Regulatory Frameworks for Financial Services in Asia
In the wake of turmoil in global financial markets during the past two years, there has been much discussion about the weaknesses that led to the crisis and how to avoid a similar crisis in the future. Some discussion has focused on financial regulatory architecture, comparing the relative merits of existing structures. Regulatory oversight structures around the world generally employ one of three approaches for supervising financial services industries: 1) a single agency that oversees multiple financial services industries, including banking, insurance and securities; 2) separate agencies for each industry; or 3) a hybrid of these two approaches.
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