Oxford Business Law Blog

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...

For about 50 years – at least since Texas Gulf Sulphur – the SEC has ordered defendants to disgorge their profits from transactions that violated the securities laws. Despite disgorgement’s long...

There are important behavioural reasons why financial consumers tend to make suboptimal financial decisions, and financial firms are often in a position to exploit them. So far, however, well-meaning...

In a recent European Corporate Governance Institute (ECGI) Working Paper I take an industrial organization perspective to explain the regulation of related party transactions in German corporate law...

Regulatory compliance. Required filings. Tax returns. Bored yet? The mere idea of following a complex set of government rules is enough to make human eyes glaze over. The task presents itself as the...

Policy-makers show an increasing interest in ‘nudges’ – behaviorally informed interventions that steer people in certain directions but that maintain freedom of consumer choice. Despite general...

A ‘black box’ can be described as a system in which the observable elements entail inputs and outputs, but without any understanding of its internal workings. In other words, the black box is opaque...

FinTech is rapidly transforming the financial services sector. Based on a broad range of different new technologies and innovations, it increasingly attracts the interest of national, global and...

Central securities depositories (CSDs) are of systemic importance for financial markets. In Europe, for instance, the European Association of CSDs (ECSDA) documented that in 2017 the total value of...