A Human Rights Based Approach to International Financial Regulatory Standards

SouthViews, Vol. 171, October 2018

7 Pages Posted: 8 Nov 2018

See all articles by Daniel Bradlow

Daniel Bradlow

University of Pretoria - Centre for Human Rights; American University - Washington College of Law

Date Written: October 5, 2018

Abstract

Globalization and information and communication technologies pushed national financial regulators to establish international standard setting bodies (SSBs) which promote non-binding international financial regulatory standards. However, finance inevitably has social and human rights impacts and the SSBs and their members are not meeting their responsibility to account for these impacts in their international standards. This failure means that financial regulators and institutions may under-estimate the risks associated with their operations leading to misallocations of credit, less safe financial institutions and less efficient and transparent financial markets. To avoid this problem, SSBs should adopt a human rights approach to standard setting. The benefits of doing so will exceed the costs.

Keywords: Human Rights, International Finance, International Financial Regulation, International Standard Setting Bodies

JEL Classification: F02, F39, F53, F60, G15, G18, K33

Suggested Citation

Bradlow, Daniel David, A Human Rights Based Approach to International Financial Regulatory Standards (October 5, 2018). SouthViews, Vol. 171, October 2018. Available at SSRN: https://ssrn.com/abstract=3262463

Daniel David Bradlow (Contact Author)

University of Pretoria - Centre for Human Rights ( email )

Private Bag X20
Hatfield 0028
Pretoria
South Africa

American University - Washington College of Law ( email )

International Legal Studies Program
4801 Massachusetts Avenue N.W.
Washington, DC 20016
United States
202-274-4205 (Phone)
202-274-4116 (Fax)

HOME PAGE: http://www.wcl.american.edu/faculty/bradlow/index.

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