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Costs and benefits of adopting and implementing new international standards for the operation and regulation of the international financial services sector in Vanuatu

Bois-Singh, Sunita (2008) Costs and benefits of adopting and implementing new international standards for the operation and regulation of the international financial services sector in Vanuatu. Journal of the South Pacific Law, 12 (1). pp. 17-38. ISSN 1684-5307

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Abstract

Vanuatu’s International Finance Centre (IFC) started in 1969 on the advice of the British government when it was still a Condominium. By 1970 and early 1971 a full offshore regime was legislated. This paper is in three parts. Part 1 of this paper discusses the International Financial Services (IFS) Sector, its origins and development in Vanuatu and its importance to the economy. Part 2 deals with the regulation and supervision of the IFS Sector, in particular the structure of IFS, the regulation and supervision bodies in Vanuatu and the emergence/evolution of the Post-2000 regulatory regime for the IFS. Part 3 discusses the incremental costs of adopting new international regulatory standards, the incremental benefits of enhanced IFS regulation and supervision, and the overall assessment of net benefits accruing from adoption of new international regulatory standards and strengthened regulatory regime. The paper then draws conclusions and addresses future implications of the current international regulatory initiatives imposed on the IFS sector.

Item Type: Journal Article
Subjects: K Law > K Law (General)
Divisions: Faculty of Arts, Law and Education (FALE) > School of Law
Depositing User: Ms Neha Harakh
Date Deposited: 11 Jan 2008 13:05
Last Modified: 09 Jul 2012 16:46
URI: http://repository.usp.ac.fj/id/eprint/84
UNSPECIFIED

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