Strategies of Financial Regulation: Divergent Approaches in Conduct of Business Regulation of Mis-Selling in the UK and
Junghoon Kim, "Strategies of Financial Regulation: Divergent Approaches in Conduct of Business Regulation of Mis-Selling in the UK and "
English | ISBN: 981157328X | 2020 | 363 pages | EPUB, PDF | 859 KB + 4 MB
English | ISBN: 981157328X | 2020 | 363 pages | EPUB, PDF | 859 KB + 4 MB
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.