Committee mania, committee inflation, committeeism

Frequent complaint of the practice that in the financial sector in all areas official committees with employees who are extremely fond of worldwide traveling are active, and that these do not bring anything: “nothing but expenses” (it was a waste of time and effort) or – even worse – make decisions that make the business process on site more difficult. – On the other hand, the need for exchange of experiences is particularly great here, because the financial markets – are becoming more and more globally interconnected, – are in a constant state of change, and in the course of this, new financial products are constantly being created, – expert knowledge is being broken down into new special areas at the same time, that individuals and even authorities – such as the German Federal Financial Supervisory Authority (BaFin) – can no longer control on their own, and – that consumers’ associations are constantly calling for the public to be protected from incompetent and dishonest players and fraudulent business practices, which generally also requires close coordination between the supervisory professionals worldwide. – The extent to which specific committees are needed is very difficult to assess and is likely to remain contentious. – See deterrence, prudential, investor protection, supervision, supervisory avoidance, impact studies, banking supervision, European, Banana Skins Survey, money burning, Octopus, offshore financial centers, Peter Rule, regulatory arbitrage, regulatory pressure, regulatory frenzy, straitjacking, overregulation. – Cf. ECB Annual Report 2003, p. 187, BaFin Annual Report 2004, pp. 33 ff, p. 43 ff. (there also the term “committee architecture”), BaFin’s Annual Report 2005, p. 37 (overview of internationally active committees), BaFin’s Annual Report 2009, p. 35 (overview of international committees), as well as the respective BaFin Annual Report, chapter “International Affairs,” ECB Annual Report 2012, p. 177 (the ECB’s committees multiply in exemplary fashion only in arithmetical order), and the respective ECB Annual Report, chapter “Institutional Framework and Organization.”

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/