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The complex financial activities tax aims directly at excess bank profit and pay.
Besides, global bank regulators are already pushing measures that should achieve roughly the same outcome as the complex financial activities tax.
Wall Street wants America to forget September 15 , 2008 because its captains and lieutenants earn billions in personal lucre from the risky, speculative and intentionally complex financial activities that led to the crash.
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The institutions that were rescued in 2008-9 weren't old-fashioned banks; they were complex financial empires, many of whose activities were effectively unregulated — and it was these unregulated activities that brought the U.S. economy to its knees.
The complex of mining, industrial, commercial, and financial activities arising from this vast mineral wealth made the southern Transvaal the economic heartland of South Africa.
It is a key player in the market for derivatives, which are complex financial instruments used in a range of activities from insuring against interest movements to taking bets on stock market movements.
"Al Shabab supporters in Kenya have established an extensive and complex financial support system to sustain their own activities, sponsor the travel of recruits to Somalia, support the Kenyan families of Al Shabab members in the field, and provide financial contributions to the jihadist cause," the report concluded.
If complex financial regulation creates incentives for such reckless financial complexity, then its costs may well offset its benefits.
Legal actions taken as a result of international offshore banking and financial activities in the Caymans usually are brought before the Grand Court; these involve complex issues and substantial assets.
The problem arose when some categories of financial activities grew to a large scale without proving to be socially useful, such as complex securitisation packages and derivative trading structures blamed for the credit crunch.
Instead, the IMF officials said that national proposals to restructure large banks, limit their activities or heighten requirements on foreign banks may be justified if regulators are unable to effectively supervise complex financial institutions or if foreign officials refuse to rein in banks considered to be "too important to fail".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com