Harmonisation and Regulation
The differences and vagaries in regulatory supervision pose a real challenge to the operation of international financial institutions. Each regulator seems to have its own requirements to monitor the stability of its respective market; keeping up with the assorted regulatory changes is a real burden for banks. Given the global nature of the economy and the web of connection that this entails, one must ask the question - is it not time that there was a truly harmonised approach towards regulatory requirements?
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