Author : Jason Campbell Sharman
Publisher : Commonwealth Secretariat
ISBN 13 : 9780850928747
Total Pages : 224 pages
Book Rating : 4.9/5 (287 download)
Book Synopsis Considering the Consequences by : Jason Campbell Sharman
Download or read book Considering the Consequences written by Jason Campbell Sharman and published by Commonwealth Secretariat. This book was released on 2008 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: What have been the consequences of recent regulatory initiatives on international financial centers in small countries? This study of three small Commonwealth countries--Barbados, Mauritius and Vanuatu--suggests that the costs of implementing these new standards have exceeded any identifiable benefits for the countries concerned. The main factor explaining the adoption of the new standards, in all three countries, is the fear of being blacklisted by international organizations in the event of non-compliance, rather than any identified benefit in terms of increased competitiveness. The authors consider how policy on anti-money laundering should be developed in the future, taking into account the particular concerns of small developing countries. The book will be of interest to all those engaged in setting international standards for financial regulation, and those regulating the finance industry in both large and small countries.