Regulating financial activities versus regulating entities


March 11, 2021, 9:00 AM to 10:00 AM EST
Virtual Event

Nicolas Véron (PIIE), Fernando Restoy (Bank for International Settlements) and Anna Gelpern (PIIE; Georgetown University Law Center)

Event Summary

For decades, innovations in financial services and techniques have been eroding the traditional boundaries between subsectors within the financial industry, such as those between banks, insurers, and other financial firms. This trend has accelerated with the entry of “fintech” start-ups and “big tech” platforms into the financial services space. As a consequence, public authorities have debated the respective merits of regulating activities (“same activity, same regulation”) against regulating entities (such as prudential requirements for banks). The recent contribution to that debate by Fernando Restoy of the Bank of International Settlements will serve as a starting point for discussion.

Joining this episode of Financial Statements were:


Nicolas Véron, Senior Fellow, Peterson Institute for International Economics (PIIE)


  • Fernando Restoy
    Chairman, Financial Stability Institute, Bank for International Settlements
  • Anna Gelpern
    Nonresident Senior Fellow, PIIE; Anne Fleming Research Professor, Georgetown University Law Center



About This Series

Financial Statements is a biweekly virtual event series hosted by Nicolas Véron that explores changes in the world of finance, encompassing themes of financial services regulation, corporate finance and governance, systemic fragility and crises, and structural changes driving business and policy trends in the financial sector.