Oxford Business Law Blog

How do securities regulators react to changes in market conditions? Zingales argues in ‘The Future of Securities Regulation’ that after a stock market downturn, regulation and therefore investor...

Resolution planning remains the key legislative framework in Europe to resolve failing banks outside of ordinary insolvency proceedings, which are ill-suited to address the complexity of systemic...

Initial coin offerings (ICOs) may be a significant innovation in entrepreneurial finance. Blockchain-based digital assets offer cryptographic security and credible commitment devices, which may...

The ostensive watchdogs of market disclosure have become poster boys for corporate chicanery, argues Karthik Ramanna of Oxford’s Blavatnik School. Auditors are in the business of trust. But in the...

In the aftermath of the 2008 financial crisis, Western financial markets saw the introduction of comprehensive regulatory reforms, most of them with an increased focus on financial stability. At the...

In practice, the same investment firms and credit institutions are acting as a custodian for discretionary mandates and ‘execution only’ services under MiFID II and CRD IV, a depositary under the...

How to master the profusion of financial regulation, let alone comply with it, is one of the most pressing issues faced by the financial sector today. An important part of the answer is RegTech:...

Retail banking in the UK is undergoing profound changes partly as a result of regulatory interventions such as Open Banking, a remedy imposed by the Competition and Markets Authority (CMA) which came...

My article offers a normative behavioural finance analysis of the marketing communications regime in Europe’s new Markets in Financial Instruments Directive (MiFID II). The article aims to bridge the...

Whether London will remain the centre for European financial transactions will depend on its access to the Single Market. Under the current circumstances, nobody can predict either what the legal...

Since the disgrace of Lehman, the question of how to handle failing SIFIs has been quite vexed. On the one hand, governmental rescue of shareholders and other investors is beyond annoying, and there...

Security interests are the building blocks of modern, credit-based economies, and a key component in the quest to promote economic development and sustainable growth. They provide lenders with rights...

The vulnerabilities in the wholesale funding and in particular short-term (overnight) repurchase agreement (repo) markets were significant sources of systemic risk in the Global Financial Crisis (GFC...

As shown by the law and finance literature, most Latin American companies have concentrated ownership structures with controlling shareholders (La Porta et al, 1998, 1999). As a result, the primary...

On May 24, 2018, President Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act (Reform Act), which, among other things, amended securities law provisions focused...

The MiFID II inducements regime is complex and can cause confusion. MiFID II contains a number of inducements requirements, including rules relating to conflicts of interest, research, hospitality,...

The stock markets of Hong Kong and Singapore are characterised by companies with concentrated shareholdings. In addition, they routinely attract issuers whose assets and businesses are located...

Internationally driven secured transactions law reforms and globally harmonized prudential regulation set the normative premises sustaining the creation of credit in modern economies. Under the...

In my latest article, available on SSRN, I discuss the application of Regulation (EU) No 1286/2014 ‘on key information documents for packaged retail and insurance based investment products (PRIIPs)’...

In November 2012, the EU Regulation on Short Selling (SSR) was introduced in the European Union. The SSR mandates that short sellers disclose short positions to authorities, beginning at 0.2% and...