This paper evaluates the Observance of Standards and Codes on the International Organization of Securities Commission (IOSCO) Objectives and Principles of Securities Regulation for New Zealand. New Zealand equity markets are comparatively small with market capitalization of about 44 percent of...

The Detailed Assessments of the Observance of Standards and Codes on the IOSCO Objectives and Principles of Securities Regulation on Kuwait review preconditions for effective securities regulation. The securities market in Kuwait is the second largest in the Arab world in terms of value of...

This note discusses the basic economics of central clearing for derivatives and the need for a proper regulation, supervision and resolution of central counterparty clearing houses (CCPs). New regulation in the U.S. and in Europe renders the involvement of a central counterparty mandatory for...

One of the key features of regulatory-supervisory reform thinking post 2006-2007 Global Financial (nee US Subprime Mortgage) Crisis is emergence and popularisation of the ‘systemic' theme. In a similar vein, talks of ‘too interconnected to fail' superseding ‘too big to fail' widely...

Although secured transactions traditionally are regulated to protect transacting parties and to make the transactions themselves more efficient, the financial crisis has revealed that regulation should also protect the stability of the financial system. This raises numerous future challenges....