WFE Financial Markets and International Regulatory Dissonance: Position Paper – 22 November 2017
Despite efforts to coordinate post-crisis financial regulatory reforms at the G20 level, and the extensive work done by international standard-setters such as IOSCO, global exchanges and CCPs are concerned about diverging approaches to the implementation of financial regulation and the impact on cross-border business, particularly for firms in emerging markets.
The paper identifies the adverse effects of these developments and proposes solutions related to disproportionate expense, uncertainty and inconsistency in implementation timelines, legal uncertainty policy incoherence and economic (in)efficiency.
