News

The Regulatory Aftermath of the Global Financial Crisis



12 November 2012

Sydney Law School is pleased to announce the latest book co-authored by Professor Jennifer Hill.

The Regulatory Aftermath of the Global Financial Crisis, published by Cambridge University Press and co-authored with Professor Eilis Ferran of Cambridge University, Professor Niamh Moloney from the London School and Economics and Professor John C. Coffee Jr of Columbia Law School, provides an unrivalled understanding of major regulatory reforms that will profoundly affect the future of finance.

The EU and the US responded to the global financial crisis by changing the rules for the functioning of financial services and markets and by establishing new oversight bodies.

With the US Dodd-Frank Act and numerous EU regulations and directives now in place, this book provides a timely and thoughtful explanation of the key elements of the new regimes in both regions, of the political processes which shaped their content and of their practical impact.

Insights from areas such as economics, political science and financial history elucidate the significance of the reforms.

Australia's resilience during the financial crisis, which contrasted sharply with the severe problems that were experienced in the EU and the U.S. is also examined.

The comparison between the performances of these major economies in a period of such extreme stress tells us much about the complex regulatory and economic ecosystems of which financial markets are a part.

Jennifer Hill is Professor of Corporate Law at Sydney Law School and a Director of the Ross Parsons Centre of Commercial, Corporate and Taxation Law.

She writes widely in the field of corporate law, governance and financial market regulation, and has taught at several US law schools, including Vanderbilt, University of Virginia, University of Texas and Cornell.

Jennifer's other recent research includes:- (i) a book on international executive compensation (co-edited with Randall S. Thomas, Vanderbilt Law School), entitled Research Handbook on Executive Pay (2012, Edward Elgar); (ii) a comparison of Australian and U.S, executive contracts (with Professors Randall Thomas and Ron Masulis); (iii) comparative research on takeovers and takeover defences in Asia; and (iv) comparative research on directors' duties in Australia, the United States and the United Kingdom.

Jennifer is a Fellow of the Australian Academy of Law (AAL) and a Research Associate of the European Corporate Governance Institute.

She is also a member of the Corporations Law editorial board for Cambridge University Press; the Law Council of Australia, Corporations Law Committee; the Corporations and Markets Advisory Committee (CAMAC), Legal Sub-Committee and Advisory Council of the Centre for International Finance and Regulation. In May 2013, she will hold the Foreign Chair at the University of Ghent in Belgium.

Commentary:

'With some exceptionally insightful analysis from four leading academics this book illuminates the rationales and objectives of post-crisis regulatory reform in three key jurisdictions: EU, US, and Australia. Essential guide for all those who wish to understand better the principal drivers of reform in global financial markets and its likely impact.'

Emilios Avgouleas, Chair in International Banking Law and Finance, University of Edinburgh

'Few other projects bring together such far-flung, leading thinkers on financial regulation and its cross-border ramifications. Rigorous, thoughtful, and enlightening - the book lays bare the unfolding supervision of financial services and markets from a unique comparative perspective.'

Chris Brummer, Georgetown University

'The financial crisis has brought massive regulatory changes to financial system regulation which would have been unthinkable a few years ago. In this book, four of the best international experts in financial regulation share their views as to the regulatory developments in three major jurisdictions (European Union, United States, and Australia).'

Pierre-Henri Conac, University of Luxembourg

'The four chapters of this book provide the reader with an excellent analysis of post-crisis financial reforms in Europe and the US and an answer to the question of why the crisis did not hit Australian financial markets. An enlightening mix of legal, economic, and political insights is used to guide the reader into the most dramatic changes of the financial law landscape in the last decades.'

Luca Enriques, Harvard Law School


Contact: Greg Sherington

Phone: +61 2 9351 0202

Email: 001f5115613b2d00315e2d13110c5929021a281653361a1c51197a583a