A Perceived Trend in Modern International Financial Regulation: Increasing Reliance on a Public-Private Partnership
This article examines the trend of increased involvement by the private sector in the area of international banking regulation and supervision. The analysis centers on an evolving "public-private partnership" among governments, banking authorities, and large and complex banking organizations. Topics addressed in the article include the evolution of risk-focused bank supervision, the parameters and dynamics of the partnership between elite banks and governments, and qualified self-regulation by the elite banking community. The author also provides concluding observations on the challenges of elite bank risk-focused supervision and examination and raises the question of whether international regulators and banks are up to the task of their newfound partnership.
Joseph J. Norton, A Perceived Trend in Modern International Financial Regulation: Increasing Reliance on a Public-Private Partnership, 37 Int'l L 43 (2003)