of the study is presented by regulatory legal acts and sources of "soft law" of Thailand, which establish requirements for information systems of the financial and banking sector. Using the example of the second economy in Southeast Asia - Thailand, the role of the financial regulator of the state – the Bank of Thailand (Bank of Thailand, BOT) in ensuring cybersecurity of the financial and banking sectors is described. The features of the legal status of the Bank of Thailand, determining the coordinating role in the institutional mechanism for ensuring cybersecurity, are highlighted. The key documents of the financial regulator that form the regulatory mechanism for ensuring cybersecurity in Thailand are examined. The powers of the financial regulator of Thailand are distributed among three bodies. The Bank of Thailand controls commercial banks, financial companies, credit institutions, asset management companies, electronic payment services and credit card companies. The Securities and Exchange Commission oversees securities transactions, while the Insurance Commission oversees the activities of insurance companies. Ensuring information security is entrusted to the Bank of Thailand, which is authorized to create a risk management system for financial institutions in order to ensure their stability. To this end, it adopts regulations that establish security standards for three types of information systems: general, serving electronic payments and serving electronic payment cards. Noteworthy is the requirement for information system operators, when concluding a service agreement, to determine the rights of internal and external auditors, as well as an official of the Bank of Thailand to verify transactions and control the service provider. The financial regulator determines the status of service providers of particularly important payment systems, charging them with the obligation to develop security measures for information systems, depending on the types and complexity of their own services.
31
Jones, Emily, and Alexandra O. Zeitz. "Regulatory Convergence in the Financial Periphery: How Interdependence Shapes Regulators’ Decisions." International Studies Quarterly 63, no. 4 (August 27, 2019): 908–22. http://dx.doi.org/10.1093/isq/sqz068.
Full textAbstract:
Abstract We examine the processes by which regulations prevailing in countries at the core of the global economy spread to countries outside this small group. We show how specific cross-border relationships between banks, regulators, and investors generate regulatory interdependence that drives the diffusion of international standards from the standard-setting countries at the core of the financial system to the financial periphery. We argue that regulatory decisions in the financial periphery are shaped by the prior choices of regulators in other countries, mediated through four specific cross-border relationships associated with banking globalization. We draw on a new dataset of Basel II adoption in over ninety jurisdictions in the financial periphery. Using spatial lag models we show that regulators’ decisions over the adoption of international standards are shaped by the choices of regulators to whom they are connected through the cross-border operations of individual banks, international professional networks, and competition for capital. Our analysis underscores the value of parsing out the relevant actor-level linkages that connect countries: while international considerations shape regulatory decisions, what matters is not the extent to which countries are connected to the global economy but rather the nature of these connections.
32
Mansour AlSibai, Abd Allghani Ali. "Basel III's New Precautionary Measures are Adapted to the Regulatory and Regulatory Requirements of Islamic Banks and Banks to Reduce Risk." Iraqi Administrative Sciences Journal 1, no. 2 (June 30, 2017): 609–49. http://dx.doi.org/10.33013/iqasj.v1n2y2017.pp609-649.
Full textAbstract:
The Islamic financial services industry has grown significantly over the last two decades to the point that it is today an important player in the international financial system. The absence of regulation, regulation and control of these financial services, especially after the shocks caused by the recent financial crises, has become a great risk, and this is because of the nature of deposits in the Islamic financial system and ways of financing. For this reason, it became imperative to know whether traditional standards or so-called protective precautionary regimes could protect and ensure the stability of international financial systems. As Islamic banks have become the largest share of the Islamic financial industry, it is necessary to study how Islamic banks operate to what extent they can apply new prudential standards. The main objective of this research study falls within one of the most important steps to develop and modernize the Islamic banking system to become more competitive in an environment that requires transparency and requires integration and integration with international financial markets. In order to raise the level of its activities and away from investment risks or reduce them .. Which requires to achieve this goal to study the effects and the possibility of applying new standards of precautionary Islamic banks, in particular: "the impact of Basel III."
33
Botha, Erika, and Daniel Makina. "Financial Regulation And Supervision: Theory And Practice In South Africa." International Business & Economics Research Journal (IBER) 10, no. 11 (October 27, 2011): 27. http://dx.doi.org/10.19030/iber.v10i11.6402.
Full textAbstract:
This paper discusses the theory of financial regulation and practices in countries and South Africa in particular. One of the causes of the global financial crisis (2007-2009) often cited is inadequate or improper regulation and supervision of the financial sector. The global financial crisis revealed inadequacies of extant regulatory systems which arguably had not kept pace with financial innovation. Consequently, all major economies are reforming their regulatory systems in the aftermath. In the UK the Financial Services Authority (FSA) has devised a set of banking regulation while the USA enacted the Dodd-Frank Act to revamp the regulation of financial services. Historically, financial regulation and supervision has been premised on the silo (institutional) approach whereby institutions are regulated according to functional lines. However, in the past two decades many countries in advanced economies adopted a consolidated approach in response to the emergence of financial conglomerates whose regulation could not be adequately handled by the traditional silo approach. South Africa, a middle-income developing country, has had a regulatory and supervisory system that has been driven by the market and international trends. Having started as a institutional approach, it metamorphosed into a functional approach in the late 1980s. Since the 1990s the South African regulatory and supervisory system has had at its heart the central bank regulating the banking sector and a multi-sector regulatory approach for other non-banking financial services. Though the financial sector was largely unscathed by the global financial crisis, South Africa has also moved to reform its regulatory system to embrace the twin peak model in line with trends in related countries.
34
Podrugina, Anastasia, and Anton Tabakh. "Financial Markets: From the “Tragedy of Commons” to Balanced Regulation." International Organisations Research Journal 15, no. 2 (June 1, 2020): 173–90. http://dx.doi.org/10.17323/19967845-2020-02-08.
Full textAbstract:
Nowadays the global financial system faces a triple challenge: the threat of a new systemic financial crisis at both global and regional levels; difficulties of constant adaptation of existing financial business and regulatory practices to intensive technological innovations; direct and hidden consequences of excessive political influence on the financial system through sanctions and selectively applied practices for sanction purposes. Improving the quality of financial regulation will require deeper cooperation between regulators of leading economies and a proactive position of the financial industry, as well as the decentralization of financial regulation. However, it is unlikely that this will happen at the global level. Financial stability became a key goal of global financial regulation in the post-crisis period. We consider financial stability as the «tragedy of commons». The article describes the main trends of financial markets regulation after the crisis: transformation of global financial architecture, anti-money laundering and counter-terrorism financing practices (AML/ CT), financial sanctions. The article analyzes the existing failures of modern post-crisis financial regulation: credit crunch, reduction in the effectiveness of monetary policy, regulatory arbitrage, and increased compliance costs (AML/CT legislation, tax legislation, and the sanctions regime). In the future we expect simultaneous trends of harmonization and standardization of requirements in traditional sectors of financial markets (including traditional institutions of the shadow banking sector), but at the same time regulatory arbitrage1 will induce new financial technologies in order to reduce regulatory costs. The crisis triggered by the coronavirus pandemic in 2020 despite its non-financial nature will almost inevitably have a major impact on financial markets and their regulation. Possible steps to eliminate failures in the financial regulation system are proposed, including recommendations for international organizations.
35
Zhang, Chi. "Towards a Collective Regulatory System of Private Equity Funds in China: Legislative Progress and Political Challenges." European Business Law Review 30, Issue 1 (February 1, 2019): 183–97. http://dx.doi.org/10.54648/eulr2019007.
Full textAbstract:
Private equity investment funds have been playing an increasingly significant role in the Chinese economy. Owing to the fragmented financial regulatory regime of the country, however, both the official supervision and self-regulation of private equity funds in China are still problematic, which has increased the potential risk in the market. This article investigates the political logic of the ongoing legislative and regulatory reform of private equity funds in China. It also explores a proposal for the legal reform of the Chinese private equity industry with reference to the experience of the United Kingdom and the European Union. It is suggested that a unified financial regulatory system as a fundamental institutional arrangement is a pre-requisite for establishing an effective and efficient regulatory regime for private equity funds in China. This can only be achieved when the political conflict between different regulators in the Chinese bureaucratic system is removed.
36
Kleftouri, Nikoletta. "Meeting the rationale of deposit protection system." Journal of Financial Regulation and Compliance 22, no. 4 (November 4, 2014): 300–317. http://dx.doi.org/10.1108/jfrc-03-2013-0009.
Full textAbstract:
Purpose – The purpose of this paper is to explore the full potential of an effective deposit insurance system. The current financial crisis in Europe has arguably casted fresh doubt on the role and need for deposit insurance. In this regard, the deposit insurance system’s rationale is a key starting issue in order to fully understand its design and role within a financial safety net system. Design/methodology/approach – Using the UK regulatory regime as the main reference point, the deposit insurance system’s objectives are divided into two broad categories: depositor protection and financial stability. Findings – It is argued that a deposit insurance system could only be effective if designed to perform key regulatory objectives. Otherwise, authorities will keep resorting to other rescue measures, as this system will never be well equipped to respond to a bank failure. Practical implications – Notwithstanding recent regulatory reforms, there is still a lack of clear objectives and, thus, a clear profile for the Financial Services Compensation Scheme, as the UK deposit compensation scheme. In light of systemic risk and increased demands on prudential banking regulation, the UK deposit insurance system should be reformed to perform significant regulatory objectives. Social implications – The further reform of the UK deposit insurance will enhance depositor protection and financial stability, especially amid the euro-crisis. Originality/value – An effective reform of deposit insurance requires a clear role-setting for deposit insurance. To this end, this paper offers a comprehensive analysis of all regulatory objectives that the post-crisis UK deposit insurance system should serve.
37
Kasyanov, R. A. "EUROPEAN EXPERIENCE OF FINANCIAL MARKETS REGULATION AND OPPORTUNITIES FOR ITS APPLICATION IN RUSSIA." MGIMO Review of International Relations, no. 4(31) (August 28, 2013): 267–74. http://dx.doi.org/10.24833/2071-8160-2013-4-31-267-274.
Full textAbstract:
Large-scale improvement is in store for the European financial regulators. Reforms are being carried out at the supranational level of the European Union whereas the national legislation of the EU member-states is being refined. Similarly, the system of financial regulation in the Russian Federation is about to change prompting creation of a mega-regulator for the financial market on the basis of the RF Central Bank to be launched in August of 2013 with the regulation and supervision shared by the RF Ministry of Finance and Central Bank respectively. As a result, the current regulator, Federal Financial Markets Service, will be abolished with its staff to be employed by the Central Bank. Whether the initiative will be successful depends on a number of factors, among them appropriate application of existing regulation models taking into account the following aspects: participation/non-participation of the market and professional community in the regulation; the subject and the field of regulation. Scrutiny of the European regulators active at the level of the European Union, as well as the national experience of the financial regulators of Luxemburg and Belgium gives a better insight into the prospects of the regulatory reform that is supposed to make the future system intelligible, lucid and self-sufficient, which should be reflected in the underlying legislation.
38
Lee, Tae Young. "Comparative Legal Review on the Regulatory System of Financial Cooperatives." Sogang Journal of Law and Business 12, no. 2 (August 31, 2022): 67–111. http://dx.doi.org/10.35505/sjlb.2022.8.12.2.67.
Full text
39
Unda, Luisa Ana, and Julie Margret. "Transformation of the Ecuadorian financial system: regulation and response." Journal of Financial Regulation and Compliance 23, no. 1 (February 9, 2015): 84–102. http://dx.doi.org/10.1108/jfrc-02-2014-0016.
Full textAbstract:
Purpose – The aim of this study is to analyse the transformation of the Ecuadorian financial system using the regulatory dialectic approach (Kane, 1977). This research examines the initial conditions and motivating factors of the reform process, as well as the interplay between government and bankers during the period 2007-2012. Design/methodology/approach – Kane’s regulatory dialectic suggests that regulation of financial institutions is a series of cyclical interactions between opposing political and economic forces. Three main stages are identified: thesis (measures and regulatory actions), antithesis (avoidance/lobby against those reforms) and synthesis (adaptive reregulation resulting from the interaction between interest groups). Findings – Since 2007, the government focused on regulating interest rates, developing a liquidity fund for banking emergencies, increasing taxation and restricting international capital flows. These government initiatives took place against a background of conflicting interests. Private bankers opposed the majority regarding them as burdensome new rules, rather than enlightened reforms. Publicly, these reforms as intended by the government were seemingly supported. Finally through the political process, they were approved. To date, these reforms have strengthened the financial system, produced encouraging social policy results and placed the financial sector to serve the government’s development strategy. Originality/value – Using Kane’s notion of regulatory dialectic, we explain the process of financial reform in Ecuador as part of a cyclical interaction between opposing forces. Drawing on this framework enabled insight into the nature of government intervention. Hence, we show how that intervention affected the growth, development and structure of the banking system.
40
Druzhilovskaya, T. Y. "Financial Instruments accounting: innovations, problems, solutions." Buhuchet v zdravoohranenii (Accounting in Healthcare), no. 7 (July 25, 2022): 14–22. http://dx.doi.org/10.33920/med-17-2207-02.
Full textAbstract:
Recently, the importance of such objects as financial instruments has increased in the activities of Russian organizations of various forms of ownership and various industries (including healthcare). This necessitates a realistic accounting of these objects. In turn, for the implementation of realistic accounting, carefully developed rules are required, which are laid down in regulatory documents on accounting. In the system of international financial reporting standards (IFRS) there are a number of standards containing regulations for the accounting of financial instruments. Despite the fact that the Russian system of accounting standards (RAS) has long been in the process of being reformed based on international standards, the area of accounting for financial instruments is still not sufficiently regulated. At the same time, the program for the development of Russian federal accounting standards (FSBU) involves a number of changes in existing regulatory accounting documents, as well as the creation of new accounting standards. In this regard, it is of interest to analyze the FSBU Project “Financial Instruments” presented for discussion, developed by the Accounting Development Fund “National Non-State Accounting Regulator “Accounting Methodological Center” (Foundation “NRBU “BMC”). The study of the regulations of this FSBU “Financial Instruments” Project is carried out in this article. The research methods were comparison, analysis, synthesis, grouping method, systemic and logical approaches. As a result of the study, the article substantiates the positive aspects of the FSBU “Financial Instruments” Project, identifies some of its shortcomings, substantiates the value of this regulatory document for realizing the goal of reliable accounting of financial instruments.
41
Vasilca, Miruna M., George Anton, Alexandra Cheptiş, and Alin I. Vid. "MIFID II and EMIR impact on Romanian banking system performance." Proceedings of the International Conference on Business Excellence 16, no. 1 (August 1, 2022): 732–49. http://dx.doi.org/10.2478/picbe-2022-0069.
Full textAbstract:
Abstract MIFID II/MiFIR represents comprehensive financial market reforms in trading and settlement of financial instruments. The greatest impact of the new regulatory framework in the banking sector relates to pricing, trading, and reporting of banking products and classification of financial institutions. The new role of the financial market infrastructure provides more protection for bank customers and significantly increases market transparency. Banks are required to show their customers the best execution price on the relevant trading venues, transaction costs and market behavior. The regulation will be aligned with other financial market regulations of over-the-counter markets and market abuse protection to avoid regulatory overlap - European Market Infrastructure Regulation (EMIR). The new regulatory framework requires the banking sector to fully comply with the rules governing the banking system of the European Union. Banks must incur significant costs in order to restructure internal processes, acquire new technological support, and forego additional profits in competitive and transparent markets. This study analyses the impact of MiFID II/MiFIR and EMIR implementation on local banks’ performance (credit institutions, Romanian legal persons). Using a unique dataset from banks that have been operating in Romania over the period 2004-2020, it is shown that the implementation of the new regulatory framework did not affect the net trading income ratio of the selected banks. Moreover, the average trading asset ratio in the post-financial crisis period increased in comparison with the average trading asset ratio in the pre-financial crisis period. Local banks that took advantage of the large economies of scale obtained due to branch banking did not reduce their investment banking activities and product offerings to customers in the period following the introduction of the regulatory framework. Most of the costs of implementing the new regulatory framework were borne only by the ultimate parents of the controlled Romanian subsidiaries. All subsidiary banks benefited equally from these economies of scale.
42
ISKAKOVA, Zagira, Galina KUPALOVA, Gulnara SRAILOVA, Altyn AMERKHANOVA, and Ruslana ISCHANOVA. "Conditions and Criteria for Sustainable Development of the Financial System." Journal of Environmental Management and Tourism 10, no. 5 (November 10, 2019): 1168. http://dx.doi.org/10.14505//jemt.v10.5(37).24.
Full textAbstract:
Strategic management of the financial system of the Republic of Kazakhstan in the context of the globalization of the economy is one of the main conditions and factors for ensuring financial stability in the country. The implementation of supervisory powers in the financial sphere is carried out in each country in the institutional forms established by law. The choice of a specific method of regulating organization is determined by the set of factors characteristic for each country. The forms of implementation of regulatory functions in each particular country do not remain unchanged, they are constantly being improved.
The creation of a separate regulatory body to oversee all participants of the financial market in the Republic of Kazakhstan is an important step in the development of the regulation of the financial system of the Republic of Kazakhstan. World practice shows that such a regulatory framework is most effective for the development of the financial sector, financial instruments and financial intermediation services. The banking activities of insurance companies, pension funds and other financial institutions are subject to regulation by the state and must comply with the requirements of the law, which contributes to the stability of the financial system. Some insolvency or imperfection of management of the financial system, insecurity from external and internal risks were shown by financial institutions of the state in the conditions of the world economic and financial crisis. The crisis showed that the existing system of managing the financial system of states around the world needs to be improved.
43
Adrian, Tobias, John Kiff, and Hyun Song Shin. "Liquidity, Leverage, and Regulation 10 Years After the Global Financial Crisis." Annual Review of Financial Economics 10, no. 1 (November 2018): 1–24. http://dx.doi.org/10.1146/annurev-financial-110217-023113.
Full textAbstract:
The financial system has undergone far-reaching changes since the global financial crisis of 2008. We cast those changes in terms of shifts in the manner in which financial intermediaries manage their balance sheets. We also discuss the regulatory reform agenda, and we review the impact of regulations on market liquidity and credit availability. Current evidence suggests that the financial system has become safer, at limited unintended cost.
44
Blahun, Semen. "FINANCIAL INNOVATIONS AS AN ELEMENT OF THE FINANCIAL SYSTEM." HERALD OF KHMELNYTSKYI NATIONAL UNIVERSITY 300, no. 6 Part 2 (December 2021): 152–57. http://dx.doi.org/10.31891/2307-5740-2021-300-6/2-25.
Full textAbstract:
The financial sector, which is an important part of the country’s economy, needs changes that will allow it to properly perform its tasks for a long time to come. Innovation and competitiveness should characterize both the financial sector as a whole and individual enterprises and institutions within it. Therefore, the question of the general impact of innovation on growth processes in a competitive economy, the division of innovation into products and processes of the linear sector, the dependence of this component on technical and organizational steps taking place throughout the economy. Thus, a number of applied studies have given rise to a new economic theory, which due to the spread will have a significant impact on the functioning of the monetary system and macroeconomic policy. In addition, financial innovation is an important element that causes a modification of the form of financial systems, and hence the conditions and potential for the functioning of financial and real actors. They affect, in particular, the general opportunities for economic development of the country, the cost of financing the activities of entities, types and amounts of economic risk that arise in socio-economic systems. The consequences can be both positive and negative, which obviously leads to discussions about the reaction of market regulators to the fact of the above and its application. The article analyzes the impact of innovations on growth processes in the economy. The author structured innovations of products and processes, investigated the consequences of such a classification for the linear sector of the economy. The impact of international agreements (Basel 1, Basel 2, Basel 3) on the security of the banking system was shown in the article. The banking of the payment system, as well as the impact of ATMs and Internet transactions on banking activities were considered in the article. Financial innovations reflect every change in existing financial products, changes in a number of financial intermediaries, their types and business models, transformations in financial markets and in the relationship between entities. The basic component of such modifications is regulatory and supervisory systems, which ensure their functioning. Despite computerization, the essence of modern banking has not been changed for many years. However, it is hard to deny that information technology has evolved significantly in recent decades. Information technology and automation have changed the methods of organization of production, design, research, medical research, administration in almost every sphere of life. In addition, information and telecommunication technologies (ITT) have created a new section of technologies for the modern use of GPT, which, of course, affect the situation in the financial sector.
45
Li, Yaling. "Research on Internet Financial Regulatory Innovation in China." E3S Web of Conferences 275 (2021): 01037. http://dx.doi.org/10.1051/e3sconf/202127501037.
Full textAbstract:
As an emerging form of financial innovation, Internet finance will inevitably break through the boundary of traditional finance in the process of innovation. Therefore, how to adapt the supervision to the characteristics of Internet finance and how to balance the innovation and supervision of Internet finance have presented a new issue to the regulatory authorities. Based on the connotation and characteristics of Internet finance, this paper analyzes the current development status of Internet finance in China, and analyzes the problems of Internet finance industry, such as imperfect laws and regulations, chaotic financial supervision institutions, loss of supervision technology and talent, and information disclosure. Finally, from three aspects of supervision legal system, this paper puts forward a series of moderate and effective supervision suggestions on the supervision system and internal supervision mechanism of Internet finance, so as to promote the stable development of the Internet.
46
Fu, Hao, Yue Liu, Pengfei Cheng, and Sijie Cheng. "Evolutionary Game Analysis on Innovation Behavior of Digital Financial Enterprises under the Dynamic Reward and Punishment Mechanism of Government." Sustainability 14, no. 19 (October 2, 2022): 12561. http://dx.doi.org/10.3390/su141912561.
Full textAbstract:
Digital financial innovation is a new impetus for economic and social development. However, lack of regulation will also have a huge impact on economic and social development. In this paper, an evolutionary game model of digital finance innovation is constructed, the evolutionary strategies of both sides of the game are discussed, and a simulation analysis is carried out, based on the dynamic reward and punishment mechanism of the government. The results show that the system can achieve evolutionary stability under the dynamic reward and punishment mechanism, and that the evolutionarily stable strategy is unique. We also find that when the punishment of regulators increases, the probability of compliance innovation of digital financial enterprises will increase, and the probability of active supervision of regulatory agencies will decrease. When regulators increase incentives, the probability of the compliance innovation of digital financial enterprises will decrease. Similarly, the probability of active supervision by regulators will also decrease and the decrease will be more obvious. To achieve the win-win development of digital financial innovation and regulation, it is necessary to continuously improve the regulatory capacity and level, reduce regulatory costs, and build a dynamic reward and punishment mechanism. Our research contributes to enhancing compliance innovation in digital financial enterprises.
47
Novak, Oksana, Oleksandr Melnychenko, and Oksana Oliinyk. "Improving the regulation of the derivatives market as an objective prerequisite for sustainable development of the global financial system." E3S Web of Conferences 307 (2021): 02002. http://dx.doi.org/10.1051/e3sconf/202130702002.
Full textAbstract:
The development of financial markets is characterized by the emergence of new financial instruments, in particular derivatives, the risk level analysis of which is complicated. Counterparties are not always fully aware of and do not adequately assess the potential risks of derivatives, which may lead to large financial losses and sometimes bankruptcies. The purpose of the study is to generalize approaches to regulating derivative markets and analyse the adequacy of regulatory influence to ensure sustainable development of the global financial system. The article analyses the approaches of scientists and regulators of the USA and the EU to the regulation of the derivatives market before and after the financial crisis of 2007-2008. Prior to the crisis, most scholars took a liberal approach to derivatives market regulation and recommended monitoring new instruments and not restricting their circulation in any way, emphasizing that effective counterparty risk management and their propensity for self-preservation can prevent excessive risk-taking. The authors analyse the potential risks of derivatives and conclude that exchange-traded derivatives can cause similar processes of liquidity crisis, and, therefore, need additional regulatory tools to ensure the stability of the financial system
48
Christ, Margaret H., Natalia Mintchik, Long Chen, and James L. Bierstaker. "Outsourcing the Information System: Determinants, Risks, and Implications for Management Control Systems." Journal of Management Accounting Research 27, no. 2 (June 1, 2014): 77–120. http://dx.doi.org/10.2308/jmar-50847.
Full textAbstract:
ABSTRACT Organizations are outsourcing traditional functions that have financial reporting implications, such as transaction processing and valuation assessments, with increasing frequency. This practice of outsourcing aspects of the information system transforms the control structure of the outsourcing company and creates new challenges for management and accountants that are not explicitly addressed by current research. In this paper we synthesize academic literature and regulatory guidance on using third parties to perform functions with financial reporting implications (i.e., service organizations) and identify specific opportunities for future accounting research. To provide structure to our review and highlight knowledge gaps, we develop an organizing framework that links existing theories of outsourcing determinants to outsourcing risks and identifies the advantages and limitations of certain control mechanisms to mitigate such risks. Very little academic research exists on the use of service organizations, despite the rapid growth of this practice and regulators' concerns that financial reporting quality may suffer due to inappropriate management oversight and audit deficiencies. We provide insights for future research on (1) factors influencing companies' decisions to outsource the information system, (2) risks that arise when companies outsource the information system, and (3) implications for management control systems.
49
Mehdi, Bazzi, Chhaiba Hassan, and Hasna Chamlal. "Concentration risk: Setting credit limits in loan portfolios, case of Morocco." Risk Governance and Control: Financial Markets and Institutions 6, no. 3 (2016): 50–58. http://dx.doi.org/10.22495/rcgv6i3c1art6.
Full textAbstract:
The latest biggest financial crisis reveals different weakness points over the global financial system. The concentration risk is one of many different risks that figured out by the regulators after the 2008 financial crisis. To deal with such a risk the regulators set up a dispositive of measures to control it. Therefore, we suggest in this paper a version of a mathematical model that optimize the allocation of capitals for a credit portfolio of a bank with taking into consideration the Moroccan regulatory environment.
50
Lei, Yucheng. "A Digital Economy Perspective: Research on Legal Issues of Fintech Regulation." Law and Economy 1, no. 5 (December 2022): 26–30. http://dx.doi.org/10.56397/le.2022.12.03.
Full textAbstract:
The Internet digital economy is reshaping the global financial system with an irreversible trend, driving the transformation and development of financial technology. Due to the professional complexity and cross-border integration of financial technology, while improving the efficiency of traditional financial operations and reducing financial transaction costs, it also poses new challenges to Chinese regulatory authorities. In view of this, it is necessary to understand the development status of financial technology, clarify the regulatory subjects and principles of financial technology supervision, and sort out and summarize the existing regulatory model and its shortcomings. Finally, I will give advice on the problems existing in the practice of financial technology supervision, and theoretical support is put forward for improving the legal system of financial supervision, so as to promote the healthy development of financial technology.