Let’s Talk: What FinReg Can Learn from New Governance (And Vice Versa)

16 Pages Posted: 7 Sep 2019

See all articles by Kimberly D. Krawiec

Kimberly D. Krawiec

University of Virginia, School of Law

Date Written: June 1, 2019

Abstract

Lauren Edelman’s "Working Law" is remarkably relevant to the study of financial regulation. In particular, three factors that Edelman identifies as contributing to legal endogeneity and symbolic compliance – ambiguous law, a lack of clear outcome measures, and the presence of legal intermediaries – are especially salient in this context. It has long been recognized that powerful financial institutions and the lawyers, lobbyists, and other agents who serve them have the ability to influence the law ex ante, through political lobbying. Edelman’s work reinforces the point that they may also do so ex post through an endogenous process of interpretation, implementation, and, ultimately, enshrinement of symbolic compliance with ambiguous law.

Keywords: employment law, compliance, financial regulation, corporate law, securities regulation, corporate crime

JEL Classification: K00, K10, K2, K22, K32

Suggested Citation

Krawiec, Kimberly D., Let’s Talk: What FinReg Can Learn from New Governance (And Vice Versa) (June 1, 2019). Law and Social Inquiry, Forthcoming, Duke Law School Public Law & Legal Theory Series No. 2019-64, Available at SSRN: https://ssrn.com/abstract=3446401 or http://dx.doi.org/10.2139/ssrn.3446401

Kimberly D. Krawiec (Contact Author)

University of Virginia, School of Law ( email )

580 Massie Road
Charlottesville, VA 22903
United States

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