In recent years, international regulatory cooperation has evolved significantly, addressing weaknesses in overseeing international financial institutions and cross-border activities. Regulatory bodies worldwide have recognised the necessity of cooperation to maintain financial stability.
Initiatives like bilateral Memoranda of Understanding (MOU), Multilateral Memoranda of Understanding (MMOU), and supervisory colleges have been established to facilitate information sharing and collaboration among regulators. These efforts aim to improve consolidated and solo supervision, enhance crisis management, and ensure timely action in emergency situations.
The future will likely see even greater emphasis on peer reviews and supervision effectiveness, as regulators work together to minimise risks and maintain financial stability across borders.
Read the article: It’s good to talk
(Article first published in Intouch Magazine, 2009.)
Any views and opinions presented in this article belong to their author and do not necessarily mirror those of ISOLAS LLP. Due to the rapidly evolving nature of legislation, the content provided should not be taken as legal advice. ISOLAS LLP does not accept any responsibility or liability for the accuracy, content, completeness, legality, or reliability of the information.
