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10 - Can the Twin Peaks Model of Financial Regulation Serve as a Model for Israel?

from Part III - Different Topographies

Published online by Cambridge University Press:  24 June 2021

Andrew Godwin
Affiliation:
Melbourne Law School
Andrew Schmulow
Affiliation:
University of Wollongong, Australia
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Summary

In recent years, a number of proposals were put forward to change the financial regulatory model in Israel. One proposal called for the adoption of the single regulatory model, and for the establishment of one financial regulatory agency. In contrast, in 2015, the Israel Securities Authority called for the adoption of the Twin Peaks model, under which the Securities Authority would serve as the conduct-of-business regulator, and would oversee consumer protection issues for the entire financial system. To date, these proposals have not materialised in practical initiatives. This chapter examines whether, and to what extent, the Twin Peaks model of financial regulation can serve as a model for Israel.

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Publisher: Cambridge University Press
Print publication year: 2021

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