Why Regulatory Consensus Is Bad
Regulators working at cross-purposes or sending mixed messages can send a compliance officer to an early retirement. The alternative, global regulatory harmonization, is no better, according to Yale Law professor Roberta Romano, who spoke at the Institute Paper Series in Applied Finance, held at Baruch College in New York on Thursday.
Though the event’s stated topic concerned the broader evolving regulatory environment, Romano was most skeptical of the Basel Accords. The global banking
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