Purpose – The purpose of this paper is to define the key components of an effective regulatory regime. Design/methodology/approach – The paper takes the form of a critical analysis. Findings – Regulatory arbitrage has been one of the major factors contributing to the severity of the...

Purpose – The purpose of this paper is to define the key components of an effective regulatory regime. Design/methodology/approach – The paper takes the form of a critical analysis. Findings – Regulatory arbitrage has been one of the major factors contributing to the severity of the...

Regulatory arbitrage has been one of the major factors contributing to the severity of the crisis. Given the ever more complex set of future regulatory constraints, it may keep generating costly negative spillover effects on the whole economy. Moreover, rules-based regulation, however carefully...