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Cultural Differences between U.S. Federal Financial Regulators and Implications for Interagency Collaboration

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  • Jae Jin Im

Abstract

The problematic collaboration between the Commodity Futures Trading Commission and the Securities and Exchange Commission is a recurrent issue in U.S. financial regulatory reform. For enhanced interagency collaboration, this study deals with the important but neglected issue of cultural differences between the agencies, departing from the typical structural and legal viewpoints. As the result of a qualitative analysis, the study found substantive cultural differences between the agencies in terms of three categories: priority of mission, attention to information disclosure, and dominant professional culture. This finding implies that the limited collaboration between the agencies probably has resulted from their cultural differences, and that such cultural differences should be reconciled to improve collaboration in the future.

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  • Jae Jin Im, 2013. "Cultural Differences between U.S. Federal Financial Regulators and Implications for Interagency Collaboration," International Review of Public Administration, Taylor & Francis Journals, vol. 18(2), pages 109-144, August.
    • Handle: RePEc:taf:rrpaxx:v:18:y:2013:i:2:p:109-144
    DOI: 10.1080/12294659.2013.10805255
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    1. Anne E. Peck, 1985. "Futures Markets: Their Economic Role," Books, American Enterprise Institute, number 968570, September.
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