International Trends in the Regulation of the Financial Services Sector

The Australian Journal of Corporate Law, Vol.14, No.1, pp. 57-73, 2002

26 Pages Posted: 7 Feb 2013  

George Gilligan

University of Melbourne - Centre for Corporate Law and Securities Regulation

Date Written: April 9, 2002

Abstract

This paper discusses the regulatory role of certain international organizations in the financial services sector. The regulatory initiatives of some organizations such as the Bank for International Settlements (BIS) and the International Organization of Securities Commissions (IOSCO) have been widely accepted without controversy. However, some of the initiatives of the Financial Action Task Force (FATF) and the Organization of Economic Cooperation and Development (OECD) have been criticized as impinging on national legal systems and accepted notions of national sovereignty. The paper discusses these issues in the context of constructions of legitimacy in the regulation of financial markets.

Keywords: international organisations, regulation, financial markets, legitimact

JEL Classification: G15, G18, G28, K42

Suggested Citation

Gilligan, George, International Trends in the Regulation of the Financial Services Sector (April 9, 2002). The Australian Journal of Corporate Law, Vol.14, No.1, pp. 57-73, 2002. Available at SSRN: https://ssrn.com/abstract=2213081

George Gilligan (Contact Author)

University of Melbourne - Centre for Corporate Law and Securities Regulation ( email )

185 Pelham Street, Carlton, Building 106
Victoria 3010
Australia
+61 3 8344 1079 (Phone)

HOME PAGE: http://www.law-cclsr@unimelb.edu.au

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