South Africa has made substantial progress in addressing the recommendations of the Financial Sector Assessment Program and is continuing to build upon these accomplishments. The Financial Services Board and Department of Trade and Industry both are organizations with the legal authority to...

Singapore’s financial sector, which is dominated by the banking sector, remains robust despite a series of economic downturns and substantial asset price declines. Economic developments in the past few years have highlighted Singapore’s vulnerability to exogenous shocks, including...

Germany has a comprehensive legislative and institutional framework for the effective supervision of the securities markets. The overall level of compliance with the IOSCO principles is high. There are significant industry concerns about the implementation costs resulting from a rapidly changing...

This report discusses the IMF/World Bank Financial Sector Assessment Program (FSAP) exercise for China undertaken during June–December 2010. The assessment concluded that reforms in China have progressed well in moving toward a more commercially oriented financial system. Despite success...