IDEAS home Printed from https://ideas.repec.org/a/prs/recofi/ecofi_0987-3368_1995_num_33_2_2466.html
   My bibliography  Save this article

Adapter la régulation aux marchés : l'avis d'un spécialiste

Author

Listed:
  • Patrick de Saint-Aignan

Abstract

[fre] Les marchés financiers se sont développés de façon considérable au cours de ces vingt dernières années. L'auteur, Président de Morgan Stanley SA à Paris, fondateur et ancien Président de l'International Swaps and Derivatives Association, s'interroge sur la réponse que doivent donner les régulateurs dans ce contexte de mondialisation accrue. Après avoir examiné les avantages et inconvénients de l'harmonisation, il envisage une voie intermédiaire entre l'uniformisation forte des standards internationaux et le développement non coordonné des régulations nationales. Il propose une approche commune de la régulation qui pourrait se développer dans les domaines suivants : renforcement de la notion de superviseur de référence, adoption de mesures du risque comparables par types de risques plutôt que par produits, promotion de lignes directrices pour le contrôle interne, efforts de mise à jour des principes comptables et amélioration de . l'information financière. [eng] Adapting regulation to markets : comments from a specialist . Financial markets have greatly developed over the last twenty years. The author, who is Morgan Stanley SA's chairmain in Paris offices, founder and former president of the International Swaps and Derivatives Association, considers the answer that regulators are to provide in a context of overwhelming globalization. After having analysed the advantages and disadvantages of harmonization, he proposes an intermediate solution between a strong levelling of international standards and non coordinated development of national regulations. He suggests a common approach of regulation which could be developed in the following fields : strengthening of reference supervisor's idea, adoption of risk measures compared according to risk types instead of product types, promotion of guidelines for internal supervision, efforts to update accounting methods and enhancement of financial reporting and information.

Suggested Citation

  • Patrick de Saint-Aignan, 1995. "Adapter la régulation aux marchés : l'avis d'un spécialiste," Revue d'Économie Financière, Programme National Persée, vol. 33(2), pages 91-106.
  • Handle: RePEc:prs:recofi:ecofi_0987-3368_1995_num_33_2_2466
    DOI: 10.3406/ecofi.1995.2466
    Note: DOI:10.3406/ecofi.1995.2466
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/ecofi.1995.2466
    Download Restriction: no

    File URL: https://www.persee.fr/doc/ecofi_0987-3368_1995_num_33_2_2466
    Download Restriction: no

    File URL: https://libkey.io/10.3406/ecofi.1995.2466?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
    ---><---

    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:prs:recofi:ecofi_0987-3368_1995_num_33_2_2466. 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: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/ecofi .

    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.