Responsibilities of Financial Regulation

Dimitris N. Chorafas
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Dimitris N. Chorafas: New York Academy of Sciences

Chapter 8 in Financial Boom and Gloom, 2009, pp 183-208 from Palgrave Macmillan

Abstract: Abstract The incarnation of the concept of market regulation first saw the day in ancient Athens, when the city-state appointed a regulator of the grain trade. In more recent times, regulatory rules imposed against deception and price manipulation were first put forward in the late seventeenth and early eighteenth centuries. Compared with these efforts, the need for a broader perspective on bank regulation is a relatively recent concept. To operate effectively and within reasonable limits, markets need clear and explicit rules, which include: Legally binding and enforced contracts, Protection of each party’s proprietary and trading rights, A system of traffic lights all players must observe, and Corrective action for those who get out of line.

Keywords: Central Bank; Hedge Fund; European Central Bank; Capital Adequacy; Supervisory Authority (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-23583-0_8

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DOI: 10.1057/9780230235830_8

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