A Comparative Study on International Financial Supervisory Legal Regulation in Post-crisis Era and Its Reference Value to China
Wei Xiong
Abstract
Wei Xiong
Abstract
In the post-crisis era,the main task of world's major economies has turned from curbing spread and deterioration of the crisis with short-term policies to reform of financial regulatory laws so as to cover the fundamental deficiency of current financial supervision system.The three major economies,the United States,Great Britain and the European Union,have issued a number of financial regulatory reform Acts,reflecting the new trend of legislative reform of international financial regulation,among which,strengthening the supervision on systemic risks and the protection of financial consumer's rights has become the focus of the reform,affording reference material for improving China's financial regulatory system as well as solving the problem of supervision on systemic risks and protection of financial consumer's rights.
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In the post-crisis era,the main task of world's major economies has turned from curbing spread and deterioration of the crisis with short-term policies to reform of financial regulatory laws so as to cover the fundamental deficiency of current financial supervision system.The three major economies,the United States,Great Britain and the European Union,have issued a number of financial regulatory reform Acts,reflecting the new trend of legislative reform of international financial regulation,among which,strengthening the supervision on systemic risks and the protection of financial consumer's rights has become the focus of the reform,affording reference material for improving China's financial regulatory system as well as solving the problem of supervision on systemic risks and protection of financial consumer's rights.
Key concepts: Financial crisis, Financial regulation, Regulatory reform, Legislature, China, Systemic risk, Financial system, Consumer protection