UK Parliamentary Group Calls for Evidence on Microfinance Regulation

The All-Party Parliamentary Group on Microfinance has called for evidence from the public on whether and how to regulate microfinance. I've you've got something to say about this, tell them. The deadline is 16 days from now, August 27.I'm not sure how to make react. The call for evidence focuses on how governments in developing countries should regulate microfinance. So the role of the UK government in this matter would be indirect. In 2003, CGAP released excellent consensus guidelines for regulation and supervision of microfinance, which taught me pretty much everything I know about the subject. I'm told the guidelines are being revised now. As noted in the call for evidence, the Alliance for Financial Inclusion seems to be doing a good job of helping officials from developing countries learn from each other on these themes.The fresher issue, it seems to me, and one where the UK government is more central, is how microfinance investment intermediaries ought to be regulated or prodded to self-regulate. Some of the intermediaries must be based in London and operate under UK law. Many others operate under the law of the Netherlands or Luxembourg, where the Parliament could also exercise influence by building consensus among peers. What the ideal regulation would amount to in practice, I don't know, which is actually why it's what I'd want to investigate. The status quo does not seem optimal.