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Date: Wed, 19 Jun 2013 17:38:06 +0200

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Quote:

SSRN Author: Roberta Romano
REVISION: For Diversity in the International Regulation of Financial Institutions: Critiquing and Recalibratin
http://www.ssrn.com/abstract=2127749

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Text:

This paper challenges the prevailing view of the efficacy of harmonization of international financial regulation and provides a mechanism for facilitating regulatory diversity and experimentation within the existing global regulatory framework. the Basel accords. Recent experience suggests that regulatory harmonization can increase, rather than decrease, systemic risk. By incentivizing financial institutions worldwide to follow broadly similar business strategies, regulatory error contributed to

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