Stocktake: Financial Regulation

|Chapter 16 Summary . . . |Stocktake: | | |fiscal Regulation | everywhereview This chapter reviews the main effects, some(prenominal) anticipated and unintended, which the recommendations of the Campbell Committee report have had on pecuniary regulating. Key Findings In response to the financial problems which occurred in the late 1980s and the expansion of superannuation, prudential regulation was upgraded through tougher outstanding requirements and structurally reformed through the consolidation, refocusing and better coordination of regulatory agencies. The greater range and complexity of products and, in some areas, concerns about more aggressive selling practices, have led to an change magnitude focus on consumer protection. This has resulted in raw(a) consumer credit regulation and new rules for disclosure, codes of choose and dispute resolution. Globalisation has created an increasing imply for global harmonisation of, and cooperation in, the conduct of financial regulation.

In the wait of new technologies, alliances and market social organisations, increased regulatory attention has been minded(p) to ensuring competitive conduct in all segments of the market and to providing a competitively neutral environment. The ad hoc nature of some new regulation has created a quite expensive regulatory framework. Over 800 staff are now involved in financial regulation in Australia, resulting in direct and compliance be which appear to be high by international standards. Chapter 16 Stocktake: Financial Regulation i Introduction Through its impact on the structure and conduct of the financial system, the deregulation which followed the report of the Australian Financial transcription Inquiry 1981 (Campbell Report) has had a consequential impact on the role, structure and cost of the regulatory arrangements... If you want to get a just essay, order it on our website: Orderessay

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