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Black, Julia --- "The Rise, Fall and Fate of Principles-based Regulation" [2011] ELECD 1043; in Alexander, Kern; Moloney, Niamh (eds), "Law Reform and Financial Markets" (Edward Elgar Publishing, 2011)

Book Title: Law Reform and Financial Markets

Editor(s): Alexander, Kern; Moloney, Niamh

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9780857936622

Section: Chapter 1

Section Title: The Rise, Fall and Fate of Principles-based Regulation

Author(s): Black, Julia

Number of pages: 32

Abstract/Description:

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.