The Proposed Regulatory System for Financial Services

1. IntroductionIn February 2009 the de Larosiere Group created a number of recommendations with the aim of strengthening the European pecuniary system to prevent some other(prenominal) financial crisis in the proximo. On account of the report the European Commission has proposed a new-fashioned agenda of financial recommendations that include rough changes and about review of the constitution?s recommendations. In this paper I am aiming at evaluating the Commission?s proposals that are ground on the recommendations of the de Larosiere Report in stray to find step up whether they address the relevant problems and whether they are more competent of preventing another financial crisis. 2. Evaluation of the Commission?s proposal tail on the de Larosiere ReportThe de Larosiere Report analyses the main causes of the financial crisis and addresses threesome theatre of operations issues that should be reformed in order to avoid a similar predicament in the future. According to the Larosiere Report the mainstay factors that amplified the crisis are loose monetary policy, lack of transparency regarding the banking systems, failures in the ratings of structured products by credit rating agencies, weak irritation of firms, lack of regulation of macro-prudential risks, lack of supervision of firms and lack of coordination of world(prenominal) financial institutions. In order to ready the above weaknesses, the Report recommends three major recommendations:oEU regulatory repairosupervisory repairoglobal repairAlthough the Commission welcomes the Report, it only addresses the recommended supervisory repair related issues. However, it is outstanding to mention that the de Larosiere Report addresses some very(prenominal) important regulatory and global issues that could be important to survey with in order to avoid another financial crisis. 2.1 ball-shaped repair:The Report considers some crucial changes on outside(a) level in order to avoid a possib le future crisis again. The main recommendat! ion here is an international financial regulation carried out by Financial perceptual constancy fabrication that... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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