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Part I European Reform as a Response to the 2008 Crisis, 1 Restructuring Global and EU Financial Regulation

Julia Black

From: Financial Regulation and Supervision: A post-crisis analysis

Edited By: Eddy Wymeersch, Klaus J Hopt, Guido Ferrarini

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 27 January 2022

Subject(s):
Supervision — Regulated activities — Financial Stability Board (FSB) — International Monetary Fund (IMF) — Basel committee on Banking Supervision — Financial stability
1.01 It is said that ‘generals fight the last war’. Regulators can do the same. In the wake of the crisis, regulators and politicians are currently fighting on a number of battlefronts. New policies are rapidly proliferating from the international committees of regulators, from international organizations such as the OECD and IMF, from national governments, and from the EU. New provisions are being brought in, regulatory structures are being reconfigured, and new regulators are being created. 1.02 The question is whether the financial regulators are building the...
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