“…The rapid development of the financial system has led to structural reforms of financial regulators, which also include financing issues (Holland, 2009;Palepu, et al 2008), security issues (Davidaviciene, et al 2019) as well as role of the government in financial sector development (Cooray, 2011;Christensen and Laegreid, 2011;Novoa and Seeling, 2009;Qiao, 2013), having very big importance on public sector accountability, experience and reputation (Schillermans, 2016;Bovens, et al 2014), taking into account that very important is the qualification and experience of the staff (Raudeliuniene and Szarucki, 2019;Holland, 2019) and taking into account and serious consideration that there is a very big influence of globalisation and digital economy (Zekos, 2003;Preda, 2005).…”