Regulators want necessary rulemaking to be made easier and
would like their own accountability to be broadened.
In the final panel of the International Organization of
Securities Commissions (Iosco) conference in Montreal
yesterday, regulators complained that laws are built to
encourage the status quo. Rules have to be justified against
costs and benefits. To even collect the necessary data to make
a decision means having to go through lots of hurdles to get
It is much easier not to do something, than it is to
do something. It takes real political will and a deep
commitment to furthering the structure and integrity of our
markets, said Mary Schapiro, Chairman of the US
Securities and Exchange Commission (SEC).
I wonder if we have the balance right? We have to
justify every single thing we do on the assumption that