The regulatory design and goals of civil liability in EU securities regulation after the global financial crisis: trends and perspectives

2020 ◽  
pp. 160-180
Author(s):  
Federico Della Negra
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Civil Liability ◽  
Securities Regulation ◽  
Regulatory Design ◽  
The Global Financial Crisis

scholarly journals Principles-Based Securities Regulation in the Wake of the Global Financial Crisis

2010 ◽  
Vol 55 (2) ◽  
pp. 257-307 ◽  
Author(s):  
Cristie Ford
Keyword(s):  
Financial Crisis ◽  
Financial Markets ◽  
Global Financial Crisis ◽  
Conflicts Of Interest ◽  
Securities Regulation ◽  
Access To Information ◽  
Critical Factors ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Financial Markets Regulation

The recent global financial crisis contains cautionary lessons about the risks associated with principles-based regulation when it is not reinforced by an effective regulatory presence. Our response to the crisis, however, should not be a rush to enact more rules-based regulatory approaches. On the contrary, principles-based securities regulation offers more viable solutions to the challenges that such a crisis presents for contemporary financial markets regulation. The author draws on the lesson of the global financial crisis to identify three critical factors for effective principles-based securities regulation. First, regulators must have the necessary capacity in terms of numbers, access to information, and expertise in order to act as an effective counterweight to industry. Second, regulation needs to grapple with the impact of complexity on financial markets and their regulation. Third, increased diversity among regulators and greater independence from industry are required to avoid conflicts of interest, overreliance on market discipline, and “groupthink”. The paper calls for a continuing commitment to principles-based regulation, accompanied by meaningful enforcement and oversight.

Regulatory Cooperation in Securities Market Regulation: Perspectives from Australia

2020 ◽  
Vol 17 (1) ◽  
pp. 11-34
Author(s):  
Jennifer G. Hill
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Mutual Recognition ◽  
International Standards ◽  
Securities Regulation ◽  
Market Regulation ◽  
Regulatory Cooperation ◽  
Mutual Recognition Agreement ◽  
The Global Financial Crisis ◽  
Supranational Regulation

The global financial crisis highlighted the interconnectedness of international financial markets and the risk of contagion it posed. The crisis also emphasized the importance of supranational regulation and regulatory cooperation to address that risk. Yet, although capital flows are global, securities regulation is not. As a 2019 report by IOSCO notes, the regulatory challenges revealed during the global financial crisis have by no means dissipated over the last decade. Lack of international standards, or differences in the way jurisdictions implement such standards, can often result in regulatory-driven market fragmentation. This article considers a range of cooperative techniques designed to achieve international regulatory harmonization and effective financial market supervision. It includes discussion of a high profile cross-border supervisory experiment, the 2008 US-Australian Mutual Recognition Agreement, which was the first agreement of its kind for the SEC. The article also examines some key regulatory developments in Australia and Asia since the time of the US-Australian Mutual Recognition Agreement.

On the formation of a New Paradigm of fiscal Policy

2013 ◽  
pp. 152-158 ◽  
Author(s):  
V. Senchagov
Keyword(s):  
Public Finance ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Domestic Demand ◽  
Real Economy ◽  
New Paradigm ◽  
Monetary Aggregate ◽  
The Past ◽  
The Global Financial Crisis

Due to Russia’s exit from the global financial crisis, the fiscal policy of withdrawing windfall spending has exhausted its potential. It is important to refocus public finance to the real economy and the expansion of domestic demand. For this goal there is sufficient, but not realized financial potential. The increase in fiscal spending in these areas is unlikely to lead to higher inflation, given its actual trend in the past decade relative to M2 monetary aggregate, but will directly affect the investment component of many underdeveloped sectors, as well as the volume of domestic production and consumer demand.

ASPEK ETIK DAN SISTEMIK DALAM EKONOMI DAN BISNIS ISLAM

ALQALAM ◽  
2014 ◽  
Vol 31 (1) ◽  
pp. 187
Author(s):  
Budi Harsanto
Keyword(s):  
Financial Crisis ◽  
Business Ethics ◽  
Moral Hazard ◽  
Global Financial Crisis ◽  
Financial Institution ◽  
Research Question ◽  
Academic Journals ◽  
Lehman Brothers ◽  
The World ◽  
The Global Financial Crisis

The fall of Enron, Lehman Brothers and other major financial institution in the world make researchers conduct various studies about crisis. The research question in this study is, from Islamic economics and business standpoint, why the global financial crisis can happen repeatedly. The purpose is to contribute ideas regarding Islamic viewpoint linked with the global financial crisis. The methodology used is a theoretical-reflective to various article published in academic journals and other intellectual resources with relevant themes. There are lots of analyses on the causes of the crisis. For discussion purposes, the causes divide into two big parts namely ethics and systemic. Ethics contributed to the crisis by greed and moral hazard as a theme that almost always arises in the study of the global financial crisis. Systemic means that the crisis can only be overcome with a major restructuring of the system. Islamic perspective on these two aspect is diametrically different. At ethics side, there is exist direction to obtain blessing in economics and business activities. At systemic side, there is rule of halal and haram and a set of mechanism of economics system such as the concept of ownership that will early prevent the seeds of crisis. Keywords: Islamic economics and business, business ethics, financial crisis 

Mobilising resiliency in times of economic hardship: Emerging themes in migrant worker remittance payments

2014 ◽  
Vol 7 (2) ◽  
pp. 159-167
Author(s):  
Kevin Garlan
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Migrant Worker ◽  
Economic Hardship ◽  
Priority Areas ◽  
Mobile Payments ◽  
Payment Methods ◽  
The Future ◽  
Emerging Themes ◽  
The Global Financial Crisis

This paper analyses the nexus of the global financial crisis and the remittance markets of Mexico and India, along with introducing new and emerging payment technologies that will help facilitate the growth of remittances worldwide. Overall resiliency is found in most markets but some are impacted differently by economic hardship. With that we also explore the area of emerging payment methods and how they can help nations weather this economic strife. Mobile payments are highlighted as one of the priority areas for the future of transferring monetary funds, and we assess their ability to further facilitate global remittances.

The Pandemic Exposes an Ailing US Governance Model

2020 ◽  
Vol 119 (820) ◽  
pp. 310-316
Author(s):  
Alasdair Roberts
Keyword(s):  
Financial Crisis ◽  
Developing World ◽  
Global Financial Crisis ◽  
Political Polarization ◽  
Washington Consensus ◽  
The Past ◽  
Governance Model ◽  
Governance Challenges ◽  
The Global Financial Crisis ◽  
Current Governance

Since the 1990s and Bill Clinton’s embrace of key parts of Ronald Reagan’s legacy, mainstream US governance has been guided by a bipartisan consensus around a formula of shrinking the federal government’s responsibilities and deregulating the economy. Hailed as the ultimate solution to the age-old problem of governing well, the formula was exported to the developing world as the Washington Consensus. Yet growing political polarization weakened the consensus, and in a series of three major crises over the past two decades—9/11, the global financial crisis, and the COVID-19 pandemic—US policymakers opted for pragmatism rather than adherence to the old formula, which appears increasingly inadequate to cope with current governance challenges.

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