Reflections on International Financial Standards as "Soft Law" PDF Download

Author: Mario Giovanoli
Publisher:
ISBN:
Category :
Languages : en
Pages : 34

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Author: Mario Giovanoli
Publisher:
ISBN:
Category : Financial institutions, International
Languages : en
Pages : 58

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Author: Chris Brummer
Publisher: Cambridge University Press
ISBN: 113950472X
Category : Law
Languages : en
Pages :

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Book Description
The global financial crisis of 2008 has given way to a proliferation of international agreements aimed at strengthening the prudential oversight and supervision of financial market participants. Yet how these rules operate is not well understood. Because international financial rules are expressed through informal, non-binding accords, scholars tend to view them as either weak treaty substitutes or by-products of national power. Rarely, if ever, are they cast as independent variables that can inform the behavior of regulators and market participants alike. This book explains how international financial law 'works' - and presents an alternative theory for understanding its purpose, operation and limitations. Drawing on a close institutional analysis of the post-crisis financial architecture, it argues that international financial law is often bolstered by a range of reputational, market and institutional mechanisms that make it more coercive than classical theories of international law predict.

Author: Iris H.-Y. Chiu
Publisher: Kluwer Law International B.V.
ISBN: 9041126686
Category : Law
Languages : en
Pages : 354

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Offers a new approach to the legal issues raised by the drive for convergence in securities regulation. The author offers an informed and insightful examination of the implications for regulatory and policy design if regulatory convergence were to be rigorously implemented.

Author: Friedl Weiss
Publisher: BRILL
ISBN: 9004280324
Category : Business & Economics
Languages : en
Pages : 446

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Book Description
The Changing Landscape of Global Financial Governance and the Role of Soft Law provides interdisciplinary perspectives on the changing landscape of global financial governance by exploring the impact and role of soft law, directly or as a precursor of hard law, pertaining to financial governance. Since the shaping of financial governance impacts national, regional and global levels of regulation, different views and arguments contribute to the ongoing discussions about financial regulation. Against this background, this book brings together perspectives of economists and lawyers who have not rallied to one or the other popular call for more regulation as a panacea for the prevention of future global financial crises, calls which have all but drowned out more nuanced scientific debates. Instead, their analysis of aspects of remedial regulatory policy prescriptions already made or proposed demonstrates that carefully designed soft law can be deployed as a valuable method or tool of mediation between the unrestrained autonomy of dysfunctional markets and overzealously crafted hard law.

Author: Kern Alexander
Publisher: Oxford University Press
ISBN: 0195166981
Category : Business & Economics
Languages : en
Pages : 329

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Book Description
The book sets forth the economic rationale for international financial regulation and what role, if any, international regulation can play in effectively managing systemic risk while providing accountability to all affected nations. The book suggests that a particular type of global governance structure is necessary to have more efficient regulation of the international financial system.

Author: Noah Vardi
Publisher: Routledge
ISBN: 1136847839
Category : Business & Economics
Languages : en
Pages : 205

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Book Description
The last decade has seen the increasing integration of European financial markets due to a number of factors including the creation of a common regulatory framework, the liberalisation of international capital movements, financial deregulation, advances in technology and the introduction of the Euro. However, the process of integration has proceeded largely in the absence of any comprehensive legal regulation, and has rather been constructed on the basis of sectorial provisions dictated by the needs of cross-border transactions. This has meant that many legal barriers still remain as obstacles to complete integration. This book considers the discipline of monetary obligations within the wider context of financial markets. The book provides a comparative and transnational examination of the legal rules which form the basis of transactions on financial markets. Analysing the integration of the markets from a legal point of view provides an opportunity to highlight the role of globalisation as the key element favouring the circulation of rules, models, and especially the development of new regulatory sources. The book examines market transactions and the institutes at the root of these transactions, including the type of legislative sources in force and the subjects acting as legislators. The first part of the book concentrates on the micro-discipline of money, debts, payments and financial instruments. The second part goes on to analyse the macro-context of integration of the markets, looking at the persistence of legal barriers and options for their removal, as well as the development of new legal sources as a consequence of the transfer of monetary and political sovereignty. Finally, the book draws links between the two parts and assesses the consequences of the changes at the macro-level of regulation on the micro-level of legal discipline of monetary obligations, particularly focusing on the emergence and growing importance of soft law.

Author: Dimitris Liakopoulos
Publisher: BRILL
ISBN: 9047431146
Category : Law
Languages : en
Pages : 248

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The major problem associated with the regulation of transnational mergers, which affect several national markets, is the allocation of jurisdiction. Each country concerned may wish to exert jurisdiction and apply its national competition law to regulate the anti-competitive effects a merger may have in its territory. However, this approach may lead to risks of inconsistent decisions regarding the legality of mergers. Indeed, the national competition laws applied by the regulating authorities may diverge in several aspects, which raise the likelihood of inconsistency. Therefore it is desirable to opt for regulatory approaches which are more sensitive to the transnational nature of mergers and which allow cooperation between competition authorities. A possible solution may be bilateral cooperation agreements through which two countries coordinate the enforcement activities of their national competition authorities. However, the benefits of these agreements are enjoyed only by the signatory parties. The sole reliance upon bilateral agreements does not appear to be the optimal regulatory approach towards transnational mergers.

Author:
Publisher:
ISBN:
Category : Cultural pluralism
Languages : en
Pages : 534

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Author: Junji Nakagawa
Publisher:
ISBN: 0199604665
Category : Business & Economics
Languages : en
Pages : 409

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Book Description
With the advancing globalization of the world economy, domestic economic regulations are becoming more and more subject to efforts at international harmonization. This book presents an analysis of this worldwide phenomenon from both a legal and a politico-economic perspective by focusing on (1) the backgrounds and objectives of international harmonization, (2) the negotiating processes involved, and (3) the impact of harmonization on domestic laws and their administration. International harmonization is discussed in a wide range of cases including trade-related regulations, technical standards and food safety standards, intellectual property rights, labour standards, competition law and policy, financial regulations, and regulations concerning transnational economic crime. Drawing on a wide range of materials and applying a unified analytical framework based on theoretical as well as practical observations, the book surveys this much debated topic in a comprehensive and accessible way. It thus contributes to a better understanding of both the chances and the challenges of globalization and global governance today.