The financial system and its regulation have undergone exponential growth and dramatic reform over the last thirty years. This period has witnessed major developments in the nature and intensity of financial markets, as well as repeated cycles of regulatory reform and development, often linked to crisis conditions. The recent financial crisis has led to unparalleled interest in financial regulation from policymakers, economists, legal practitioners, and the academic community, and has prompted large-scale regulatory reform. The Oxford Handbook of Financial Regulation is the first comprehensive, authoritative, and state of the art account of the nature of financial regulation. Written by an international team of leading scholars in the field, it takes a contextual and comparative approach to examine scholarly, policy, and regulatory developments in the past three decades.
The first three parts of the Handbook address the underpinning horizontal themes which arise in financial regulation: financial systems and regulation; the organization of financial system regulation, including regional examples from the EU and the US; and the delivery of outcomes and regulatory techniques. The final three Parts address the perennial objectives of financial regulation, widely regarded as the anchors of financial regulation internationally: financial stability, market efficiency, integrity, and transparency; and consumer protection.
The Oxford Handbook of Financial Regulation is an invaluable resource for scholars and students of financial regulation, economists, policy-makers and regulators.
Eilis Ferran is Professor of Company & Securities Law at the University of Cambridge and the University JM Keynes Fellow in Financial Economics. She is also a Professorial Fellow of St Catharine's College, Cambridge. Since April 2012 she has been Chair of the Law Faculty at Cambridge. She is the author of Principles of Corporate Finance Law (second edition OUP 2014, with Look Chan Ho).
Niamh Moloney is Professor of Financial Markets Law at the London School of Economics and Political Science. She is the author of EU Securities and Financial Markets Regulation (third edition OUP 2014).
Jennifer Payne is Professor of Corporate Finance Law at the University of Oxford and a fellow and tutor at Merton College, Oxford. Her recent publications include Corporate Finance Law: Principles and Policy (Hart, 2011, with Louise Gullifer).
Part I. Financial Systems and Regulation
1: The Evolution of Theory and Method in Law and Finance, Simon Deakin
2: Economic Development, Financial Systems, and the Law, Colin Mayer
3: Financial Systems, Crises, and Regulation, Frank Partnoy
Part II. The Organization of Financial System Regulation
4: Institutional Design: The Choices for National Systems, Eilís Ferran
5: Institutional Design: The International Architecture, Christopher Brummer and Matt Smallcomb
6: Organizing Regional Systems: The EU Example, Brigitte Haar
7: Organizing Regional Systems: The US Example, Eric Pan
Part III. Delivering Outcomes and Regulatory Techniques
8: Regulatory Styles and Supervisory Strategies, Julia Black
9: The Role of Gatekeepers, Jennifer Payne
10: Enforcement and Sanctioning, Iain MacNeil
Part IV. Financial Stability
11: Systemic Risk and Macroprudential Supervision, Rosa Lastra
12: The Role of Capital in Supporting Financial Stability, Kern Alexander
13: Managing Risk in the Financial System, Peter O. Mülbert
14: Regulating the Insurance Sector, Michelle Everson
15: Crisis Management and Resolution, John Armour
16: Cross-Border Supervision of Financial Institutions, Douglas Arner
Part V. Market Efficiency, Transparency, and Integrity
17: Disclosure and Financial Market Regulation, Luca Enriques and Sergio Gilotta
18: Conduct of Business Regulation, Andrew Tuch
19: Regulating Financial Infrastructure, Guido Ferrarini and Paolo Saguato
20: Regulating Trading Practices, Andreas Fleckner
21: Supporting Market Integrity, Harry McVea
22: Regulating Financial Innovation, Emilios Avgouleas
VI. Consumer Protection
23: The Consumer Interest and the Financial Markets, Dimity Kingsford Smith and Olivia Dixon
24: Regulating the Retail Markets, Niamh Moloney