Twin Peaks Revisited - Centre for Competition Law and Policy
Twin Peaks Revisited - Centre for Competition Law and Policy
Twin Peaks Revisited - Centre for Competition Law and Policy
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The <strong>Twin</strong> <strong>Peaks</strong> alternative<br />
� Taylor (1995); Goodhart (1995); Australian Financial<br />
System Inquiry (1996)<br />
� Structure regulation according to objective or purpose<br />
� Two regulatory agencies<br />
� Financial stability = ensure the prudential soundness<br />
of financial institutions irrespective of legal <strong>for</strong>m<br />
� Consumer protection = ensure adequate<br />
disclosure/consumer protection <strong>for</strong> all products<br />
irrespective of legal <strong>for</strong>m<br />
� What role <strong>for</strong> the central bank?
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