Law Reform and Financial Markets addresses how law reform can be used to support strong financial markets and draws on the global financial crisis as a case study.
This edited collection reflects recent developments, including the EU institutional reforms and the Dodd-Frank Act 2010. The different contributions adopt a range of theoretical, contextual and substantive perspectives, examine different domestic, regional and international contexts and assess public and private law frameworks in considering how legal and regulatory reforms can be most effectively designed for strong financial markets.
This comprehensive book will appeal to academics and postgraduates in the field of financial regulation and in cognate fields including finance and economics, as well as to regulators and policymakers.
PART I: REDESIGNING FINANCIAL REGULATION
1. The Rise, Fall and Fate of Principles-based Regulation
2. Policy Stances in Financial Market Regulation: Market Rapture, Club Rules or Democracy?
PART II: THE CHALLENGES OF CAPITAL MARKET LAW REFORM
3. The Vexed Issue of Short Sales Regulation when Prohibition is Inefficient and Disclosure Insufficient
4. Regulating Complex Derivatives: Can the Opaque be Made Transparent?
Michael A.H. Dempster, Elena A. Medova and Julian Roberts
5. The Role of Law and Governance in Financial Markets: The Case of the Emerging Chinese Securities Market
6. Of Corporations and Plumbers: Shareholder Voting Rights and
Securities Clearing and Settlement in Europe
PART III: CONSUMER AND DEPOSITOR PROTECTION
7. The Crash that Launched a Thousand Fixes: Regulation of Consumer Credit after the Lending Revolution and the Credit Crunch
Iain Ramsay and Toni Williams
8. Deposit Protection Schemes in British Offshore Finance Centres
PART IV: THE ROLE OF THE LENDER OF LAST RESORT AND EU SOVEREIGN DEBT RESTRUCTURING
9. Exigent and Unusual Circumstances: The Federal Reserve and the US Financial Crisis
Christian A. Johnson
10. Sovereign Debt Restructuring in the EU: Lessons from the Recent Crisis