A workshop was held in Oxford on 10th April on the unintended consequences of financial regulation, organised by the Commercial Law Centre at Harris Manchester College, and the Peter Allard School of Law, University of British Columbia. 

If done well, regulation can advance societal goals, but it also can misfire by targeting the wrong issues, failing to address the heart of problems and having unintended consequences, which can assist or hinder effective fulfilment of the regulation’s original goals.  This workshop explored the contours of regulatory unintended consequences, their likely causes and possible avenues to reduce their incidence in the future, with particular reference to regulation put in place after the 2008 financial crisis.    There were sessions on the regulation of capital markets, derivatives banks, tax and financial collateral, each involving short presentations but with the real focus on discussion among the workshop participants.   Participants included academics from Oxford, UBC, UCL, Cornell and St. John’s University, New York and included academics working in the areas of law, economics and politics.