Strategies of Financial Regulation

Divergent Approaches in Conduct of Business Regulation of Mis-Selling in the UK and South Korea
1. Auflage 2020
ISBN: 978-981-15-7331-6
Verlag: Springer Nature Singapore

Buch, Englisch, 363 Seiten, Format (B × H): 148 mm x 210 mm, Gewicht: 496 g

This book analyses different strategies and their results in implementing financial regulation in terms of rule-making, public enforcement and private enforcement. The analysis is based on a comparative study of conduct of business regulation on mis-selling of financial instruments in the UK and South Korea. It extends into liquidity regulation in the banking sector and credit rating agency regulation. The book concludes that in rule-making, purposive rules are more effective for achieving regulatory goals with minimal undesirable results, but a rule-making system with purposive rules can only work on a foundation of trust among rule-makers, enforcers and the regulates, that with respect to public enforcement, the enforcement strategies should combine the compliance-oriented and deterrence-oriented approaches and be continuously adjusted based on close monitoring of the regulatory outcomes and that in private enforcement, regulation should be instituted as the minimum requirement in private law.

Zielgruppe

Research

Autoren/Hrsg.

Kim, Junghoon

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Anlagen & Wertpapiere
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen
• Rechtswissenschaften Wirtschaftsrecht

Inhaltsverzeichnis

1. Introduction and Research Framework.- 2. Rule-Making of COB.- 3. Public Enforcement of COB.- 4. Private Enforcement of COB.- 5. Lessons and Recommendation.

Über Autor(innen)

Junghoon Kim has been the Senior Examiner, for the Financial Supervisory Service (FSS) Korea (a governmental organization that supervises and examines financial institutions, regulates the capital market and protects financial consumers and investors) since 2007. From 2002 to 2006, he was a manager at KPMG (Global Accounting & Advisory Firm) and was involved in Basel II implementation projects in major Korean commercial banks.