In this speech, Marcus Killick discusses the privatisation of regulation as a solution to address the challenges faced by small jurisdictions in supervising an increasingly sophisticated financial industry. He emphasises the need for effective regulation while considering the rising costs and complexity of financial products.
Killick presents the case of the Isle of Man’s outsourcing arrangement with the UK’s Securities and Futures Authority (SFA) to regulate stockbroking activities as an example of successful privatisation. He highlights the benefits of sharing resources, expertise, and harmonising regulations among jurisdictions to achieve efficient supervision.
Read the speech: The Privatisation of Regulation (1995)
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