Guernsey Finance Chief Executive Dominic Wheatley
told the Guernsey Funds Forum event in London that a new report on
a model for financial services regulation post-Brexit is good news
for the island.
In advance of our Funds Forum event I read the IEA discussion
paper – Improving Global Financial Services Regulation. This
paper, written by Shanker Singham and Catherine McBride, provides a
detailed and comprehensive analysis of how the UK can lead the
world in developing a more efficient international regulatory
framework post-Brexit.
This, they argue, must balance the traditional aims of financial
stability and investor protection with the need to encourage and
facilitate the competition that will not restrict growth and
innovation. Their view is that current global regimes are too
focused on market stability rather than access and competition. The
aim should be to produce the most competitive markets possible,
consistent with reasonable prudential goals.
