利用者:加藤勝憲/金融規制
| 金融 |
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 カテゴリ |
| 金融サービスに関連するテンプレート |
| 銀行業 |
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金融規制とは、金融機関を一定の要件、制限、ガイドラインに従わせる規制または監督の一形態であり、金融システムの安定性と完全性を維持することを目的としている。これは政府または非政府組織によって処理される。金融規制は、利用可能な金融商品の多様性を高めることによって、銀行セクターの構造にも影響を与えている。金融規制は、金融法の内容を構成する3つの法的カテゴリーの1つであり、他の2つは市場慣行と判例法である。
Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the stability and integrity of the financial system. This may be handled by either a government or non-government organization. Financial regulation has also influenced the structure of banking sectors by increasing the variety of financial products available. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices and case law.
History
[編集]
- Bank regulation
- Finance
- Template:Slink
- Financial ethics
- Financial regulation in India
- Financial repression
- Global financial system
- Group of Thirty
- Insurance law
- International Organization of Securities Commissions
- International Centre for Financial Regulation
- LabEx ReFi - European Laboratory on Financial Regulation
- Macroprudential regulation
- Microprudential regulation
- Regulatory capture
- Regulatory economics
- Securities commission
- Template:Slink
- Virtual currency law in the United States
近現代において、オランダは金融規制の先駆者であった。[2] 空売りを禁止する(規制する)最初の記録は、1610年には早くもオランダ当局によって制定されていた。
In the early modern period, the Dutch were the pioneers in financial regulation. The first recorded ban (regulation) on short selling was enacted by the Dutch authorities as early as 1610.
Aims of regulation
[編集]金融監督当局の目的は、通常次の通りである:[1]
- market confidence – to maintain confidence in the financial system
- financial stability – contributing to the protection and enhancement of stability of the financial system
- consumer protection – securing the appropriate degree of protection for consumers.
Structure of supervision
[編集]法律は、政府機関や非政府機関に、活動を監視し、行動を強制する権限を与える。[4] 世界中の金融規制構造には、さまざまな仕組みや組み合わせがある。[5][6]
Acts empower organizations, government or non-government, to monitor activities and enforce actions.[2] There are various setups and combinations in place for the financial regulatory structure around the globe.[3][4]
Supervision of stock exchanges
[編集]取引所行為は、取引所フロアでの取引が適切な方法で行われることを保証する。最も重要なのは、価格設定プロセス、取引の執行と決済、直接かつ効率的な取引監視である。[7][8]
Exchange acts ensure that trading on the floor of exchanges is conducted in a proper manner. Most prominent the pricing process, execution and settlement of trades, direct and efficient trade monitoring.[5][6]
Supervision of listed companies
[編集]金融規制当局は、上場企業および市場参加者が取引法に基づく各種規制を遵守していることを確認する。取引法は、上場企業に対して定期的な財務報告書、臨時通知、または取締役の取引の公表を義務付けている。一方、市場参加者は主要株主通知の公表が義務付けられている。上場企業による情報開示要件の遵守状況を監視する目的は、投資家が上場企業およびその証券について十分な情報を得た上で評価を行うために必要な、重要かつ十分な情報を入手できるようにすることである。[9][10][11]
Financial regulators ensure that listed companies and market participants comply with various regulations under the trading acts. The trading acts demands that listed companies publish regular financial reports, ad hoc notifications or directors' dealings. Whereas market participants are required to publish major shareholder notifications. The objective of monitoring compliance by listed companies with their disclosure requirements is to ensure that investors have access to essential and adequate information for making an informed assessment of listed companies and their securities.[7][8][9]
Supervision of investment management
[編集]資産管理の監督または投資行為は、それらの車両の円滑な運用を保証する。[12]
Asset management supervision or investment acts ensures the frictionless operation of those vehicles.[10]
Supervision of banks and financial services providers
[編集]銀行法は、銀行が設立される際、および業務を遂行する際に遵守すべき規則を定めている。これらの規則は、銀行システムの円滑な機能を妨げる可能性のある望ましくない事態の発生を防ぐことを目的としている。これにより、強固で効率的な銀行システムの確保が図られる。[13][14]
Banking acts lay down rules for banks which they have to observe when they are being established and when they are carrying on their business. These rules are designed to prevent unwelcome developments that might disrupt the smooth functioning of the banking system. Thus ensuring a strong and efficient banking system.[11][12]
Authority by country
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以下は、さまざまな管轄区域における規制当局の簡単なリストである。より完全なリストについては、国別の金融規制当局のリストを参照のこと。
The following is a short listing of regulatory authorities in various jurisdictions, for a more complete listing, please see list of financial regulatory authorities by country.
- United States and its territories
- U.S. Securities and Exchange Commission (SEC)
- Financial Industry Regulatory Authority (FINRA)
- Consumer Financial Protection Bureau (CFPB)
- Commodity Futures Trading Commission (CFTC)
- Federal Reserve System ("Fed")
- Federal Deposit Insurance Corporation (FDIC)
- Office of the Comptroller of the Currency (OCC)
- National Association of Insurance Commissioners (NAIC) (a State-based regulatory standards organization, the McCarran–Ferguson Act exempts the "business of insurance" from most regulation at the Federal level)
- National Credit Union Administration (NCUA)
- United Kingdom
- Bank of England (BoE)
- Prudential Regulation Authority (PRA)
- Financial Conduct Authority (FCA)
- Financial Services Agency (FSA), Japan
- Federal Financial Supervisory Authority (BaFin), Germany
- Autorité des marchés financiers (France) (AMF), France
- Monetary Authority of Singapore (MAS), Singapore
- Hong Kong Monetary Authority (HKMA), Hong Kong
- Swiss Financial Market Supervisory Authority (FINMA), Switzerland
- People's Republic of China
- China Banking Regulatory Commission (CBRC)
- China Insurance Regulatory Commission (CIRC)
- China Securities Regulatory Commission (CSRC)
- India:
- Reserve Bank of India (RBI)
- Securities and Exchange Board of India (SEBI)
- Insolvency and Bankruptcy Board of India (IBBI)
- Insurance Regulatory and Development Authority of India (IRDAI)
- Pension Fund Regulatory and Development Authority (PFRDA)
Unique jurisdictions
[編集]In most cases, financial regulatory authorities regulate all financial activities. But in some cases, there are specific authorities to regulate each sector of the finance industry, mainly banking, securities, insurance and pensions markets, but in some cases also commodities, futures, forwards, etc. For example, in Australia, the Australian Prudential Regulation Authority (APRA) supervises banks and insurers, while the Australian Securities and Investments Commission (ASIC) is responsible for enforcing financial services and corporations laws.
Sometimes more than one institution regulates and supervises the banking market, normally because, apart from regulatory authorities, central banks also regulate the banking industry. For example, in the USA banking is regulated by a lot of regulators, such as the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the National Credit Union Administration, as well as regulators at the state level.[14]
In the European Union, the European System of Financial Supervision consists of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA) as well as the European Systemic Risk Board. The Eurozone countries are forming a Single Supervisory Mechanism under the European Central Bank as a prelude to Banking union.
There are also associations of financial regulatory authorities. At the international level, there is the International Organization of Securities Commissions (IOSCO), the International Association of Insurance Supervisors, the Basel Committee on Banking Supervision, the Joint Forum, and the Financial Stability Board, where national authorities set standards through consensus-based decision-making processes.[15]
The structure of financial regulation has changed significantly in the past two decades,[いつ?] as the legal and geographic boundaries between markets in banking, securities, and insurance have become increasingly "blurred" and globalized.[要出典]
Regulatory reliance on credit rating agencies
[編集]Think-tanks such as the World Pensions Council (WPC) have argued that most European governments pushed dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of EU-based financial institutions, to rely more than ever on the standardized assessments of credit risk marketed by two private US agencies- Moody's and S&P, thus using public policy and ultimately taxpayers’ money to strengthen an anti-competitive duopolistic industry.
関連項目
[編集]
- Bank regulation
- Finance
- Template:Slink
- Financial ethics
- Financial regulation in India
- Financial repression
- Global financial system
- Group of Thirty
- Insurance law
- International Organization of Securities Commissions
- International Centre for Financial Regulation
- LabEx ReFi - European Laboratory on Financial Regulation
- Macroprudential regulation
- Microprudential regulation
- Regulatory capture
- Regulatory economics
- Securities commission
- Template:Slink
- Virtual currency law in the United States
出典
[編集]関連文献
[編集]- Labonte, Marc. (2017). Who Regulates Whom? An Overview of the U.S. Financial Regulatory Framework. Washington, D.C.: Congressional Research Service.
- Reinhart, Carmen; Rogoff, Rogoff (2009), This Time is Different: Eight Centuries of Financial Folly, Princeton U. Pr., ISBN 978-0-691-15264-6
- Simpson, D., Meeks, G., Klumpes, P., & Andrews, P. (2000). Some cost-benefit issues in financial regulation. London: Financial Services Authority.
外部リンク
[編集]- Securities Lawyer's Deskbook from the University of Cincinnati College of Law
- Ana Carvajal, Jennifer Elliott: IMF Study Points to Gaps in Securities Market Regulation
- IOSCO: Objectives and Principles of Securities Regulation (PDF-Datei 67 Seiten)
[[Category:金融法]] [[Category:未査読の翻訳があるページ]]
- ^ UK FSA statutory objectives, (2016-04-20), オリジナルの2017-07-07時点におけるアーカイブ。 2012年8月21日閲覧。
- ^ De Caria, Riccardo (2011-09-23), What is Financial Regulation Trying to Achieve?, Riccardo De Caria, SSRN 1994472
- ^ Luxembourg CSSF structure and organisation
- ^ German BAFin supervision organisation, オリジナルの2012-08-04時点におけるアーカイブ。
- ^ Suisse finma stock exchange supervision
- ^ German BAFin stock exchange supervision, オリジナルの2012-07-22時点におけるアーカイブ。
- ^ Finland FSA supervion of listed companies, オリジナルの2012-10-12時点におけるアーカイブ。 2012年8月5日閲覧。
- ^ Saudi Arabia market supervision, オリジナルの2013-05-18時点におけるアーカイブ。 2012年8月5日閲覧。
- ^ Borsa Italiana listed stock supervision[リンク切れ]
- ^ US SEC Division of Investment Management
- ^ Reserve Bank of India, Department of Banking Supervision
- ^ Luxembourg CSSF Supervision of Banks, オリジナルの2016-03-05時点におけるアーカイブ。 2012年8月5日閲覧。
- ^ Works. “This Time is Different - A Book by Carmen M. Reinhart and Kenneth S. Rogoff”. reinhartandrogoff.com. Template:Cite webの呼び出しエラー：引数 accessdate は必須です。
- ^ “list of state banking authorities”. State Banking Authorities. Consumer Action Website. August 5, 2011閲覧。
- ^ Prabhakar, Rahul (1 June 2013). Varieties of Regulation: How States Pursue and Set International Financial Standards. Oxford University GEG. SSRN 2383445.