Strengths and Weaknesses in Securities Market Regulation: A Global Analysis
AbstractThis paper examines the strengths and weaknesses of securities regulatory systems worldwide with a view to a better understanding of common problems and areas of global concern. We found that a consistent theme emerges regarding the lack of ability of regulators to effectively enforce compliance with existing rules and regulation. In many countries, a combination of factors, including insufficient legal authority, a lack of resources, political will and skills, has undermined the regulator's capacity to effectively execute regulation. This weakness is more acute in areas of increased technical complexity such as standards for and supervision of the valuation of assets and risk management practices.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 07/259.
Date of creation: 01 Nov 2007
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Postal: International Monetary Fund, Washington, DC USA
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-01-05 (All new papers)
- NEP-FMK-2008-01-05 (Financial Markets)
- NEP-REG-2008-01-05 (Regulation)
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- Ana Carvajal & Jennifer A. Elliott, 2009. "The Challenge of Enforcement in Securities Markets: Mission Impossible?," IMF Working Papers 09/168, International Monetary Fund.
- Martin CihÃ¡k & Alexander F. Tieman, 2008. "Quality of Financial Sector Regulation and Supervision Around the World," IMF Working Papers 08/190, International Monetary Fund.
- Kamal A. El-Wassal, 2013. "The Development of Stock Markets: In Search of a Theory," International Journal of Economics and Financial Issues, Econjournals, vol. 3(3), pages 606-624.
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