Competition

Co-operation between Competition Agencies and Regulators in the Financial Sector: 10 years on from the Financial Crisis

 

 4 December 2017  Paris

In the aftermath of the global financial crisis, an international consensus emerged that financial institutions should be regulated more strongly to improve their resilience. Indeed the OECD suggested that in order for the benefits of competition to flow through the whole market, an appropriate regulatory and competitive framework for the financial sector must be identified and implemented. In doing so, it said that where appropriate, competition within the financial sector should be encouraged, facilitated and protected. However, it also acknowledged that competition in the absence of adequate regulation could be problematic. It therefore suggested that close co-operation between competition and regulatory authorities, including prior consultation on relevant decisions, is needed to deliver policy objectives in the financial sector. 

In December 2017, 10 years after the global financial crisis began to unfold, the OECD held a roundtable discussion, using the specific experiences of agencies, to look at what has happened and ask whether financial regulators and competition agencies have successfully co-operated to implement a regulatory and competitive framework that works for consumers by delivering a stable system in which innovative and efficient firms can thrive.

This page contains all related materials and papers.

Access the full list of Competition Policy Roundtables.

DECEMBER 2017 SESSION DOCUMENTATION

 

PANELLISTS 

Prof. Martin HELLWIG [Bio]
Director, Max Planck Institute for Research on Collective Goods presenting
Competition policy and sector-specific regulation in the financial sector

 

Dr. Miguel de la MANO [Bio]
Executive Vice President , Compass Lexecon

Prof. Paul GROUT 
Bank of England

 

KEY DOCUMENTS

» BACKGROUND PAPER by E. Carletti and A. Smolenska

» NOTE DE RÉFÉRENCE par E. Carletti and A. Smolenska

» SUMMARIES of contributions from participants

CONTRIBUTIONS FROM PARTICIPANTS

» SUMMARIES of contributions from participants

Argentina

Australia

Canada

Denmark

EU

Finland

Hungary

India

Israel

Italy

Lithuania  

Mexico

Netherlands

Norway

Portugal

Romania

Singapore

South Africa

Spain

Sweden

Ukraine

United Kingdom

United States

   

BEST PRACTICE COMPETITION ROUNDTABLES

Disruptive innovation in financial markets (2015) 

Competition issues in the financial sector (2011)

Competition and payment systems (2012)

Role of competition in financial consumer protection (2011)

Regulated conduct defence (2011)

Competition, concentration and stability in the banking sector (2010)

Exit strategies (2010)

Competition and credit rating agencies  (2010)

Competition and financial markets (2009)

The failing firm defence (2009)

Competition and regulation in retail banking (2006)

 

» Access the full list of Competition Policy Roundtables

» Link to the  OECD Competition Home Page 

DOCUMENTS AND LINKS

Financial consumer protection

Financial regulation after the crisis: still liberal, but… (OECD Insights)

Bank competition and bank supervision (2016) Link to an external site icon

Supervisory and regulatory issues that merit Authorities' attention (2017) Link to an external site icon

 

 

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