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Cross-Border Supervision of Banks, Non-Banks and Internet Commerce

In: New Regulation of the Financial Industry

Author

Listed:
  • Dimitris N. Chorafas

Abstract

Blandly, the question is whether it is possible to create a system of mutually independent bank regulators and supervisors in the absence of a global government. The answer to this question starts with a subquery: is it possible to develop a framework which permits supervisors from all countries, not just G-10 to: use the same standards for the examination of banks and non-banks; ensure there is reliable financial reporting and transparency on a cross-border basis; share their findings in an uninhibited manner, but also in real enough time; and act upon delinquent entities in unison no matter from where they come and where they operate?

Suggested Citation

  • Dimitris N. Chorafas, 2000. "Cross-Border Supervision of Banks, Non-Banks and Internet Commerce," Palgrave Macmillan Books, in: New Regulation of the Financial Industry, chapter 8, pages 124-141, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-333-97743-9_8
    DOI: 10.1057/9780333977439_8
    as

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