Arbitraż nadzorczy na rynku usług finansowych – identyfikacja zjawiska
Supervisory arbitrage at the financial services market – the phenomenon identification

Summary/Abstract: The study identifies and characterizes the phenomenon of supervisory arbitrage at the financial services market. Basic relations between regulatory and supervisory arbitrage were discussed based on the distinguishing criteria (advantages in using differences between markets, origins motive, the motive of “hard” or “soft” approach to the supervision process occurrence). The scope of supervision authority operations entitlement, competencies and intensity determines this phenomenon scale and taking advantage of differences in supervisory restrictiveness level is, on the one hand, perceived as a natural phenomenon and, to a certain extent, understandable, however, on the other it may exert a negative impact on financial markets functioning, which has also been mentioned.

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