haku: @indexterm FINANCIAL REGULATION / yhteensä: 40
viite: 26 / 40
| Tekijä: | Gregorcic, L. |
| Otsikko: | Financial laws as a form of governmental regulation of national financial markets |
| Lehti: | Bancni vestnik
1995 : VOL. 44:9, p. 22-27 |
| Asiasana: | FINANCIAL INSTITUTIONS FINANCIAL MARKETS DEVELOPMENT FINANCIAL REGULATION LEGISLATION COUNTRY COMPARISONS |
| Kieli: | slv |
| Tiivistelmä: | Financial markets. which play a key role in market economies, are strongly affected by the state and its legislation what regards their growth and development.The state controls the economic segments and has, through a system of financial laws. a decisive role in market operations, in the developed countries financial legislation is adjusted to the development of financial markets, since rigid and obsolete legislation has a negative impact on financial conditions.The author claims that by the mentioned legislation countries wish to prevent frauds and counterfeits, enhance competition, ensure stability of financial institutions, protect the interests of domestic financial institutions and further economic activities.This is the reason why these countries also require of those who issue securities to reveal their financial information to the public.It is illegal to profit from the so called inside information, which is sanctioned by law.Financial institutions and foreign partners are expected to follow the rules of the game.The state pays special attention to the banking and monetary legislation, by which it regulates the amount of money in circulation.In the article the legal arrangement of financial markets in the U.S.A., Japan, Germany and Great Britain are analyzed.The author quotes some international theoreticians and argues that the economic success of the Japanese and German economies derives from the capital and credit connections between banks and companies.At the same time the author emphasizes that the Japanese and German systems too have some weaknesses and that the concept of universal banking prevents the development of the financial market and forces the state into debt with banks only.The interest of those is to earn the highest possible interest and dividend, which is, as a rule, against the interest of companies. |
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