Market-driven transparency
Much of the legislation written in response to the financial crisis is intended to force greater disclosure and increase transparency for both market participants and regulators. However, there may be a better way to achieve this critical objective, argues David Rowe
Transparency has been the abiding watchword throughout the financial crisis. Significant elements of legislation spawned by the crisis have been intended to force greater disclosure and improve the quantity and quality of the information available to market participants and especially to regulators. In virtually all the discussion over transparency, though, it has been assumed that information will always be hoarded by private actors and that only legal compulsion can change that. It is worth
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