Mark Mobius, a fund manager with Franklin Templeton, told Citywire that recent cases, as well as incidents such as the Enron collapse, highlight the fact that lapses in corporate governance are not confined to developing economies.
He added that in some cases, there have been "dramatic" breakdowns in oversight, pointing to the Madoff affair, where money manager Harry Markopolos provided the Securities and Exchange Commission with a dossier entitled 'The World's Largest Hedge Fund is a Fraud' in 2005 - but the regulator never followed up on its allegations.
To guard against future scandals, Mr Mobius called for a more integrated approach to provide better surveillance of managers and firms.
"We really have a regulatory problem that has to be solved - there must be unification," he commented.
Franklin Templeton manages assets worth Â£269.9 billion ($403.5 billion) for more than 22 million clients.