FSF Report Shows Lack of Hard Law Standards and Enforcement of International Supervisory Standards (IIIB)

The publication on April 5, 2000 of the Financial Stability Forum’s Report of the Working Group on Offshore Centers and the subsequent decision to publish the results reflects a trend to try to implement and enforce soft law standards and develop those same standards into hard law for international financial supervisory mechanisms and a framework for the same. Indeed, the report is the start of a new, but important chapter that has significant implications for the enforcement of international financial crime…[more]