The Regulatory Aftermath of the Global Financial Crisis

Provides an unrivalled understanding of major regulatory reforms that will profoundly affect the future of finance.

Eilís Ferran (Author), Niamh Moloney (Author), Jennifer G. Hill (Author), John C. Coffee, Jr (Author)

9781107024595, Cambridge University Press

Hardback, published 15 November 2012

432 pages, 1 table
22.9 x 15.2 x 2.4 cm, 0.75 kg

'This ambitious collection brings coherence to the multifaceted and complex regulatory responses to the global financial crisis. With contributions from many of the leading scholars of international finance, The Regulatory Aftermath [of the Global Financial Crisis] portrays institutional reforms that are simultaneously massive and fluid. The volume reveals a new financial architecture built upon major national reforms within a significantly more interconnected system of cross-border supervisory coordination. An invaluable roadmap for academics, policy makers, and practitioners.' Howell E. Jackson, James S. Reid, Jr, Professor of Law, Harvard University

The EU and the US responded to the global financial crisis by changing the rules for the functioning of financial services and markets and by establishing new oversight bodies. With the US Dodd–Frank Act and numerous EU regulations and directives now in place, this book provides a timely and thoughtful explanation of the key elements of the new regimes in both regions, of the political processes which shaped their content and of their practical impact. Insights from areas such as economics, political science and financial history elucidate the significance of the reforms. Australia's resilience during the financial crisis, which contrasted sharply with the severe problems that were experienced in the EU and the US, is also examined. The comparison between the performances of these major economies in a period of such extreme stress tells us much about the complex regulatory and economic ecosystems of which financial markets are a part.

1. Crisis-driven regulatory reform: where in the world is the EU going?
2. The legacy effects of the financial crisis on regulatory design in the EU
3. Why did Australia fare so well in the global financial crisis?
4. The political economy of Dodd–Frank: why financial reform tends to be frustrated and systemic risk perpetuated.

Subject Areas: Company, commercial & competition law [LNC], Comparative law [LAM], Law [L]