Principles of Financial Regulation

This is the introductory chapter to a book entitled Principles of Financial Regulation, which will be published by Oxford University Press in 2016.

European Corporate Governance Institute (ECGI) - Law Working Paper No. 277/2014

Columbia Public Law Research Paper No. 14-430

Saïd Business School WP 2014-12

29 Pages Posted: 21 Nov 2014 Last revised: 4 Nov 2018

See all articles by John Armour

John Armour

University of Oxford - Faculty of Law; University of Oxford - Said Business School; European Corporate Governance Institute (ECGI)

Dan Awrey

University of Oxford, Faculty of Law; European Corporate Governance Institute

Paul L. Davies

University of Oxford- Faculty of Law

Luca Enriques

University of Oxford Faculty of Law; European Corporate Governance Institute (ECGI)

Jeffrey N. Gordon

Columbia Law School; European Corporate Governance Institute (ECGI)

Colin Mayer

University of Oxford - Said Business School; Centre for Economic Policy Research (CEPR); European Corporate Governance Institute (ECGI)

Jennifer Payne

University of Oxford - Faculty of Law

Date Written: January 6, 2016

Abstract

Inadequate regulation of the financial system is widely thought to have contributed to the financial crisis. The purpose of the book is to articulate a framework within which financial regulation can be analysed in a coherent and comprehensive fashion. The book’s approach is distinctive in several respects. First, it views the subject from a multidisciplinary perspective of economics, finance and law. Second, it takes a holistic approach, starting from the premise that financial regulation is best understood in the context of an appreciation of the entire financial system. Third it is international and comparative in nature, contrasting approaches, in particular in the EU and US. The book focuses on underlying policies and the objectives of regulation, using specific regulatory measures as examples. This allows the reader to compare choices in respect of the same policy issue in different regulatory frameworks. This introductory chapter sets out the motivation for the project and outlines the book’s analytic framework and contents.

Keywords: Financial regulation, Financial crisis, Banking regulation, Securities Regulation, Financial markets, Shadow Banking, Macro-Prudential Regulation, Principles of Financial Regulation

JEL Classification: G18, G28, G38, K22, E53, E58

Suggested Citation

Armour, John and Awrey, Dan and Davies, Paul L. and Enriques, Luca and Gordon, Jeffrey N. and Mayer, Colin and Payne, Jennifer, Principles of Financial Regulation (January 6, 2016). This is the introductory chapter to a book entitled Principles of Financial Regulation, which will be published by Oxford University Press in 2016.; European Corporate Governance Institute (ECGI) - Law Working Paper No. 277/2014; Columbia Public Law Research Paper No. 14-430; Saïd Business School WP 2014-12. Available at SSRN: https://ssrn.com/abstract=2526740

John Armour (Contact Author)

University of Oxford - Faculty of Law ( email )

St Cross Building
St Cross Road
Oxford, OX1 3UL
United Kingdom
+44 1865 281616 (Phone)

HOME PAGE: http://www.law.ox.ac.uk/people/john-armour

University of Oxford - Said Business School ( email )

Park End Street
Oxford, OX1 1HP
Great Britain

HOME PAGE: http://www.sbs.ox.ac.uk/about-us/people/john-armour

European Corporate Governance Institute (ECGI) ( email )

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

Dan Awrey

University of Oxford, Faculty of Law ( email )

St. Cross Building
St. Cross Road
Oxford, OX1 3UL
United Kingdom

European Corporate Governance Institute ( email )

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

Paul L. Davies

University of Oxford- Faculty of Law ( email )

Harris Manchester College
Oxford, OX1 3TD
United Kingdom

Luca Enriques

University of Oxford Faculty of Law ( email )

St Cross Building
St Cross Road
Oxford, OX1 3UL
United Kingdom

European Corporate Governance Institute (ECGI)

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

HOME PAGE: http:/www.ecgi.org

Jeffrey N. Gordon

Columbia Law School ( email )

435 West 116th Street
Ctr. for Law and Economic Studies
New York, NY 10027
United States
212-854-2316 (Phone)
212-854-7946 (Fax)

European Corporate Governance Institute (ECGI)

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

Colin Mayer

University of Oxford - Said Business School ( email )

Park End Street
Oxford, OX1 1HP
Great Britain
+44 1865 288112 (Phone)
+44 1865 288805 (Fax)

Centre for Economic Policy Research (CEPR)

London
United Kingdom

European Corporate Governance Institute (ECGI)

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

Jennifer Payne

University of Oxford - Faculty of Law ( email )

Oxford
United Kingdom

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