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SYNTHESIS
Linda Cenedella and Jon Roellke moderated the session.
Graciela Miralles opened the discussion by reflecting on the connection between financial regulation and antitrust enforcement from a World Bank point of view. The World Bank Group thinks about competition policy in a broad way, which encompasses fostering competition in emerging markets and defining the role of the State in developing it. On the other hand, the financial sector is a regulated sector by nature -the question being: how to regulate it without restricting competition more than necessary? Over-regulation can indeed create unnecessary burdens on market players. To refine regulation appropriately, impact assessment is a useful tool that is not so common in non-OECD member states.