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  • Financial Regulation
11 Jan 2022
3 min to read

More JoMo Less FoMo: The Case for Voluntary Disclosure of Uncertain Information in Securities Regulation

Ido Baum | Dov Solomon

Securities regulation is one of the most harmonized fields of business law. Observing disclosures about cross-border transactions between public corporations traded in the United States and the...

OBLB categories

  • Competition/ Antitrust
  • Financial Regulation
05 Jan 2022
6 min to read

Regulation is Coming for the Digital Transformation

David S. Evans

Over the coming months, years, and decades the digital transformation will raise questions as to whether we need new laws and regulations, should modify existing ones, or do nothing at all. Much of...

OBLB categories

  • Financial Regulation
20 Dec 2021
3 min to read

Lawmaking without Law: How Overreliance on Economics Fails Financial Regulation

Steven L. Schwarcz | Theodore L. Leonhardt

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...

OBLB categories

  • Financial Regulation
14 Dec 2021
3 min to read

Muddy Waters’ Answers to ESMA’s Consultation on the European Short Selling Regime

Carson Block

Muddy Waters Capital LLC has recently answered the European Securities and Markets Authority’s (ESMA’s) consultation on the review of certain aspects of the EU Regulation on short selling and made...

OBLB categories

  • Corporate Governance
  • Financial Regulation
10 Dec 2021
2 min to read

Relational Enforcement of Stock Exchange Rules

Geeyoung Min | Kwon-Yong Jin

Stock exchanges in the United States, most notably the New York Stock Exchange and Nasdaq, serve multiple roles at the same time. As regulators of their listed companies, they set various listing...

OBLB categories

  • Financial Regulation
09 Dec 2021
5 min to read

Regulatory Treatment of Third-Country Branches in the EU: How Will the EC’s Proposed Amendments to CRD VI Affect Banking Groups in Scope?

Mete Feridun

Branches of third-country banking groups (Third-Country Branches or TCBs) have a very significant footprint in the European Union (EU) with a sizeable amount of assets on their books relative to the...

OBLB categories

  • Financial Regulation
06 Dec 2021
4 min to read

‘Just Say No’ to Machine Learning in IRB Models

Hilary J Allen

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...
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OBLB categories

  • Financial Regulation
02 Dec 2021
5 min to read

Climate Change and Monetary Policy in the Euro Area

Sarah Jane Hlásková Murphy | Livio Stracca

Climate change is arguably the greatest challenge of our time and central banks are called to play their part, even if they are not at the forefront of this effort. At the same time, it is not always...

OBLB categories

  • Financial Regulation
01 Dec 2021
4 min to read

Barrick Gold Corporation: A New Source of Instability for the Secondary Market Liability Regime in Canada?

Stéphane Rousseau

Despite their interconnectedness, Canadian and American capital markets are subject to regulatory regimes that differ from an institutional and substantial perspective. In Canada, the provinces and...

OBLB categories

  • Financial Regulation
25 Nov 2021
3 min to read

Germany’s Electronic Securities Act and Supervisory Technology in the DeFi Space

Ibrahim E. Sancak

In June 2021, Germany transcended its conservative securities hinterland by departing from the paper-based securities realm. The new Electronic Securities Act strategically anchors Germany in the...

OBLB categories

  • Financial Regulation
18 Nov 2021
4 min to read

Event Report: Interdisciplinary Panel Discussion on Banking Bailout Law

Richard Squire | Virág Blazsek

On October 6, 2021, the Mile End Institute of Queen Mary University of London hosted a panel discussion on Dr Virág Blazsek’s recent book ‘Banking Bailout Law: A Comparative Study of the United...

OBLB categories

  • Financial Regulation
16 Nov 2021
4 min to read

The Cross-Border Use of Central Bank Digital Currencies (CBDCs): China’s Experiment and Regulatory Challenges

Lerong Lu | Alice Lingsheng Zhang

According to the Financial Stability Board (FSB), there is a consensus among major economies, such as the G20, to facilitate cross-border payments as a priority in their political agendas. Also, the...

OBLB categories

  • Corporate Finance
  • Financial Regulation
12 Nov 2021
3 min to read

Do Retail Investors Value Environmental Impact?

Christoph Siemroth | Lars Hornuf

Climate change is increasingly seen as a major societal problem. To address the problem, enormous financial resources are required and the capital market plays a central role in the financing of...

OBLB categories

  • Financial Regulation
10 Nov 2021
4 min to read

Australia’s Data-Sharing Regime: Six Lessons for Europe

Ross P. Buckley | Natalia Jevglevskaja | Scott Farrell

‘Open Banking’ is fast becoming a global phenomenon, promising to transform financial services by enabling the safe, swift sharing of personal data. The idea of open banking originated in Europe, but...

OBLB categories

  • Corporate Governance
  • Financial Regulation
05 Nov 2021
4 min to read

Rehabilitating Corporate Criminal Liability

John C. Coffee, Jr.

The United States has long had a uniquely broad rule of criminal liability that essentially parallels respondeat superior. This has offended doctrinal purists, but there is little likelihood of...

OBLB categories

  • Financial Regulation
03 Nov 2021
4 min to read

Modernising the Law for Payment Services in India

Shehnaz Ahmed

Technological innovation is revolutionising payments at a rapid pace. As the payments sector continues to innovate to meet the consumer demand for more efficient, innovative, and faster payment...

OBLB categories

  • Corporate Governance
  • Financial Regulation
01 Nov 2021
3 min to read

Disclosure Deregulation of Quarterly Reporting

Vanessa Behrmann | Lars Hornuf | Jochen Zimmermann

The regulatory consensus on disclosure is crumbling. While the academic literature has widely documented beneficial effects of increased disclosures, authorities have begun to retrench disclosure...

OBLB categories

  • Financial Regulation
26 Oct 2021
3 min to read

Private Communication between Managers and Financial Analysts: Evidence from Taxi Ride Patterns in New York City

Stacey Choy | Ole-Kristian Hope

Firm managers spend substantial time meeting privately with analysts and investors (eg, Thomson Reuters (2009); Soltes (2014); Brown, Call, Clement, and Sharp (2015); Bushee, Gerakos, and Lee (2018...

OBLB categories

  • Financial Regulation
26 Oct 2021
3 min to read

Fintech Regulation in China

Robin Hui Huang

Financial technology (Fintech) brings about paradigm changes to the traditional financial system, presenting both challenges and opportunities. In 2020, when my book ‘Fintech Regulation in China:...

OBLB categories

  • Corporate Finance
  • Corporate Governance
  • Financial Regulation
22 Oct 2021
4 min to read

Permitting Dual Class Shares in the UK Premium Listing Regime—A Path to Enhance rather than Compromise Investor Protection

Min Yan

Since late 2019 the UK Government has been discussing the possibility of allowing dual class capital structures in the premium listing regime of the London Stock Exchange (LSE). The revival of IPOs...

OBLB categories

  • Financial Regulation
21 Oct 2021
4 min to read

When the Means Undermine the Ends: The Leviathan of Securities Law and Enforcement in Digital-Asset Markets

Yuliya Guseva

The famous quote from Machiavelli’s The Prince states that ‘in the actions of all men, and especially of princes [i.e., the regulators], one judges by the result’. In short, the end justifies the...

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