Forum. While the Brexit prepares, France aims to play its card by becoming a centre key of the finance. This economic issue, but also the fear of to a bursting of the next bubble, make crucial the role of the State as regulator and guarantor of the functioning of financial institutions. However, as the well know practitioners of this regulation, the tools of the State are far from being at the height of this mission, and there is an urgent need to change it.
One of the main difficulties of the development of the standard in economic and financial matters held in the necessary expertise. However, if this expertise does not exist in finite amount and can theoretically be acquired by all, it is clear that it is, in France at least, owned in large part by the “lobbies” financial, that is to say, by the associations, organisations and federations representing the interests of the financial industry – primarily banks and insurance companies, in particular with the public authorities.
The human and financial resources of these lobbies are to have nothing in common not only with those given to the representatives of other interests, such as associations of consumers or users, but also with those authorities to develop the regulation that they apply.
Items provided ” turnkey ”
For each area of financial regulation, one can estimate that, on average, an expert of the French administration has six or seven different interlocutors and specialized in the professional organisation in question. It is, in these conditions, very difficult for an expert audience to achieve the same level of knowledge that people in private and they are, therefore, better able to influence the public decision-making.
the degree of confidence in the answer provided by the lobby concerned is based almost exclusively…
