This Article reviews the historical background of the Glass-Steagall Act of 1933 along with the developments in the markets that led to the Gramm-Leach-Bliley Act of 1999. It analyzes the discussions on the Volcker Rule in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010...

The alleged manipulation of the London Interbank Offered Rate (LIBOR) by large number of banks is currently under investigation by regulators in Europe and the US. Various lawsuits are adding to the evidence of LIBOR rigging that first emerged from a settlement between Barclays Bank and the...

International finance law keeps the tradition of “soft law” standards even after the 2008 financial crisis. This status quo derives from concerns over sovereignty and regulatory uncertainty. Although soft law has merits in pragmatic rule making and flexible rule implementation, soft law is...

Based on the sensitivity of the European Financial Markets highlighted by the last financial crisis, the European Union is pushing for reforms of the existing regulatory framework and has also proposed a Financial Transaction Tax. Until now, the European Union has already adopted a Regulation on...

Deference mechanisms, such as substituted compliance and equivalence, serve important purposes: They open up markets to foreign service providers, avoid double regulation, and reduce market fragmentation. Yet, their current design also has considerable weaknesses. The biggest of these is that...