# kaal:claim:2273857-053

**Claim.** The core problem for financial regulation is timing: governance improvements are not enacted before crises when they are most needed, because the collective action problem makes financial regulation mostly reactive and tied to business cycles.

**Type.** failure  **Support.** argued

**Source quote.**

> A core problem for financial regulation is its timing. Governance improvements are not enacted when they are most needed - before crises. Rather, because of the collective action problem, financial regulation is mostly reactive, following business cycles.

**From.** Wulf A. Kaal, *Dynamic Regulation of the Financial Services Industry* (2013), III.2.b Anticipatory Sine Curve, page 26

**Cite as.** Wulf A. Kaal, Dynamic Regulation of the Financial Services Industry (2013). SSRN: https://ssrn.com/abstract=2273857

**Verify.** sha256 of source PDF `e7cb3dea40593135acc99a9b00690138fe01020514ebf388f5140e1b0e59e82a` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202013%20-%20Dynamic%20Regulation%20of%20the%20Financial%20Services%20Industry.pdf

**Failure mode.** regulatory timing failure  (family: regulatory-lag)

**Topics.** institutional-design, regulatory-failure

**Keywords.** regulatory-timing, collective-action-problem, reactive-regulation, regulatory-failure

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/2808132-034
- extended_by: https://wulfkaal.github.io/claims/2740477-030
- restated_by: https://wulfkaal.github.io/claims/kaal-2014-dynamicregulationviagove-008
- extended_by: https://wulfkaal.github.io/claims/2740477-028

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.