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2008 Global Recession And Development Of Regulatory Authorities

Question

Against the backdrop of the 2008 worldwide financial crisis and the numerous financial scandals that have subsequently emerged, governments and regulators around the world are reviewing their regulatory regimes to ensure that future risks can be identified more effectively and to demonstrate that lessons from the past have been learned.

You are the Head of Compliance at States International, a firm with an international client base that is regulated in a sector and jurisdiction of your choice. As the firm considers expanding business operations into other sectors and jurisdictions, members of the Board have asked you to provide them with a background paper that provides:

·    An overview of major international regulatory developments since 2008
·    An indication of the current main regulatory trends emerging internationally and the impact of these on the international regulatory environment
·    an indication of trends in the existing regulatory regime in your selected jurisdiction
·    a summary of the current regulatory model in your selected jurisdiction and sector, evaluating its ability to meet the stated objectives of the regulator(s) and discussing any areas of potential weakness.

Research these topics and prepare this paper for the Board providing the information requested. In doing so, you should specifically identify any issues that will be particular relevance to States International and draw on the experiences of other jurisdictions to identify the advantages and disadvantages of different regulatory regimes, illustrating your answer with examples of lessons learnt or specific initiatives that have defined the regulators’ approach (both in your own jurisdiction and in other jurisdictions) and which are likely to continue to impact States International in future. You should also produce a two page summary that highlights the potential impact of any for internal actions that are required as a result of these.

Summary

The question belongs to Economics and it discusses about regulatory compliance during the 2008 global financial emergency. The development of major international regulatory authorities since 2008 have been discussed.

Total Word Count 2649

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