‘Developing an effective framework is biggest challenge facing regulators’

Developing a coherent and effective framework is the biggest challenge facing regulators in the post-crisis environment, according to the new deputy governor of the Central Bank, Cyril Roux.

“Financial regulation has effects at a local level, national level, and international level,” he said.

“A common approach to regulation is needed for it to be effective. Restrictions on short-selling, high frequency trading, or large bonuses may or may not make sense, but in any case they make very little sense within the confines of a single jurisdiction.”