How can you determine if financial legislation is effective? This article seeks to identify three characteristics that make up the basis for an effectiveness review, being the determination what the legislative objective is, who is it aimed at and what approach is taken to achieve this objective. Determining the legislative objective may prove to be a challenging undertaking, and the uncertainties that come with that affect the other two characteristics as well. And even if a clear legislative objective can be established, how can you be sure that its achievement was in fact attributable to the legislation under review? What do you compare your results to absent a baseline measurement and how can the vast number of variables that affect the effectiveness of the legislation under review be accounted for, if at all? Is effectiveness in financial legislation at all measurable and, when measured, what is its value in practice?

effectiveness, effectiveness measurement methodologies, financial legislation, legislative objective, product approval governance
dx.doi.org/10.5553/ELR.000168, hdl.handle.net/1765/134866
Erasmus Law Review
Erasmus Law Review
Erasmus School of Law

Koomans, J. (2020). The Effectiveness Paradigm in Financial Legislation – Is Effectiveness Measurable?. Erasmus Law Review, 13(2), 29–40. doi:10.5553/ELR.000168