Oxford Business Law Blog

The new Regulation on prudential requirements for MiFID investment firms (IFR) and the accompanying Directive (IFD) have now been passed by the European Parliament and, subject to adoption by the...

2019 marks the ten-year anniversary for the Spector-decision, where the European Court of Justice determined that when an investor is in possession of inside information while trading, it can be...

Shocks that hit part of the financial system, such as the subprime mortgage market in 2007, can propagate and amplify through the complex network of interconnections among financial and non-financial...

It has been twenty years since the European Court of Justice issued its decision in Centros Ltd. v. Erhvervs - og Selskabsstyrelsen (Centros). Since that time, Centros has been widely understood as...

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...

In our new working paper entitled ‘The Future of Data-Driven Finance and RegTech: Lessons from EU Big Bang II’ we argue that 2018 marked an important point in the evolution of finance: a Big Bang of...

Recent technological developments require a reconsideration of intermediated securities holding systems. This post presents two recent papers that examine aspects of this issue. Current intermediated...

Why do short selling bans increase adverse selection? Adverse selection occurs when one party to a transaction has more precise information about the value of an asset than does the other. It is...

Consumers’ financial choices are often quite complex. For instance, choosing a new credit card entails assessing various features of each card, such as introductory and ongoing interest rates, annual...

In March 2018, the UK and the EU reached an agreement on the terms of an implementation period following the UK’s withdrawal from the EU (Brexit). But in the case of a ‘no-deal Brexit’, ie, if there...

Much of the literature on the Global Financial Crisis understandably focuses on contributors to that crisis, such as rampant deception within the American mortgage markets, or the creation of complex...

This conference explores the use of technology in financial markets from the perspectives of finance, law and regulation. The event covers payment systems, cryptocurrencies and property law, digital...

In the shadow of the Brexit negotiations, the EU is changing. A European Monetary Fund to battle the next crisis, new rules on national fiscal policy, proposals to boost structural reforms in the...

The legal protection provided to creditors to enforce their contracts with debtors is central to the functioning of credit markets. These include the rights afforded to lenders in bankruptcy,...

Bank resolutions and specifically bail-ins are among the most complicated and contentious issues of banking law, in the EU and elsewhere.. Bearing the potential to directly affect thousands of...

Historically, India has always been a heavily cash-dependent economy. However, in the recent past, it is witnessing a steady growth in the volume and value of digital financial transactions,...

Bail-in and its supplementary capital requirements have much touted potential. Beyond their promise to reign in financial institutions’ bail-out moral hazard, bail-in intends to stem systemic risk...

On 23 January 2019, the Financial Conduct Authority (FCA) issued a guidance on cryptoassets (FCA-GC) with the purpose of improving and clarifying the regulatory framework of cryptoassets in the...

Data standardization—the process of developing and implementing rules for how data are described and recorded—offers significant benefits for financial firms and regulators. Nonetheless, the topic...

Power prefers permanence. Unregulated markets tend toward concentration as the successful try and entrench themselves by pulling up behind them the ladder of competition that they themselves climbed...