The sector of the world economy which is labeled ‘Financial Services’ on economic pie-graphs, has changed considerably over the last 25 years. Its slice of that pie has also grown, as financial institutions evolved from domestic firms engaged in distinct banking, securities, and insurance services into integrated financial services conglomerates offering a broad range of financial products across the globe. These Medusa-like firms and their products now appear even in the most unexpected places, wearing all manner of disguises, and the task of regulating them has grown astronomically. Given these developments, an assessment of the architecture and history of supervisory structures in different parts of the world is long overdue. The financial turmoil which unfolded in 2007 has raised questions regarding the efficiency of the financial regulatory structures which existed in the world then, and those which exist today. Many questions remain unanswered, casting doubts on the approaches taken by financial regulators to financial crisis management, and on the efficiency of current national and international structures in dealing with the collapse of systemically important global financial institutions. Following the crisis, many countries reformed their financial regulatory structures and moved from one type to another, yet these changes did not cause any convergence towards any particular type of financial regulatory structure.

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K. Heine (Klaus) , A. Pomelli (Alessandro)
This thesis was written as part of the European Doctorate in Law and Economics programme
EDLE - The European Doctorate in Law and Economics programme
Erasmus School of Law

Jabotinsky, H. (2014, December 16). The Structure of Financial Supervision. EDLE - The European Doctorate in Law and Economics programme. Retrieved from http://hdl.handle.net/1765/77287

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