Strengths and Weaknesses in Securities Market Regulation: A Global Analysis

IMF Working Papers, November 1, 2007

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Canonical URL: Strengths and Weaknesses in Securities Market Regulation: A Global Analysis

The paper examines strengths and weaknesses of securities regulatory systems worldwide to identify common problems and areas of global concern.
A consistent theme emerges: lack of ability of regulators to effectively enforce compliance with existing rules and regulation.
Factors undermining regulators' capacity include:
- insufficient legal authority
- a lack of resources
- lack of political will
- insufficient skills
Weaknesses are more acute in areas of increased technical complexity, specifically:
- standards for and supervision of the valuation of assets
- supervision of risk management practices

Subject: Emerging and frontier financial markets; Personal income; Securities; Securities markets; Securities regulation
Keywords: conduct rule; market country; market intermediary; market participant; securities regulator; WP

The Working Paper describes research in progress by the author(s) and is published to elicit comments and to further debate.
Disclaimer included: This Working Paper should not be reported as representing the views of the IMF. The views expressed are those of the author(s) and do not necessarily represent those of the IMF or IMF policy.

Source: Strengths and Weaknesses in Securities Market Regulation: A Global Analysis, IMF Working Papers 2007, 259 (2007).

Annex 1. Detailed Analysis of the Assessment Data
- Annex 1. Detailed Analysis of the Assessment Data (Markdown version)
- Annex 1. Detailed Analysis of the Assessment Data (PDF)