Reconceptualizing the Regulation of Global Finance.
The post-crisis reforms to the global financial system may serve us well if the next crisis is 2008 revisited. But it will not be. So instead of preparing to fight the last war, this paper analyses the five major changes in the global financial system in the past 40 years, and explores potential reg...
| Publicado en: | Oxford Journal of Legal Studies Vol. 36; no. 2; pp. 242 - 272 |
|---|---|
| Autor principal: | |
| Formato: | Artículo |
| Publicado: |
Oxford University Press / USA
Summer2016
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=115992413&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 115992413 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 01436503 BJ4 jtl: Oxford Journal of Legal Studies issn: 01436503 maglogo: N pubinfo: dt: Summer2016 vid: 36 iid: 2 pid: 622 pub: Oxford University Press / USA artinfo: ui: 115992413 10.1093/ojls/gqv023 ppf: 242 ppct: 30 formats: fmt: @attributes: type: P size: 635KB tig: atl: Reconceptualizing the Regulation of Global Finance. aug: au: Buckley, Ross P. affil: CIFR King & Wood Mallesons Professor of International Finance Law, Scientia Professor, and Member, Centre for Law Markets and Regulation, UNSW Australia su: International finance laws International banking industry laws High-frequency trading (Securities) Financial crises Securities industry laws Rating agencies (Finance) Dark pools (Economics) History Law sug: subj: International finance laws International banking industry laws High-frequency trading (Securities) Financial crises Securities industry laws Rating agencies (Finance) Dark pools (Economics) History Law keyword: bank capital bank levies financial gambling global financial regulation ratings agencies transactions tax ab: The post-crisis reforms to the global financial system may serve us well if the next crisis is 2008 revisited. But it will not be. So instead of preparing to fight the last war, this paper analyses the five major changes in the global financial system in the past 40 years, and explores potential regulatory responses that could make the system more stable and resilient. These changes include (i) the globalisation of the global financial system; (ii) the legalisation of financial gambling; (iii) the rise in algorithmic and high frequency trading and in dark pools; (iv) the fundamental changes in banks and bankers; and (v) the rise in the role and power of ratings agencies. The potential responses to these changes include (i) a sovereign bankruptcy regime; (ii) higher mandated capital levels for banks; (iii) levies on banks; (iv) a financial transactions tax; (v) rigorous regulation of high frequency trading and dark pools; and (vi) removing the conflict in the role of the ratings agencies. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y custom: © 2019 Oxford University Press. item: Oxford Journal of Legal Studies holder: Oxford University Press / USA dt: @attributes: year: 2016 holdings: @attributes: islocal: N |
|---|