Institutional investors in developed markets originated before financial sector-specific law and regulation had developed to any great extent. As problems arose as these developed – such as those during and after the Wall Street Crash of 1929 – law and regulation developed to address these.
In emerging markets, as in developed markets, occasionally crises arise which demonstrate the need for reform; or markets fail to fulfil the role expected of them, and it is necessary to identify why and what can be done.
In Tanzania, Cadogan Financial undertook a study of the legal, regulatory and operational framework of the pension fund sector and made recommendations for reform, including drafting a new legal framework.
In India, Cadogan Financial undertook a study of the legal, regulatory and operational framework of the mutual fund sector and made recommendations for reform, including rationalisation of rules and regulations and circulars and introduction of corporate trustees.
