Reform in older literature Reformation (reform, reformation)

A term frequently used in relation to the financial market, both in state laws and regulations, in the instructions and orders of supervisory authorities, and in related textbooks and practice. – In its original meaning, reform means intervening changes with the aim of restoring an initial state. – In a broader sense, reform is now understood to mean – blocking and correcting of occurred undesirable developments in the financial market as well as in the economy in general and/or – adaptation of financial services to new conditions and circumstances, such as payment via the Internet, but also – complete or fundamental restructuring and realignment of an area, such as occasionally currency reform or supervision in the euro area by the European Banking Authority. – See Banana Skins Survey, capital protection laws, regulatory pressure, regulatory frenzy, straitjacking, degree of transparency, overregulation.

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