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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Does regulatory structure<br />
matter?<br />
� Sometimes dismissed as “rearranging the deckchairs<br />
on the Titanic” (Martin Wolf)<br />
� Temptation <strong>for</strong> politicians to change regulatory<br />
structures after a crisis to be seen “to do something”.<br />
� Other factors influencing effective supervision:<br />
� Clear objectives<br />
� Independence <strong>and</strong> accountability<br />
� Adequacy of resources<br />
� Effective en<strong>for</strong>cement powers<br />
� Comprehensiveness of regulation (Abrams/Taylor 2000)
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