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Kaufmann, C; Weber, R H (2010). The role of transparency in financial regulation. Journal of international economic law : JIEL, 13(3):779-797.

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Abstract

Transparency is a prerequisite for good governance and sound financial regulation. The article expounds the different foundations and functions of transparency. The first dimension refers to institutional aspects, i.e. procedures and decision-making. By providing legal certainty, transparency serves as an anchor for financial regulation. It is the basis for establishing trust, which is the key element of any financial system. In its second dimension, transparency is understood as the substantive backbone of financial regulation. It lays open the values and goals of financial policy and regulation. The third dimension is accountability of actors as an essential element for rebuilding confidence in the financial system. Finally, the concept of transparency as suggested here cannot be isolated from international developments. The article proposes that turning to the principles applied under the General Agreement on Trade in Services for defining a set of applicable international standards for financial services may be an avenue to be pursued and explored in the future.

Item Type:Journal Article, refereed, original work
Communities & Collections:02 Faculty of Law > Institute of Legal Sciences > Business Law
02 Faculty of Law > Institute of Legal Sciences > Constitutional, Administrative and International Law
DDC:340 Law
Language:English
Date:2010
Deposited On:28 Dec 2010 11:27
Last Modified:27 Nov 2013 21:12
Publisher:Oxford University Press
ISSN:1369-3034
Publisher DOI:10.1093/jiel/jgq037
Related URLs:http://jiel.oxfordjournals.org/ (Publisher)
http://opac.nebis.ch/F/?local_base=NEBIS&con_lng=GER&func=find-b&find_code=SYS&request=004397666
Citations:Web of Science®. Times Cited: 2
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