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Do you think that there needs to be greater international cooperation in the regulation of financial service?

Do you think that there needs to be greater international cooperation in the regulation of financial service?

6.5 pages + 2 pages of references. Following the financial crisis in 2008, there is much more enthusiasm in the policy-making classes
for supra-national regulation, or , at least, coordination of regulatory rules. A good example of rules
being set on a global scale is the Basel Committee's rules on bank capital reserves and liquidity
rules. However, a robust international regulation will undermine the competitiveness of some
countries as their financial system and macroeconomic environment are different. Moreover, the
intention of the national policy makers too often seems to be "to find a regulatory regime that
crimps competitors more than one's own companies" (Stiglitz 2010).
Do you think that there needs to be greater international cooperation in the regulation of financial
service?

Index
1. Introduction
2. Changes in financial regulation
2.1 European Union and United Kingdom
2.2 United States
3. Market liberalisation and domestic regulation
4. International regulation and emerging markets
5. Conclusion
6. References

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