Free Trade Agreement and Investment Treaty Innovations to Promote More Sustainable Financial Markets for Consumers
THE GLOBAL FINANCIAL CRISIS AND THE NEED FOR CONSUMER REGULATION: NEW DEVELOPMENTS ON INTERNATIONAL PROTECTION OF CONSUMER, C. Lima Marques, D. P. Fernandez Arroyo, I. Ramsay, G. Pearson, eds., Orquestra Editora, Brazil, 2012
6 Pages Posted: 3 Jul 2014
Date Written: July 2, 2014
Bilateral and regional trade and investment treaties (FTAs and BITs ) have proliferated world-wide, including within the Asia-Pacific region, along with double-tax treaties. But countries like Australia have recently become more concerned about FTAs and BITs. This chapter examines processes that states can agree to, especially through commitments made in treaties before disputes arise, that are likely to minimise claims being filed or escalated and therefore to promote sustainable cross-border trade and investment in the field of financial services. It also considers adding commitments requiring or encouraging treaty partners to introduce new obligations on credit suppliers to notify national regulators where they detect unusually high levels of financial stress among borrowers, and then for the regulators to share that information as an "advance warning" system for financial market stability.
Keywords: International law, investment law, international arbitration, dispute resolution, FDI regulation, financial services regulation, consumer law, Asian law
JEL Classification: K10, K30, K33
Suggested Citation: Suggested Citation