Global Solutions to Global Problems: Promoting Regulatory Coherence in Financial Services for Pandemic Recovery
Global Solutions to Global Problems: Promoting Regulatory Coherence in Financial Services for Pandemic Recovery
Published 18 Mar 2021
A decade on from the last financial crisis and as COVID recovery efforts take centre stage, the IRSG calls for renewed commitment to global regulatory coherence, together with an enhanced commitment to solving issues with international co-operation.
Global regulatory coherence and consistent implementation of global standards in a way that fosters cross-border activity, encourages fair and open competition, benefiting customers, firms and their regulators alike. This report argues the case for a renewed commitment to “global solutions to global problems”, with practical examples on where market fragmentation may give rise to financial instability and other risks. This report also makes recommendations as to how local and international bodies can ensure this principle remains central to their work in the coming months and years. It makes recommendations in three specific areas – to foster operational resilience, to encourage innovation in digital governance and to incentivise sustainable finance.
Global Solutions to Global Problems: Promoting Regulatory Coherence in Financial Services for Pandemic Recovery
Published 18 Mar 2021
A decade on from the last financial crisis and as COVID recovery efforts take centre stage, the IRSG calls for renewed commitment to global regulatory coherence, together with an enhanced commitment to solving issues with international co-operation.
Global regulatory coherence and consistent implementation of global standards in a way that fosters cross-border activity, encourages fair and open competition, benefiting customers, firms and their regulators alike. This report argues the case for a renewed commitment to “global solutions to global problems”, with practical examples on where market fragmentation may give rise to financial instability and other risks. This report also makes recommendations as to how local and international bodies can ensure this principle remains central to their work in the coming months and years. It makes recommendations in three specific areas – to foster operational resilience, to encourage innovation in digital governance and to incentivise sustainable finance.