Is Australia's 'Twin Peaks' System of Financial Regulation a Model for China?

44 Pages Posted: 11 Apr 2016 Last revised: 15 Apr 2016

See all articles by Andrew Godwin

Andrew Godwin

Melbourne Law School

Li Guo

Peking University Law School

Ian Ramsay

Melbourne Law School - University of Melbourne

Date Written: April 11, 2016

Abstract

As China’s financial system has become more complex and integrated, calls have intensified for structural reform. In particular, many commentators have called for China to move towards the twin peaks model of financial regulation along the lines of the experience in Australia. This paper explores the insights that China might glean from the experience in Australia and other twin peaks jurisdictions and suggests certain choices that China might make if it decided to adopt the twin peaks model. Although such a decision is by no means certain and other options are perhaps more likely, at least in the short term, it is of critical importance to ensure that each option is fully understood before it is either ruled in or ruled out. This paper sets out to contribute to a broader understanding of the twin peaks model and Australia’s experience for this purpose.

Keywords: Twin Peaks, Financial

Suggested Citation

Godwin, Andrew and Guo, Li and Ramsay, Ian, Is Australia's 'Twin Peaks' System of Financial Regulation a Model for China? (April 11, 2016). CIFR Paper No. 102/2016. Available at SSRN: https://ssrn.com/abstract=2763300 or http://dx.doi.org/10.2139/ssrn.2763300

Andrew Godwin (Contact Author)

Melbourne Law School ( email )

185 Pelham Street
Carlton, Victoria 3053
Australia

Li Guo

Peking University Law School ( email )

Room 613, Chenming Building
Haidian District
Beijing, 100871
China

Ian Ramsay

Melbourne Law School - University of Melbourne ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia
+61 3 8344 5332 (Phone)

HOME PAGE: http://law.unimelb.edu.au/about/staff/ian-ramsay

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