Oxford Business Law Blog

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  • Financial Regulation
14 Jan 2021
3 min to read

Beware of the Spider: Exchange Traded Funds and the Short-Sale Ban

Egle Karmaziene | Valeri Sokolovski

ETFs, broadly defined as exchange-traded portfolios of assets, have proven to be among the most successful financial innovations of recent history. Since the introduction of the first ETF in the...

OBLB categories

  • Financial Regulation
03 Jun 2020
4 min to read

Democratic Illusion and Capitalist Cynicism

Jacques Attali

At a time when increasingly populist leaders rule over a substantial part of the planet, in the rare places where they do not, some citizens are under the illusion that they may regain control over...

OBLB categories

  • COVID-19
  • Commercial Law
18 May 2020
4 min to read

Singapore Acts to Temporarily Suspend the Enforcement of Certain Contracts During the Economic Storm Caused by the Coronavirus Outbreak

Alexander Loke

Extraordinary circumstances attract extraordinary measures. The COVID-19 (Temporary Measures) Act passed by the Singapore Parliament on 7 April 2020 will stand out as one such measure in these...

OBLB categories

  • COVID-19
  • Commercial Law
  • Financial Regulation
17 Apr 2020
3 min to read

How Is the Market for Cryptocurrencies Affected by the Coronavirus and Why Should We Care?

Hadar Jabotinsky | Roee Sarel

The Covid-19 pandemic is one of the toughest challenges the world has ever faced. What started as a local crisis in China has since spread worldwide—drastically changing life everywhere. Schools,...
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OBLB categories

  • COVID-19
  • Commercial Law
  • Corporate Finance
  • Corporate Governance
  • Financial Regulation
13 Apr 2020
1 min to read

The COVID-19 Pandemic and Business Law: A Series of Posts from the Oxford Business Law Blog

OBLB Editors

The COVID-19 Pandemic is the biggest challenge for the world since World War Two, warned UN Secretary General, António Guterres, on 1 April 2020. Millions of lives may be lost. The threat to our...

OBLB categories

  • COVID-19
  • Commercial Law
  • Financial Regulation
08 Apr 2020
7 min to read

A Response to Eidenmüller’s Defense of Regulatory Competition in the Fight against COVID19

Marco Ventoruzzo

In a recent post on the OBLB, Horst Eidenmüller argues that it is (or might be) desirable that states put forward different regulatory responses—for example with respect to containment measures—to...
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OBLB categories

  • COVID-19
  • Commercial Law
  • Financial Regulation
31 Mar 2020
8 min to read

The Race to Fight COVID-19: On the Desirability of Regulatory Competition

Horst Eidenmüller, St Hugh's College

Jurisdictions worldwide struggle with the COVID-19 pandemic. The two key policy goals are, first, to contain the spread of the virus to protect lives and, second, to minimize the damage to the...

OBLB categories

  • Corporate Finance
  • Corporate Governance
31 Mar 2020
2 min to read

Post–Crisis Corporate Culture and Governance In Banking

Anjan Thakor

The 2007-09 financial crisis exposed numerous vulnerabilities of the financial system stemming from unprecedented (idiosyncratic) failures within individual financial institutions that collectively...
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OBLB categories

  • COVID-19
  • Commercial Law
  • Corporate Finance
23 Mar 2020
5 min to read

COVID-19: A Global Moratorium for Corporate Bonds?

Kristin van Zwieten, Harris Manchester College | Horst Eidenmüller, St Hugh's College | Luca Enriques, Faculty of Law

The alarming prospect of widespread defaults by economically viable firms has prompted various proposals for assistance from states. Access to new finance can be facilitated by the state guaranteeing...

OBLB categories

  • COVID-19
  • Corporate Finance
  • Financial Regulation
13 Mar 2020
4 min to read

Should We Ban Short Sales in a Stock Market Crash?

Marco Pagano

Few things are more predictable than loud demands for regulatory interventions to ‘stop speculation’ when stock market prices plunge: in these days, as in any recent stock market crash, we hear...

OBLB categories

  • Corporate Finance
  • Corporate Governance
  • Financial Regulation
18 Oct 2019
7 min to read

The Valuation and Governance Bubbles of Silicon Valley

Jesse Fried | Jeffrey Gordon, Faculty of Law

The rise and fall of The We Company IPO bubble is one of those events that, like the subprime mortgage bubble that preceded the financial crisis, calls for an examination of market structures that...

OBLB categories

  • Commercial Law
  • Corporate Finance
  • Financial Regulation
21 May 2019
3 min to read

Accounting for Financial Stability: Lessons from the Financial Crisis and Future Challenges

Jannis Bischof | Christian Laux | Christian Leuz

The 2008 financial crisis set off a major debate about the role of accounting for financial stability. Politicians, policymakers and commentators were quick to point to fair-value or mark-to-market...

OBLB categories

  • Financial Regulation
25 Feb 2019

The ‘Too Big to Fail’ Problem

Saule Omarova

‘Too big to fail’—or ‘TBTF’—is a popular metaphor for a core dysfunction of today’s financial system: the recurrent pattern of government bailouts of large, systemically important financial...

OBLB categories

  • Corporate Finance
  • Financial Regulation
12 Feb 2019

In Two Minds: The Governance of Ring-Fenced Banks

Thom Wetzer, Faculty of Law

A keynote policy of UK financial regulation since the financial crisis has been the ‘ring-fencing’ of retail banks into separate and independently operated entities, so-called ‘ring-fenced bodies’ (...

OBLB categories

  • Financial Regulation
15 Nov 2018

Ten years After the Financial Crisis: 'We Are Safer, But Not As Safe As We Should and Could Be'

Thom Wetzer, Faculty of Law | Jure Jeric | Alexandra Zeitz

The bankruptcy of Lehman Brothers, now ten years ago, was neither the start nor the peak of the financial crisis. Yet, the demise of the iconic investment bank, the fourth-largest in the United...

OBLB categories

  • Financial Regulation
13 Nov 2018

The choice between judicial and administrative sanctioned procedures to manage liquidation of banks: A transatlantic perspective

Jens-Hinrich Binder | Mike Krimminger | Maria Nieto | Dalvinder Singh

Following the great financial crisis in 2008, preventing future bail-outs for large, systemically important banks while minimizing the repercussions of bank insolvencies on the stability of the...
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OBLB categories

  • Financial Regulation
09 Feb 2018

Central banks, systemic risk and financial sector structural reform

Saule Omarova

After the 2008 financial crisis, safeguarding financial stability became an integral part of central banks’ mandate, alongside their traditional task of ensuring monetary stability. The renewed...

OBLB categories

  • Corporate Governance
08 Feb 2018

Wells Fargo’s Board Members Are Getting Off Too Easily

Lawrence Summers

A question I am asked as frequently as any other is: 'Why didn’t anyone go to jail for the financial crisis?' There was huge suffering, sufficient misbehavior that the largest banks had to pay well...

OBLB categories

  • Corporate Finance
  • Corporate Governance
  • Financial Regulation
  • M&A
17 Nov 2017

Lobbying on the Sale of Failed Banks

Deniz Igan | Thomas Lambert | Wolf Wagner | Quxian Zhang

The aftermath of the financial crisis revealed failures and gaps in regulatory actions. In particular, regulators have been criticized for serving special interests—not only of the banks they...
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OBLB categories

  • Corporate Governance
  • Financial Regulation
28 Apr 2017

Bankruptcy’s Three Ages

Mark J. Roe

Embedded in the American Bankruptcy Code are three decision-making methods—administration, a deal among existing creditors, and a sale of the firm intact. The Code’s text and intent privilege a deal...

OBLB categories

  • Financial Regulation
27 Apr 2017

Wells Fargo and the Failure of Boards and Regulators

ProMarket Writers

In September 2013, on the fifth anniversary of the peak of the 2008 financial crisis, The Economist decided that one of the interesting ways to revisit the crisis was by focusing on its “winner”:...

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