ACCA Calls for Improved Dialogue Between Regulators and Businesses in 2010
Summary
The risk is that if this is not achieved, governments could lose patience and impose a framework of strict and detailed regulations rather aiming for than a balanced and common sense business environment”.It examines: · the purpose and structure of regulation · competition · standards of conduct and competence · governance · accountability and incentives · risk management and capital funding.John Davies, ACCA’s head of business law and co-author of the report, says: “It is still too early to give a definitive view of the regulatory landscape as proposals are still being consulted on at national and global levels.The risk is that if this is not achieved, governments could lose patience and impose a framework of strict and detailed regulations rather aiming for than a balanced and common sense business environment”.The paper argues that much remains to be done to ensure Non-Executive Directors exercise meaningful and effective oversight of actions of executives in large complex banks.It examines:· the purpose and structure of regulation· competition· standards of conduct and competence· governance· accountability and incentives· risk management and capital funding.John Davies, ACCA’s head of business law and co-author of the report, says: “It is still too early to give a definitive view of the regulatory landscape as proposals are still being consulted on at national and global levels.