Oxford Business Law Blog

In Lawmaking without Law: How Overreliance on Economics Fails Financial Regulation, we argue that lawmakers increasingly overrely on economists and economic scholarship when designing financial...

In November, the European Banking Authority (EBA) issued a Discussion Paper on Machine Learning for IRB Models. As described therein, the aim of the Discussion Paper ‘is to understand the challenges...

In our new article (forthcoming in the European Business & Organization Law Review) we analyze the (revised) EU strategy on sustainable finance announced in two steps in April and July 2021. We...

In my article Tribes and Temperaments: Two Underappreciated Determinants of Market Actor Behavior, Motivations and Beliefs, prepared for a volume on Hidden Fallacies in Corporate Law and Financial...

There is an ongoing debate among regulators and investors on the risks posed by climate change to the financial services industry and potential adverse effects on systemic stability. One source of...

To shed light on the role that academic research plays in the Securities and Exchange Commission’s (SEC) rulemaking, we examine the SEC’s patterns of consumption of academic research from 2007...

To the surprise of many, the pandemic accelerated interest in ESG (Environment, Social and Governance) issues in 2020. As BlackRock pointed out in its last CEOs’ letter, ‘From January through...

This post is based on a chapter in my forthcoming book, Regulating the Crypto-economy (Hart Publishing). A brief introduction to the book sets the context for the arguments made in the chapter...

Since the global financial crisis of 2008, macroprudential housing-finance tools (MPTs) have been increasingly utilized to reduce financial system vulnerabilities related to housing market imbalances...

In our recent article, entitled ‘Relief and Rescue During the Covid-19 Pandemic: Financial Regulatory Suspensions in the UK’ (Stanford International Policy Review) and its shorter version, entitled ‘...

In the United States, supervision is as old as banking, or nearly as old. State governments developed oversight regimes in the 1830s, and the federal government has played a permanent supervisory...

In 2002, the European legislature considered that a legal framework to facilitate financial collateral transactions such as repurchase agreements (repos), securities lending and derivatives would ‘...

Short selling is a controversial investment tool. There seems to be a deeply ingrained view that short sellers are mere speculators whose aim is to mercilessly bring down otherwise sound companies to...

Financial regulation is commonly associated with a set of ex ante rules imposed by government on the financial sector in the public interest and accompanied by mechanisms of public supervision and...

In its Financial Stability Report for the year, the Reserve Bank of India cautioned that there ‘is no room for complacency on cyber security’. The central bank’s warning is timely. The Indian...

September 2020 was the warmest month on record worldwide. For the first time in recorded history, the main nursery of Arctic sea ice has failed to freeze by late October. In recent years alone, we...

Fintech’s reach has been steadily expanding India, with a proliferation of intermediaries, particularly in the payments and lending spheres. While not wholly devoid of activity, the digital banking...

In the past years, Initial Coin Offerings (ICOs) have become an important fundraising method for many individuals and firms. While most regulators, academics and policymakers around the world have...

Banks became major participants in US securities markets twice in the past century—during the 1920s and after the mid-1990s. Both times, banks with ‘universal banking’ powers originated risky loans...

Founded in Germany in 1999, Wirecard AG (‘AG’ is a public limited company formed in Germany) operated in the digital payment segment of the FinTech sector. The shares of Wirecard were listed in the...