Second, the structural aspects of regulation are presented encompassing the reasons for recent interest in the subject, pros and cons of single versus multiple regulators, the international experience and the developing countries’ perspective. Third, the current status of the regulatory structure. Fourth, the contours of the current debate on the subject. Fifth part, the issues for consideration.
It is argued that the historical context, the state of development of financial markets and the level of skills available should be considered in making a choice. It is also argued that apart from single and multiple regulators, hybrid arrangements can be explored to suit the requirements of our country.