Law Reform and Financial Markets

Law Reform and Financial Markets

Elgar Financial Law series

Edited by Kern Alexander and Niamh Moloney

Law Reform and Financial Markets addresses how law reform can be used to support strong financial markets and draws on the global financial crisis as a case study.

Chapter 1: The Rise, Fall and Fate of Principles-based Regulation

Julia Black

Subjects: law - academic, finance and banking law


The financial crisis did not only bring into sharp relief the limitations of the structures of financial markets and the behaviour of their participants; it also called into question some critical aspects of international and national financial regulation. Many of the questions it prompted relate to highly technical matters, for example of prudential regulation and financial stability. Others, however, are more fundamental questions as to the appropriate nature of the relationship between markets and regulators, and the role that each should play in the regulatory regime.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information