This special issue demonstrates the importance of interactions in transnational business governance. The number of schemes applying non-state authority to govern business conduct across borders has vastly expanded in numerous issue areas. As these initiatives proliferate, they increasingly...

The financial crisis has prompted a number of fundamental questions, not least of which is the relationship between financial institutions and regulators. In particular, the reputation of principles based regulation (PBR), lauded as a key example of ‘new governance’ techniques of regulation...

Since their inception, public lawyers and political scientists have fulminated at the lack of accountability of regulatory agencies. But, though it may surprise their critics, regulatory agencies do not go out of their way to be unaccountable. The difficulties of accountability, this article...

This article demonstrates the value of studying interactions in transnational business governance (TBG) and proposes an analytical framework for that purpose. The number of TBG schemes involving non-state authority to govern business conduct across borders has vastly expanded in a wide range of...

Regulatory disasters are catastrophic events or series of events which have significantly harmful impacts on the life, health or financial wellbeing of individuals or the environment. They are caused, at least in part, by failures in, or unforeseen consequences of, the design and /or operation...

In the wake of the financial crisis, significant questions have been raised as to the appropriateness of the economic conception of markets and of behaviour that has for the last few decades dominated policy makers in financial regulation. In response, some regulators are starting to revise...

The financial crisis has required the state, not just in the UK, to intervene in the financial markets to an extent that is unprecedented. This paper focuses on the management of the crisis and its aftermath in the UK, focusing on the constitutional dimension. The financial crisis did not cause...

How to ensure, in democratic states, that those to whom power has been delegated act in line with constitutional norms and values is a perennial, and much explored, question. This article suggests that in analysing how constitutional actors seek to govern regulatory institutions we should...

Risk-based regulation tends to direct concerns towards higher risks but low risks present a number of challenges for regulators. The latter have to justify the level of attention they pay to such risks; they have to deal with different kinds of low risks and they have to decide which tools to...

It is said that ‘generals fight the last war'. Regulators can do the same. The question is whether in the plethora of reforms that are being developed, the financial regulators are building the regulatory equivalent of the Maginot Line or whether they are devising strategies that will enable...