IDEAS home Printed from https://ideas.repec.org/a/bpj/eucflr/v8y2011i2p259-275n7.html
   My bibliography  Save this article

Regulating Financial Markets in Times of Stress is a Fundamentally Human Undertaking

Author

Listed:
  • Zufferey Jean-Baptiste

    (**Professor of Law at the University of Fribourg (Switzerland); member of the Board of Directors of the FINMA (Swiss Financial Market Supervisory Authority).)

Abstract

The financial crisis of 2007–2009 now lies sufficiently far behind us to allow a first appraisal of the regulatory consequences that followed. As distinguished from asset managers, regulators cannot act countercyclically. Regulatory windows of opportunity remain open only for very brief periods and close quickly. It is not realistic to expect that banks can be prevented from once again taking on increasing risk. The pressure on them to show profitability is simply to great. Regulators are thus best advised to concentrate on imposing appropriate prudential requirements. The distribution of authority among the various supervisory agencies and the means of coordinating their activities need to be reassessed; in particular, the role that should properly be assigned to the central banks has not yet been clarified.

Suggested Citation

  • Zufferey Jean-Baptiste, 2011. "Regulating Financial Markets in Times of Stress is a Fundamentally Human Undertaking," European Company and Financial Law Review, De Gruyter, vol. 8(2), pages 259-275, January.
    • Handle: RePEc:bpj:eucflr:v:8:y:2011:i:2:p:259-275:n:7
    DOI: 10.1515/ecfr.2011.259
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/ecfr.2011.259
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.
    File URL: https://libkey.io/10.1515/ecfr.2011.259?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:eucflr:v:8:y:2011:i:2:p:259-275:n:7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyter.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.