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Cafaggi, Fabrizio --- "Introduction: The Transformation of Transnational Private Regulation: Enforcement Gaps and Governance Design" [2012] ELECD 488; in Cafaggi, Fabrizio (ed), "Enforcement of Transnational Regulation" (Edward Elgar Publishing, 2012)

Book Title: Enforcement of Transnational Regulation

Editor(s): Cafaggi, Fabrizio

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781781003725

Section Title: Introduction: The Transformation of Transnational Private Regulation: Enforcement Gaps and Governance Design

Author(s): Cafaggi, Fabrizio

Number of pages: 38

Extract:

Introduction: The transformation of
transnational private regulation:
enforcement gaps and governance design1
Fabrizio Cafaggi

Transnational private regulation (TPR) is growing, giving rise to numerous
regimes at the global level which interplay with public, international and
domestic regimes. TPR encompasses regimes that primarily, but not exclu-
sively, regulate firms operating in markets that extend beyond States'
boundaries. The scope ranges from trade (electronic platforms to trade
goods, services and shares) to human rights, from food safety to financial
and banking, from professional (accounting, legal, medical) to technical
(telecom, aviation, electricity) standards, from environmental to employ-
ment standards, and from advertising to data protection. Within each
sector, global supply chains have become relevant global regulators, devel-
oping contractual regulatory tools which are applied to some or all partici-
pants.2 TPRs are frequently embedded within independent private orders,
often pursuing conflicting policies; their normative foundations are primar-
ily based on private autonomy, freedom of contract and association limited
by constitutional and international laws. Thence, they are primarily regu-
lated by their relevant constitutional contracts and/or organizational char-
ters; gaps are filled by reference to domestic private law regimes, whereby

1
This introduction has strongly benefited from deep and rich discussions with
the EUI Casebook working group. My thanks go also to Rebecca Schmidt and
Federica Casarosa for editorial and research assistance. Responsibility for the text is
mine.
2
See on the relationship between private regulation and supply chains,
S. Henson and J. Humphrey, `The impact of private food safety standards on ...