Best Practices Guide and Recommendations for the Regulation and Supervision of Financial Conglomerates

In recent decades an important change has been witnessed in the development of the financial system at the global level. Said change has been characterized by an increasing movement toward consolidation as well as by the internationalization of operations and a high level of innovation in the financial system. During the eighties and nineties, Latin America experienced a liberalization process in its financial and capital markets, resulting in the access of foreign banks to the Region, as well as the participation of banking entities in activities related to securities and insurance markets, asset management, and equity participation in non-financial entities.