Italy's Draghi on regulation of financial markets

In the speech 'Measures for the protection of savings and the regulation of financial markets' given on 26 September Mario Draghi of the Bank of Italy said the quality of financial regulation is gauged by its effectiveness in preventing improper conduct, protecting investors against uninformed risk-taking, and averting systemic crises.

"With today's increasingly complex financial markets and financial products, it would be illusory to pursue these objectives by means of ever-more detailed and

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