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The Specter of Sisyphus: Re-Making International Financial Regulation After the Global Financial Crisis

dc.contributor.authorYadav, Yesha
dc.identifier.citation24 Emory Int'l L. Rev. 83 (2010)en_US
dc.descriptionarticle published in law reviewen_US
dc.description.abstractThe global financial crisis is forcing a thorough re-evaluation of the international regulatory architecture. The crisis has shown not only the cracks in regulatory oversight, but also a market operation that had long outgrown and outwitted its overseers. This Article has argued that the international financial market may be seen as having its own distinct personality, the recent expansion bringing with it a unique set of regulatory risks. Accordingly, just as with domestic regulatory systems, the regulation of the international financial marketplace ought to be rooted in the legal and economic rationales that have been advanced in support of financial markets regulation generally, in order that reform proceed thoughtfully, rather than on an ad hoc and knee-jerk basis. This Article contemplates a re-organization of the current plethora of standard-setting and oversight bodies that have provided little substantial protection in the face of the crisis. In sum, it puts forward a case for a more consolidated framework for standard setting and supervision that better matches the shape that the market has assumed, and that further works to ensure a greater focus on catching and managing the dangers of cross-border systemic risk.en_US
dc.format.extent1 PDF (38 pages)en_US
dc.publisherEmory International Law Reviewen_US
dc.subjectInternational regulatory architectureen_US
dc.subjectInternational financial marketen_US
dc.subjectRegulatory risksen_US
dc.subject.lcshGlobal Financial Crisis, 2008-2009en_US
dc.subject.lcshFinance -- Law and legislationen_US
dc.subject.lcshInternational finance -- Law and legislationen_US
dc.subject.lcshFinancial institutions -- State supervisionen_US
dc.subject.lcshFinancial risk managementen_US
dc.subject.lcshFinancial institutions, International -- State supervisionen_US
dc.subject.lcshCapital market -- Law and legislationen_US
dc.subject.lcshInternational lawen_US
dc.titleThe Specter of Sisyphus: Re-Making International Financial Regulation After the Global Financial Crisisen_US

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