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Complete 20 pages APA formatted article: A Critical Review of Financial Regulation-Supervision in the Central Bank: A Comparison between the United States and the UK.
Complete 20 pages APA formatted article: A Critical Review of Financial Regulation-Supervision in the Central Bank: A Comparison between the United States and the UK. Enacted by the World Trade Organization (WTO) during the Uruguay Round negotiations, GATS determines whether and to what extent global economies are coming together into a single pattern. Despite such treatises, there are significant differences between the regulatory standards in banking between the United States and the United Kingdom, and this will be the focus of this paper.
Although finance has become one of the most globally integrated sectors in the world, financial mobility and competition causes international differences that are systematic and resilient. However, the similarities between the organizational structure of the British and American financial regulatory systems have significantly diverged since the UK consolidated its financial regulatory agencies within the unified body of the Financial Services Authority (FSA) and the financial system of the United States has remained decentralized and fragmented with a consortium of governing agencies. Comparatively, the U.S has a more ambitious regulatory agenda that encourages a more elaborate system of financial oversight that is inherently more difficult to consolidate. Contrarily, the goals of the financial regulators in the UK are more unpretentious and cost effectiveness is one of the country’s regulatory objectives in the field of financial regulation policy, which tends to promote a less awkward system of financial guidelines that more adequately accommodates consolidation of regulatory functions.
