Regulatory Dynamics And Cooperation In Cross-Border Financial Markets: A Focus On India And The United States Of America

Subhasis Maity, Amity Law School, Amity University, Kolkata

Roop Shankar Roy, Amity Law School, Amity University, Kolkata

ABSTRACT

The article explores the arena of the financial markets and provides for a comprehensive analysis of the cross-border dynamics involved with it, regulatory framework like the compliance and reporting and also the growing importance of the dispute resolution mechanism in fostering a stable and clean financial environment at large. It focuses on the dynamics of the financial markets with special focus on India and the United States of America. Furthermore, key regulatory bodies of both the nations are discussed there upon. India has its Securities Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) as their regulatory authorities and the US has Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) as their regulating bodies. Overall, the article describes the basis of cross-border financial market system, importance of compliance and reporting to promote fairness in the global financial system at large.

Keywords: cross-border dynamics, compliance, reporting, dispute resolution, Securities Exchange Board of India (SEBI), Reserve Bank of India (RBI), Foreign Account Tax Compliance Act (FATCA), Common Reporting Standard (CRS).