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Reviewing regulatory objectives: should the scope of regulation be extended?

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  • Ojo, Marianne

Abstract

This paper will consider whether the scope of financial regulation should be extended and if so, ways in which this could occur. In order to carry out these tasks, it will not only address problems identified from the recent crises and Basel 2, gaps which exist in some of the responses to these issues, but will also consider what roles other parties such as central banks and external auditors can play in achieving financial objectives. To a certain extent, it will address these issues by making references to proposals which have been put forward from different sources. It will introduce the points of discussion through an overview of global developments which have necessitated the need for a review of financial regulation and through a review of the present regulatory objectives.

Suggested Citation

  • Ojo, Marianne, 2009. "Reviewing regulatory objectives: should the scope of regulation be extended?," MPRA Paper 15547, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:15547
    as

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    References listed on IDEAS

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    1. Becht, Marco & Bolton, Patrick & Roell, Ailsa, 2003. "Corporate governance and control," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 1, pages 1-109, Elsevier.
    2. David G. Mayes & Geoffrey Wood, 2009. "Lessons from the Northern Rock Episode," Palgrave Macmillan Books, in: Robert R. Bliss & George G. Kaufman (ed.), Financial Institutions and Markets, chapter 4, pages 75-99, Palgrave Macmillan.
    3. Baldwin, Robert & Cave, Martin & Lodge, Martin, 2011. "Understanding Regulation: Theory, Strategy, and Practice," OUP Catalogue, Oxford University Press, edition 2, number 9780199576098.
    4. Power, Michael, 2003. "The invention of operational risk," LSE Research Online Documents on Economics 21368, London School of Economics and Political Science, LSE Library.
    5. Simona E. Cociuba, 2009. "Seeking stability: what's next for banking regulation?," Economic Letter, Federal Reserve Bank of Dallas, vol. 4(apr).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    risk; external; auditor; bank; regulation; financial; objectives;
    All these keywords.

    JEL classification:

    • K2 - Law and Economics - - Regulation and Business Law

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