Symposium : The Promise and Perils of Convergence in Financial Regulation and Consumer Protection: Designing Optimal Models of Financial Regulation in a Changing Financial Environment

Consolidating on the Symposium “The Promise and Perils of Convergence in Financial Regulation and Consumer Protection”…………………., this volume focuses exclusively on the structure of financial regulation – as well as the system of financial supervision – in incorporating the role of external auditors through on site and off site supervision.As well as contributing to the literature on whether regulatory convergence should be encouraged in matters relating to consumer finance and investment products, this volume is aimed at highlighting how initiatives and regulatory objectives of regulators within the banking, insurance and investment industries can be consolidated upon. This is extensively illustrated by way of reference to effective compliance, monitoring and enforcement procedures and ultimately through regulatory models such as the Enforced Self-Regulation model and the Co-operative and Competitive Enforced Self-Regulation models.Further, the volume effectively demonstrates that the structure of financial regulation is not only crucial to the success of the attainment of regulatory objectives, but also the extent of involvement, coordination, and cooperation between involved supervisory authorities. In addition, the allocation of appropriate tools and resources to those authorities who are best endowed, equipped with the expertise to carry out the required level of monitoring and supervision, as well as clear allocation of such responsibilities, would ensure resources of time, expertise are not wasted and that responsibilities are not duplicated