Beyond International Standards: Mapping the Future of Capital Markets Regulation

CIGI Policy Brief No. 136 — September 2018

8 Pages Posted: 29 Oct 2018

Date Written: September 6, 2018

Abstract

As a response to multiple financial shocks, international standards have disappointed. Consensus-seeking has stifled innovation, perpetuating outdated regulatory concepts at a time of rapid market change. Different forces are at work now. Markets are complex and idiosyncratic; they may not be receptive to efforts designed to produce regulatory harmonization and convergence and there may be benefits in less co-ordination. Alternatives to international standard setting should be explored. The possibilities include fora for experimentation in capital markets regulation, sets of variegated model capital markets laws and a “restatement”-like treatise.

Keywords: IOSCO, Financial Stability Board, G20, IMF, World Bank, Global Financial Crisis, International Financial Standards, Securities Regulation, Capital Markets

JEL Classification: G01, G15, G18, G24, G30, K22, K33, F01, F02, F30, F36, F38, F42, F53, F65

Suggested Citation

Jordan, Cally E., Beyond International Standards: Mapping the Future of Capital Markets Regulation (September 6, 2018). CIGI Policy Brief No. 136 — September 2018. Available at SSRN: https://ssrn.com/abstract=3258456 or http://dx.doi.org/10.2139/ssrn.3258456

Cally E. Jordan (Contact Author)

Melbourne Law School ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia

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