A good regulatory framework, including enforcement measures, needs to be established in order to develop a capital market.

(a) Promote an economic and regulatory climate that is conducive to inward remittances and to capital inflows, in general.

Basel II also recommends a new, more differentiated and stricter regulatory capital criterion for various types of such ratings.

They stressed that a sound regulatory framework had to be in place to complement the opening of a capital account.

The obstacles to be overcome related to non availability of capital and expertise, regulatory constraints and inadequacies in telecommunication and information systems technology.

Governments had some role to play in such matching exercises, particularly by providing a predictable regulatory environment, access to international capital markets, and the appropriate infrastructure.

Moreover, if financial institutions follow their own risk assessments when estimating appropriate capital cushions, the costs associated with such provisions decline. Better repayment prospects and lower regulatory capital costs then fuel the asset based financing of further acquisition of assets.

Capital buffers to absorb losses during the downturn of the cycle can be more easily built during the upswing. Furthermore, by raising regulatory capital costs in boom times, some counterweight to the pro cyclical bias intrinsic to financial systems would be introduced.

Regulatory issues

Regulatory action

Other regulatory controls

Disabling regulatory policies.

C. Regulatory environment

1. Regulatory activities

Some of these affect directly the supply of such services, such as the general unavailability of financial capital or insurance capacity or regulatory constraints or State monopolies of certain financial products.

14. Invites the International Monetary Fund to facilitate the dialogue among relevant actors to consider the possibility of establishing a regulatory framework for short term capital flows and trade in currencies

Institutional challenges such as capital controls, regulatory burden, problems in accessing foreign exchange and the lack of institutional infrastructure for OFDI support services are factors that have restricted developing country firms' internationalization.

There had been a wave of privatizations, unconditional opening to foreign markets, elimination of restrictions on the movement of capital and abolition of the regulatory powers of the State in the economy.

China Insurance Regulatory Commission

China Securities Regulatory Commission

Legal and regulatory environment3

Regulatory and control framework

A. General regulatory considerations

Supervisory and regulatory arrangements

20. Reiterates its invitation to the International Monetary Fund to facilitate the dialogue among relevant actors to consider the possibility of establishing regulatory frameworks for short term capital flows and trade in currencies

On the tradable side, competitiveness depends not only on human capital, but also on a host of other factors infrastructure, tax systems, regulatory efficiency, policy induced uncertainty, and energy and health care costs.

Fourth, regulatory structures will need to be rebuilt, and this will require a global effort. Absent international coordination, the opportunities for destructive regulatory competition will defeat regulatory reform.

The Harm of Regulatory Disharmony

Franchising poses particular regulatory challenges.

2.1 Legislative and regulatory provisions

regulatory compliance, fines and penalties

4. Legal and regulatory frameworks

Much has already been done to advance regulatory reform, notably the recent agreement to strengthen bank capital (Basel III). Yet we are far from having the supervision needed for proper implementation of the rules.

Alongside, the international community should consider ways to reduce the volatility of capital flows and avoid the Asian type of financial crisis through better international surveillance mechanisms, regulatory and prudential frameworks, and information dissemination.

The conclusion is clear the current regulatory system, characterized by a clear and rigid division of responsibility among its constituent bodies, is completely out of sync with China s rapidly growing, and increasingly integrated, capital markets. Yet, according to China s recently announced draft Internet finance regulations, the country s 1 3 regulatory model is to be retained.

At the regional and local levels, IFAD is helping to build a cadre of microfinance technical experts, strengthen training centres and promote sustained linkages to commercial capital, while seeking to ensure a favourable regulatory environment.

D. Regulatory activities of the judges

(i) National legislation, including regulatory measures

Table 1. Regulatory changes, 1991 1995

3. Total costs of regulatory compliance

C. Regulatory activity . 105 109 28

(a) Regulatory activities of the Prosecutor

The Handbook has no regulatory character.

Although it was essential to mobilize private capital, that was possible only if the appropriate regulatory framework and infrastructure were in place and if there was a prospect of earning a return on the funds invested.

The key is to reflect on six kinds of capital goods business capital, infrastructure, human capital, intellectual capital, natural capital, and social capital. All of these are productive, but each has a distinctive role.