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The Regulatory Aftermath of the Global Financial Crisis

The Regulatory Aftermath of the Global Financial Crisis

Author: Eilís Ferran; Jennifer Hill; Niamh Moloney; John C. Coffee, Jr
Publisher: Cambridge University Press
ISBN: 9781107024595
Published In: November 2012
Format: Hardback , 424 pages
Jurisdiction: European Union, U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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The EU and the US responded to the global financial crisis by changing the rules for the functioning of financial services and markets and by establishing new oversight bodies. With the US Dodd–Frank Act and numerous EU regulations and directives now in place, this book provides a timely and thoughtful explanation of the key elements of the new regimes in both regions, of the political processes which shaped their content and of their practical impact. Insights from areas such as economics, political science and financial history elucidate the significance of the reforms. Australia's resilience during the financial crisis, which contrasted sharply with the severe problems that were experienced in the EU and the US, is also examined. The comparison between the performances of these major economies in a period of such extreme stress tells us much about the complex regulatory and economic ecosystems of which financial markets are a part.

• Detailed analysis of key regulatory and supervisory reforms in Europe, the United States and Australia facilitates an informed, real-world understanding of how financial regulation has been reshaped • Comparison of regulatory responses to the global financial crisis focuses on major developments and advances analysis of issues that are at the forefront of contemporary financial services regulatory policy • Assesses legal developments critically by reference to theoretical perspectives on financial regulation, thereby deepening and extending interdisciplinary scholarship

1. Crisis-driven regulatory reform: where in the world is the EU going?; 2. The legacy effects of the financial crisis on regulatory design in the EU; 3. Why did Australia fare so well in the global financial crisis?; 4. The political economy of Dodd–Frank: why financial reform tends to be frustrated and systemic risk perpetuated.

Eilís Ferran
University of Cambridge

Jennifer Hill
University of Sydney

Niamh Moloney
London School of Economics and Political Science

John C. Coffee, Jr
Columbia Law School, New York