The New Financial Services Marketplace: Towards a Safer and Sounder System
The shift in the financial services industry from domestic firms engaged in distinct banking, securities, and insurance businesses to universal banks offering a variety of products and services globally, exposed the shortcomings of current regulatory models. The financial turmoil of the last year has made these weaknesses even more apparent as a number of countries struggled to respond to the credit crisis. These challenges call for a careful assessment of current regulatory approaches, which the Obama Administration has begun to address.
In our new point of view, ‘Towards a safer and sounder system,’ the second in the shaping the new financial services marketplace series by the Center for Banking Solutions, we analyze some of the perceived challenges facing the financial system, and discuss the impediments involved in addressing them.
Download the point of view below.