November 01, 2006

For regulation in a world without borders you need minds without borders

Sir Walt Lukken writing about “Exchange regulation in a world without borders” November 1, correctly concludes that “Individual regulators, no matter how big, do not have the resources to monitor properly an entire global market” but then recommends that “They must enlist the expertise of other regulators with similarly high standards” which sounds like the creation of the coalition of the overrun. Instead we believe that a complete and very humble rethinking of what can and should be regulated in a global world that does not necessarily equate high standards with the right standards, is a much better place to start but, for that to occur, you will need to bring in a new generation of regulators that are not so stuck in their current geographic framework