Rethinking Regulation of International Finance: Law, Policy and Institutions

Rethinking Regulation of International Finance Law, Policy, and Institutions, Wolters Kluwer, 2017, ISBN: 978-90-411-8838-0

Posted: 28 Jan 2018

See all articles by Uzma Ashraf Barton

Uzma Ashraf Barton

AIIFL, Faculty of Law, The University of Hong Kong; Georgetown University Law Center

Date Written: December 2017

Abstract

Rethinking Regulation of International Finance encapsulates the most important aspects of the development and operation of the international financial system. This book questions the fundamental basis of the existing international financial architecture (soft law) and explores the need for a compliance-based model based on legitimacy of regulations and accountability of the regulatory bodies in international financial stability. Why have financial standards and institutions almost always failed to effectively predict and respond to real-world financial crises? The answer, as this challenging book shows, is that international financial law suffers from a persistent lack of judicial or quasi-judicial enforcement mechanisms, leaving flaws in the structure of the international financial system that lead inevitably to excesses that threaten the public good of global financial stability. The author, an internationally renowned legal expert on financial and fiscal reforms, responds to the increasingly urgent call for rethinking the structure and the functioning of international financial law and argues that a resilient procedural mechanism with judicious regulatory substance can make the financial system safer for all actors, including the taxpayers of not only the Member States but also the unrepresented countries. To this end, the book suggests short-to-medium term reforms within the existing financial system and for longer-term it recommends an unconventional alternative that takes risk away from the market and thereby makes every stakeholder accountable to the system.

Keywords: International Financial Law, Regulatory Reforms, International Financial Institutions, GFC, SDC, Basel Regulation, Financial Market Stability, Bretton Woods Institutions, Gold Standards, Risk Management, Crisis Prevention, FSB, EU, Asset-Backed Financial System

JEL Classification: G01, G15, G18, G20, G28, G32, G38, N20, N40, K33, F02, F15, F33, F55, F68, M38

Suggested Citation

Barton, Uzma Ashraf, Rethinking Regulation of International Finance: Law, Policy and Institutions (December 2017). Rethinking Regulation of International Finance Law, Policy, and Institutions, Wolters Kluwer, 2017, ISBN: 978-90-411-8838-0, Available at SSRN: https://ssrn.com/abstract=3103826

Uzma Ashraf Barton (Contact Author)

AIIFL, Faculty of Law, The University of Hong Kong ( email )

Faculty of Law, Pokfulam Road
Pokfulam
Hong Kong
Hong Kong
+852 9285 4145 (Phone)
+85225593543 (Fax)

HOME PAGE: http://www.aiifl.com

Georgetown University Law Center

DC 20001
United States

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