Tuesday 18 May 2010 at 17:00

Senior Practitioner Lectures in Law & Finance
The Future of Financial Regulation: The Role of Courts

Speaker: Jeffrey Golden, London School of Economics and Political Science/Allen & Overy LLP

Venue: Oxford Law Board Room

The recent financial crisis has given rise to considerable discussion and debate about the role of financial market regulation in the mitigation of systemic risk, but little attention has been paid to our courts and their preparedness to deal with complex product litigation and financial market disputes. In fact, financial market disputes are becoming increasingly complex, the amounts at stake are considerable and the volume of cases is rising. Trading based on standard contracts and terms means that a wrong decision from a court can give rise to a systemic consequence. Indeed, the wider market may have a greater interest in the outcome of a case than do the parties which are litigating the matter. Unfortunately, there are impediments making it difficult for relevant background from such a global and dynamic marketplace to make its way into the proceedings. Concerns are growing that the present, decentralised way of adjudicating financial market disputes is unnecessarily slow, expensive and unpredictable, and failing to produce a settled and authoritative body of relevant law. As a result, there is impetus to think more creatively about dispute settlement in the global financial markets and ways to ensure a ready supply of competent jurists equipped to handle effectively the cases arising.

For more information please contact: Dan Awrey

Interested in this subject? View our Law and Finance page.

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