Nuevas fórmulas de génesis y ejecución normativa en la globalización: el caso de la regulación de la actividad financiera.

Abstract

This study has had as its aim an analysis of the regulatory strategies of the financial activities sector in its capacity as a «reference sector» within what is increasingly refered to as «international» or «global» Administrative Law. Analyzing these regulatory strategies it is found that the gestation and implementation of legal standards in the financial activities sector is not limited to traditional legal and public administrative bodies, nor is it confined to tight National, Community, or International agreement. Policy production, rather, is seen to evolve out of an initial, international-stage of gestation, based mainly on selfregulation and the transnational cooperation of national authorities and moves into a secondary stage of public adoption, at the Community and Nation State level. Through this process, two of the most important current trends of Administrative Law regulating the financial activities sector are emerging; namely, the Europeanization and Internationalization of financial regulatory strategies and the opening-up of the Nation State to the construct of Self-regulation.