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License To Deal: Mandatory Approval Of Complex Financial Products, Saule Omarova
License To Deal: Mandatory Approval Of Complex Financial Products, Saule Omarova
Saule T. Omarova
“There is definitely going to be another financial crisis around the corner because we haven’t solved any of the things that caused the previous crisis,” said hedge fund legend Mark Mobius, speaking in Tokyo nearly a full year after the United States officially embarked upon the greatest reform of financial services regulation since the New Deal. Today, the world is still reeling from the recent financial crisis, which ravaged even the strongest economies and left them battling recession, budget deficits, soaring unemployment, and political discontent. Facing another financial crisis in this situation is a frightening prospect. National governments, individually or …
Risks, Rules, And Institutions: A Process For Reforming Financial Regulation, Saule Omarova, Adam Feibelman
Risks, Rules, And Institutions: A Process For Reforming Financial Regulation, Saule Omarova, Adam Feibelman
Saule T. Omarova
It is fair to say that reforming the regulation of the financial sector is currently one of the most hotly debated issues on the policymaking agenda. Proposals for such reform are proliferating, and the official sector appears committed to adopting at least some meaningful reforms in the near-term. Broadly speaking, this movement toward regulatory reform emphasizes the need for structural reforms, outlines specific rules and regulations targeting primarily the perceived causes of the current crisis, and is carried along by a strong sense of the moment. Rather than add to the body of institutional and substantive proposals, this Article articulates …