## Accountability Arrangements for Financial Sector Regulators

_Economic Issues, March 14, 2006_

## Source details

**Canonical URL:** [Accountability Arrangements for Financial Sector Regulators](https://www.imf.org/en/publications/economic-issues/issues/2016/12/31/accountability-arrangements-for-financial-sector-regulators-18455)

## Other formats

- [Markdown version](/en/publications/economic-issues/issues/2016/12/31/accountability-arrangements-for-financial-sector-regulators-18455/index.md)
- [Structured JSON version](/en/publications/economic-issues/issues/2016/12/31/accountability-arrangements-for-financial-sector-regulators-18455/index.json)
- [Bundle manifest](/en/publications/economic-issues/issues/2016/12/31/accountability-arrangements-for-financial-sector-regulators-18455/bundle-manifest.json)

## Bibliographic details
- Authors: Eva H. G. Hüpkes, Michael W Taylor, Marc G Quintyn
- Published: March 14, 2006
- Series: Economic Issues
- DOI: https://doi.org/10.5089/9781589064775.051

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### Summary
- Policymakers are often reluctant to grant independence to the agencies that regulate and supervise the financial sector because of the fear that these agencies, with their wide-ranging responsibilities and powers, could become a law unto themselves.
- This pamphlet describes mechanisms for making regulatory agencies accountable not only to the government but also to the industry they supervise and the public at large, with examples from a range of countries.

### Major themes and findings
- Agency independence versus accountability: tension between granting independence to financial sector regulators and the need to prevent agencies from operating without sufficient oversight.
- Multiple accountability channels: the pamphlet emphasizes mechanisms that make regulatory agencies accountable to the government, the industry they supervise, and the public at large.
- Comparative examples: the pamphlet draws on examples from a range of countries to illustrate accountability arrangements in practice.

### Policy recommendations and mechanisms (as described)
- Design accountability arrangements that balance agency independence with mechanisms to ensure responsible exercise of wide-ranging powers.
- Ensure oversight through government channels while providing transparency and public accountability to the industry and general public.
- Use country examples to inform the design of oversight bodies, reporting requirements, and institutional checks.

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## Content in this bundle

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  - [ترتيبات مساءلة الهيئات التنظيمية المشرفة على القطاع المالي؛ قضايا اقتصادية رقم 39؛ 14 مارس 2006 (PDF)](/-/media/websites/imf/imported-publications/external/pubs/ft/issues/issues39/ara/_ei39_ara.pdf){rel="external" type="application/pdf"}
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  - [Sistemas de rendición de cuentas para reguladores del sector financiero (PDF)](/-/media/websites/imf/imported-publications/external/pubs/ft/issues/issues39/esl/_ei39_esl.pdf){rel="external" type="application/pdf"}
- **Dispositifs de responsabilisation pour les régulateurs du secteur financier**
  - [Dispositifs de responsabilisation pour les régulateurs du secteur financier (Markdown version)](/-/media/websites/imf/imported-publications/external/pubs/ft/issues/issues39/fra/_ei39_fra.pdf.md){rel="alternate" type="text/markdown"}
  - [Dispositifs de responsabilisation pour les régulateurs du secteur financier (PDF)](/-/media/websites/imf/imported-publications/external/pubs/ft/issues/issues39/fra/_ei39_fra.pdf){rel="external" type="application/pdf"}
- **Механизмы подотчетности органов регулирования финансового сектора**
  - [Механизмы подотчетности органов регулирования финансового сектора (Markdown version)](/-/media/websites/imf/imported-publications/external/pubs/ft/issues/issues39/rus/_ei39_rus.pdf.md){rel="alternate" type="text/markdown"}
  - [Механизмы подотчетности органов регулирования финансового сектора (PDF)](/-/media/websites/imf/imported-publications/external/pubs/ft/issues/issues39/rus/_ei39_rus.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/economic-issues/issues/2016/12/31/accountability-arrangements-for-financial-sector-regulators-18455_