All Academic, Inc. Research Logo

Info/CitationFAQResearchAll Academic Inc.
Document

Varieties of Cooperation: Domestic Politics and Transnational Market Governance
Unformatted Document Text:  respect to negotiating agreements and following up on foreign requests for assistance. 24 According to one senior SEC official at the time, by passing the law, Congress said to the SEC: “here is all you need, now go negotiate agreements and implement them yourself!” 25 In the 1990s alone, the SEC negotiated and signed almost thirty additional MoUs with foreign regulatory authorities. Following the SEC’s lead, by the end of the decade, a total of over 250 MoUs had been concluded between securities regulators around the world, firmly institutionalizing cooperation in the transgovernmental mode. The second pillar of international regulatory cooperation in the industry has been the coordination of a range of rules, regulations, and standards among securities regulators within IOSCO. Having grown out of a “talk shop” for securities regulators of the Americas, IOSCO – with considerable SEC support – has become the leading forum for cooperation among securities regulators from more than 100 jurisdictions. 26 To accommodate the diversity of domestic regulatory regimes, any regulatory authority of a jurisdiction – be it an independent regulatory agency, a stock exchange, a self-regulatory association of securities dealers, or a ministry – can join. The majority of members, however, are independent regulatory agencies such as the SEC, making IOSCO a clear instance of what Slaughter calls a “Transgovernmental Regulatory Organization” (Slaughter 2000). Most of IOSCO’s work has been fairly uncontroversial. 27 Failure to reach an agreement on capital adequacy standards for securities firms has been its only significant setback (Zaring 24 These changes were enacted as part of the Insider Trading and Securities Fraud Enforcement Act of 1988 and through the International Securities Enforcement Cooperation Act of 1990. 25 Interview with former SEC official, 14 January 2002. 26 See “Watchdogs To Bark In Tune,” Financial Times 21 July 1986, Sec. I, p. 16. A list of IOSCO’s current members can be found at www.iosco.org . 27 It has adopted a “model MoU” to help members conclude agreements. Its working groups have developed a large number of standards and best practice solutions that have become international regulatory benchmarks. It conducts 28

Authors: Bach, David.
first   previous   Page 29 of 50   next   last



background image
According to one senior SEC official at the time, by passing the law, Congress said to the SEC:
“here is all you need, now go negotiate agreements and implement them yourself!”
1990s alone, the SEC negotiated and signed almost thirty additional MoUs with foreign
regulatory authorities. Following the SEC’s lead, by the end of the decade, a total of over 250
MoUs had been concluded between securities regulators around the world, firmly
institutionalizing cooperation in the transgovernmental mode.
The second pillar of international regulatory cooperation in the industry has been the
coordination of a range of rules, regulations, and standards among securities regulators within
IOSCO. Having grown out of a “talk shop” for securities regulators of the Americas, IOSCO –
with considerable SEC support – has become the leading forum for cooperation among securities
regulators from more than 100 jurisdictions.
To accommodate the diversity of domestic
regulatory regimes, any regulatory authority of a jurisdiction – be it an independent regulatory
agency, a stock exchange, a self-regulatory association of securities dealers, or a ministry – can
join. The majority of members, however, are independent regulatory agencies such as the SEC,
making IOSCO a clear instance of what Slaughter calls a “Transgovernmental Regulatory
Organization” (Slaughter 2000).
Most of IOSCO’s work has been fairly uncontroversial.
on capital adequacy standards for securities firms has been its only significant setback (Zaring
24
These changes were enacted as part of the Insider Trading and Securities Fraud Enforcement Act of 1988 and
through the International Securities Enforcement Cooperation Act of 1990.
25
Interview with former SEC official, 14 January 2002.
26
See “Watchdogs To Bark In Tune,” Financial Times 21 July 1986, Sec. I, p. 16. A list of IOSCO’s current
members can be found at
27
It has adopted a “model MoU” to help members conclude agreements. Its working groups have developed a large
number of standards and best practice solutions that have become international regulatory benchmarks. It conducts
28


Convention
All Academic Convention makes running your annual conference simple and cost effective. It is your online solution for abstract management, peer review, and scheduling for your annual meeting or convention.
Submission - Custom fields, multiple submission types, tracks, audio visual, multiple upload formats, automatic conversion to pdf.
Review - Peer Review, Bulk reviewer assignment, bulk emails, ranking, z-score statistics, and multiple worksheets!
Reports - Many standard and custom reports generated while you wait. Print programs with participant indexes, event grids, and more!
Scheduling - Flexible and convenient grid scheduling within rooms and buildings. Conflict checking and advanced filtering.
Communication - Bulk email tools to help your administrators send reminders and responses. Use form letters, a message center, and much more!
Management - Search tools, duplicate people management, editing tools, submission transfers, many tools to manage a variety of conference management headaches!
Click here for more information.

first   previous   Page 29 of 50   next   last

©2008 All Academic, Inc.