Sarkozy’s Moment
The international system of financial regulation remains a spider’s web of committees, councils, and agencies with overlapping responsibilities, unrepresentative memberships, and inadequate enforcement powers. President Nicolas Sarkozy of France, which chairs the G-20 this year, should push for a modicum of global coordination and consistency.
https://prosyn.org/GphNei2
LONDON – A little more than three years ago, just as the financial crisis was getting into full swing, I published a guide to the international system of financial regulation, Global Financial Regulation: The Essential Guide. It described an elaborate spider’s web of committees, councils, and agencies with overlapping responsibilities, unrepresentative memberships, and inadequate enforcement powers – a system built up incrementally over decades, with no guiding architectural hand or central authority to promote coherent global regulatory standards.