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This article explores the interplay between private regulators and public supervisors within principles-based regulation and meta-regulation in the post-crisis European retail financial services landscape.
2) Pushing rules to the limit is infectious As the FSA points out there is no point in having principles-based regulation when you are dealing with people with no principles.
When is principles-based regulation not principles-based regulation?
Principles-based regulation, they said, would help in that effort.
"We have been engaged at all stages of the FSA's move towards more principles-based regulation".
The group of state officials and financial executives, which was brought together by Gov. Eliot L. Spitzer, also suggested proposals for principles-based regulation.
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Lukken: Well, I'm a strong proponent of principles-based regulations.
He pushed for what he called a "principles-based approach" to regulation, in contrast to rigid rules.
The fourth question is whether a principles-based approach to regulation is better than a rules-based one.Start with liquidity, the obvious gap in the regulatory firewall.
Admirers of the FSA's broad, principles-based approach to regulation contrast it with the lawyer-stuffed SEC, which values strongly enforced rules over guidelines.
Timothy Kirkhope, a British member of the committee, said before the vote, "A more principles-based and less prescriptive regulation would have been a better outcome".
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