Question

International Stock Market Regulation: Do you think that developing economies should harmonize their regulatory systems or not? Why? What about developed economies? Why?

Answer 1

Harmonization is Global Standards that are widely accepted.It means that every country must share the ownership of an international standard, and every body should equally benefit from the international standards.

Yes developing country as wll as developed country should harmonize their regulatory systems the reason being All countries wether developing or developed must speak their requirements to the international discussion, at initial stage of development of the international standard for the discussion the only country that has technical/marketing advantage may take a leadership of the discussion and control of the resultant standards.Harmonisation is a very important factor in clinical trials and in Pharmaceutical industry.we needed harmonization in the interest of the patient and public to avoid unnecessary duplication without compromising the regulatory obligation of safety, quality and efficiency.

harmonisation leads to economical use of human, animal and material resources, and the elimination of unnecessary delay in the global development and availability of new medicines while maintaining safeguards on quality, safety and efficacy, and regulatory obligations to protect public health.