In the aftermath of crisis regulatory theory and practice has often moved progressively through solutions based on the practical and normative advantages of ‘governance,’ ‘responsibility,’ ‘integrity,’ and ‘accountability.’ At heart, therefore, effective accountability is a design question at corporate, professional and regulatory levels. Accountability can only be guaranteed if disputes over interpretation can be resolved in a manner that is proportionate, targeted, and, ultimately, conducive to the building of warranted trust in the operation of the financial services sector. The program of research explores the concept of accountability at both theoretical and practical levels. It assesses the impact of the Global Financial Crisis on both corporate governance and regulatory design.
The Joint Forum has released for consultation principles which provide national authorities, standard setters and supervisors with a set of internationally agreed principles that support consistent and effective supervision of financial conglomerates.
This new report from the Geneva Association looks at the relationship between insurance wind-downs and systemic risk, concluding that frameworks for dealing with such risks in banking would be a poor guide to necessary changes in insurance.
In response to investor feedback on the issue of pay-for performance, which indicated a preference for putting the focus on long-term alignment, board decision-making, and pay relative to both market peers and to absolute shareholder returns, Institutional Shareholder Services has published a white
The Bank for International Settlements has released a working paper on the sustainability of pension schemes, which suggests that changes in real returns have a disproportionate impact on service costs for pension schemes.
In a major new report King & Wood Mallesons find that codification of directors duties and widespread adoption of corporate governance codes is an increasingly global phenomenon that treats board members like infants.
Jordan, Cally. The wider context: The future of capital market regulation in the developed markets. Law and Financial Markets Review, Vol. 6, No. 2, Apr 2012: 130-135. Availability: <http://search.informit.com.au/documentSummary;dn=155649451124755;res=IELBUS>
Gleeson, Simon. Bank resolution and bail-ins in the context of bank groups. Law and Financial Markets Review, Vol. 6, No. 1, January 2012: 61-67. Availability: <http://search.informit.com.au/documentSummary;dn=155127727929525;res=IELBUS>
Al Elsheikh, Abdullah Abdullatef A and Tanega, Joseph. Sukuk Structure and Its Regulatory Environment in the Kingdom of Saudi Arabia. Law and Financial Markets Review, Vol. 5, No. 3, May 2011: 183-200.
Cejnar, Leela. After the Global Financial Crisis: Key Competition Law Developments in Australia, the United States, the EU and the UK. Law and Financial Markets Review, Vol. 5, No. 3, May 2011: 201-212. Availability: <http://search.informit.com.au/documentSummary;dn=090570168709996;res=IELBUS>
Salah, Omar. Islamic Finance: The Impact of the AAOIFI Resolution on Equity-based 'Sukuk' Structures. Law and Financial Markets Review, Vol. 4, No. 5, Sept 2010: 507-517. Availability: <http://search.informit.com.au/documentSummary;dn=398262109286787;res=IELBUS>
Chiu, Iris HY. Enhancing Responsibility in Financial Regulation - Critically Examining the Future of Public-private Governance: Part 1. Law and Financial Markets Review, Vol. 4, No. 2, Mar 2010: 170-188.
Athanassiou, Phoebus. Financial Rules: Why They Differ, Where We Got Them Wrong and How to Fix Them. Law and Financial Markets Review, Vol. 4, No. 3, May 2010: 279-285. Availability: <http://search.informit.com.au/documentSummary;dn=356505620697161;res=IELBUS>
Too big to fail or too hard to remember? Lessons from the New Deal on dealing with systemically important institutions
Author: O'Brien, Justin
Source: Law and Financial Markets Review, Volume 8, Number 3, September 2014, pp. 249-259(11)