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Dispatch → Bulletin → Campaign
by 
The Regional Nation of The Northern Light.
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72 reads.
Vote Against GA resolution Fair Depository Standards Act
Resolution Analysis
This resolution suffers somewhat from a rush to submission that prevented the proper vetting of some of its mandates. A few of the ideas suggested are incomplete, with no instruction as to how to carry them out effectively. For example, the resolution recommends a fixed capital reserve requirement for financial institutions. The resolution does not, however, provide the established Depository Regulators Committee (DRC) the ability to develop regulations that would harmonize how capital reserves should be calculated. Since there is no existing body in the WA to create such a regulation, and since there are innumerable jurisdictions, this creates a disconnect. The DRC is the enforcement agency, but there is no organization created through the resolution to draft the regulations themselves. Similarly, the resolution allows institutions to appeal DRC decisions around non-compliance, but there currently exists no WA organization to handle such appeals. The resolution doesn't make clear to whom appeals would be made and provides no instruction for the development of such a body. There are a few other structural issues of this nature, and, some important investment areas and institution types that probably should have been included as part of the resolution weren't. In general, there is a sense that the Act is somewhat incomplete, and some of its mandates fail to address the more complex aspects of finance and investment.
For this reason, The Ministry of World Assembly Affairs recommends a vote Against this proposal.
