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The panel found that "half-hearted attempts at saving an institution from insolvency that lack coordination among regulators" might be more costly than a full bailout or bankruptcy.
The basic premise on which the model rests is expectedly its ability to ensure, besides other factors, communication and coordination among regulators for dealing with some of the major problems, in particular, regulatory arbitrage, posed by modern complex financial markets.
Crucially, as these proposed frameworks demonstrate, the key to solving the cross-border conundrum is not legal harmonization – a universal law to deal with the universal bank – but rather, mandated coordination among regulators, and a shift in fiduciary obligations from individual entities or jurisdictions to the group and the global financial system.
A financial innovation program needs clear goals, coordination among regulators and strong consumer protection he said.
But the work of reversing decades of poor coordination among regulators and lax enforcement will require more than the promise of one director.
Paul Leonard, a lobbyist for the Financial Services Roundtable, said his organization's members believe that there should be better coordination among regulators and that existing agencies can handle the responsibility.
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This paper discusses key design issues about boundary and target setting for Renewable Energy Certificate and Perform Achieve Trade energy saving certificate (ESCert) A data sharing and trading mechanism for Perform Achieve Trade is also proposed for review and coordination among regulator, designated consumers and traders in the market.
That would most likely mean a significant tightening of coordination among national regulators.
Today's proposals will flesh out the domestic component of the initiative, and will call for greater coordination among financial regulators and federal, state and local law enforcement officials to help combat money laundering.
Coordination among the regulators was enhanced in 2006, when a Presidential Decree created a committee called COREMEC – Comitê de Regulação e Fiscalização dos Mercados Financeiro, de Capitais, de Seguros, de Previdência e Capitalização (Committee for the Regulation and Supervision of Financial, Securities, Insurance, and Complementary Pension) within the Ministry of Finance.
In fact, most FSCs have been designed only to improve communication and coordination among existing regulators.
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coordination among institutions
coordination among monitors
cooperation among regulators
coordination among authorities
interaction among regulators
coordination among decision makers
interactions among regulators
coordination among registries
coordination among stakeholders
coordination among sublicensors
coordination among investigators
coordination among progressives
coordination among individuals
coordination among subsystems
coordination among forces
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