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International Regulatory Co-operation: Case Studies, Vol. 2

Canada-US Co-operation, EU Energy Regulation, Risk Assessment and Banking Supervision

image of International Regulatory Co-operation: Case Studies, Vol. 2

The world is becoming increasingly global. This raises important challenges for regulatory processes which still largely emanate from domestic jurisdictions. In order to eliminate unnecessary regulatory divergences and to address the global challenges pertaining to systemic risks, the environment, and human health and safety, governments increasingly seek to better articulate regulations across borders and to ensure greater enforcement of rules. But, surprisingly, the gains that can be achieved through greater co-ordination of rules and their application across jurisdictions remain largely under-analysed.

 

This volume complements the stocktaking report on International Regulatory Co-operation: Rules for a Global World by providing evidence on regulatory co-operation in the framework of the Canada-U.S. Regulatory Cooperation Council, as part of EU energy regulation, under the Global Risk Assessment Dialogue, and in the area of prudential regulation of banks. The four case studies provided in this volume follow the same outline to allow for comparison.

English

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European Union energy regulation

Energy networks within the EU have historically been constructed and operated on a national basis by vertically integrated monopolies, usually in full or partial state ownership, with the state’s interest exercised either by central or regional governments. The EU’s interest in enhancing co-operation and integration of EU-wide energy networks has grown since the 1980s. EU policy was initially focused primarily on economic objectives of liberalisation and the development of an efficient internal market. However, the objectives have broadened over the last ten years to encompass issues of environmental sustainability and security of supply. This case study shows how co-operation on energy regulation has evolved over the years to become increasingly formalised and legally binding.

English

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