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Czasopismo
2019 | nr 4 (77) | 7--22
Tytuł artykułu

Financial market supervision: recent developments and challenges ahead

Autorzy
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
Supervision of the financial markets has become over the last twenty years or so, an increasingly important element of the financial system. It is progressively moving away from passive compliance checks, towards becoming a real and active influence of the financial markets. It is encompassing a growing range both of issues and entities and is undertaking an ever-deeper insight. Financial supervision is also increasingly acquiring regulatory powers through the extensive application of self-produced 'soft' regulatory norms as well as accumulation of resources. (proliferating particularly after the recent global financial crisis). The goal of this article is to provide a systematic review of principal challenges currently facing financial supervision. The article is split into three parts. Its first part discusses the theoretical foundations of the supervisory system trying to indicate the sources of its powers, including its societal role. It deserves more attention in view of the unprecedented powers acquired by supervisors over supervised institutions and the financial markets. In the second part we take a close look at the changing supervisory paradigm in its current form. The third part reviews the new challenges facing financial supervision in its search for innovations which adapt to new requirements, and the available opportunities in the development of its new toolkit.(original abstract)
Czasopismo
Rocznik
Numer
Strony
7--22
Opis fizyczny
Twórcy
  • Politechnika Warszawska
Bibliografia
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  • Kabza M., Źródła ryzyka systemowego i metody jego ograniczania na przykładzie kredytów walutowych w systemach bankowych krajów Europy Środkowo Wschodniej [Sources of systemic risk and methods of its mitigation on the example of foreign currency loans in the banking systems of the countries of Central and Eastern Europe], Key Text, 2014.
  • Masciandaro D., Quintyn M., The evolution of financial supervision: the continuing search for the Holy Grail, [in] Balling M., Gnan E. (ed.), 50 Years of money and finance: lessons and challenges, Vienna: Suerf, Larcier, 2013.
  • Masciandaro R.V., Pansini M. Quintyn, The economic crises: did financial supervision matter?IMF, WP 11/261.
  • Monkiewicz J., Monkiewicz M., Ochrona konsumentów w nowym paradygmacie regulacyjno-nadzorczym rynków finansowych, [in:] J. Monkiewicz, M. Orlicki (red.), Ochrona konsumentów na rynku ubezpieczeniowym w Polsce. Współczesne wyzwania, Poltext, 2015, pp. 13-38.
  • Monkiewicz J., Wyzwania współczesnego nadzoru nad rynkiem finansowym, [in:] L. Gąsiorkiewicz, J. Monkiewicz (red nauk.), Wyzwania współczesnych rynków finansowych, Wydział Zarządzania, Politechnika Warszawska, 2019, pp. 61-74.
  • Pridgen D., Sea changes in consumer financial protection: stronger agency and stronger laws, ssrn.com/abstract=2186035, 2013.
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  • Schoenmaker D., Wierts P., Macroprudential supervision: from theory to policy,ESRB, WPRS 2, 2016.
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Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171585364

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