From March 3 to March 5, 2010, the German Association for Law and Society and the University of Bremen hosted a Conference on "Transnationalism in Law, State and Society". Part of this conference was a panel on transnational financial markets regulation. The aim of this panel was to ask some...

International financial relations have largely been defined by cross-border trade, foreign direct investments, and global banking relations. This paper demonstrates that another activity, sovereign investments by special vehicles known as sovereign wealth funds, is rapidly redefining the...

This article aims to identify and examine the key issues impacting China’s financial regulation in light of the recent global financial crisis (GFC). The investigation generates a number of important findings. First, the effects of the GFC on China’s financial system have been relatively...

This paper examines the implications for the traditional "legal bonding" hypothesis arising from future "reverse" cross-listings, meaning the cross-listing by issuers from jurisdictions with stronger investor protections into capital markets and on exchanges where investor protections are deemed...

I examine the financial and real effects of regulatory integration of international capital markets using a unique policy plan by the European Union, which creates a common European market for financial services and capital, through, e.g., passporting rights. For identification, I exploit the...

Multiple shocks have led regulators and policy makers to put increasing faith in the diagnostic and prophylactic powers of international financial standards, but the nature, appropriateness and normative force of such standards varies. As a standard setter, the International Organization of...

The global financial crisis has cast a strong light on some hitherto obscure corners of the financial world, provoking an outpouring of calls for concerted international action. “Hard law” having disappointed, can “soft law”, in the form of international financial standards, substitute...

This response to the 2009 UK White Paper on ‘Reforming Financial Markets' argues for stronger democratic oversight of regulators and for regulatory diversity in order to reduce ‘market herding' and the consequent systemic risks. In the context of hitherto weak democratic accountability and...

Finance has become more a problem than a solution to what the world most wants: socially inclusive growth. It has become a source of crises that threaten the development of the real economy. It has escaped accountability to democratic institutions and often helped, instead, to influence and...