By Mattoo A. (ed.), Sauvé P. (ed.)
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3. As noted previously, distinctions between subordinate and legislative measures may vary among WTO members in view of their differing legal and constitutional systems. 4. It may also be interesting to consider discrimination between stakeholders at the national level, such as between producer and consumer groups. 5. Note that this process is not limited to parliamentary systems. In Mexico both branches can propose draft legislative measures and the executive branch can conduct prior consultation before the measures are submitted to the legislative branch.
Stiglitz, Joseph E. 1999. K. 25 ----- ADDRESSING REGULATORY DIVERGENCE THROUGH INTERNATIONAL STANDARDS: FINANCIAL SERVICES Joel P. 4 work program in order to discipline national regulation of financial services. One alternative is to defer to other organizational structures, including plurilateral or multilateral functional organizations such as the Basel Committee, the International Association of Insurance Supervisors (IAIS), the International Organization of Securities Commissions (IOSCO), or the Organisation for Economic Co-operation and Development (OECD); international financial organizations such as the International Monetary Fund; or regional organizations such as the European Community (EC) or the North American Free Trade Agreement.
The disciplines could, for example, (a) be formulated as general objectives, allowing maximum flexibility for implementation in line with level of development and existing administrative and regulatory systems; (b) build to the greatest extent possible on existing domestic structures and practices; or (c) include appropriate exceptions and carve out subnational-level measures. Special and differential treatment for developing countries might also be considered-for example, through longer transition periods, a requirement that members consider another member's level of development and administrative capacity when interpreting "a reasonable period," or a "peace clause" subsequent to the implementation deadline.
Domestic Regulation and Service Trade Liberalization by Mattoo A. (ed.), Sauvé P. (ed.)