Objectives-based legislation - or laws which focus on achieving particular and concrete outcomes - has become a new and important tool that financial sector regulators use to tackle large and varied financial system risks. Yet, objectives-based legislation - and the frequent principles-based...

In this paper, Nicolas Veron argues that the EU regulatory response to the crisis has been generally slower in the EU than in the United States, for four main reasons: swifter financial crisis management and resolution in the US; structural differences in legislative processes; the EU's...

According to Bernard Shull, although the recent round of banking legislation—most notably the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) and the Federal Deposit Insurance Corporation Improvement Act (FDICIA) - did take steps toward preventing financial crises, it did...