Race To The Top: In A New Era

IFCs have been under immense pressure for the past two decades to introduce ever increasing regulation of their financial services industry. Whether this pressure has been politically motivated (lopsided pressure from the OECD or EU- based bodies) or genuinely required is up for debate. But the end result is that many of the mainstream IFCs have taken the view that keeping up with reasonable global regulatory standards is the only way to go.