Governing Shadow Banking

Governing Shadow Banking
Date
24 Mar 2017, 09:00 to 24 Mar 2017, 17:30
Type
Conference / Symposium
Venue
Institute of Advanced Legal Studies, 17 Russell Square, London WC1B 5DR
Description

Academic Convenors:

  • Iris Chiu, Professor of Corporate Law and Financial Regulation, Centre for Ethics and the Law, UCL,  
  • Iain MacNeil, Alexander Stone Chair of Commercial Law, University of Glasgow

Speakers include:

  • Erik Gerding, Professor of Law, University of Colorado
  • Alessio Pacces, Professor of Law, Erasmus University
  • Pamela Hanrahan, Professor of Law, University of New South Wales

 

This conference brings together a number of experts in the UK, US and Europe to discuss what shadow banking means and the implications for financial sector governance and regulation of both mainstream and alternative institutions and activities, which by 2014 had grown to an estimated USD$75 trillion in assets held by non-bank financial intermediary institutions.

Shadow banking activities carried out by mainstream banks and investment banks in the run-up to the global financial crisis 2008-9 have greatly increased the level of risks assumed in financial intermediation and to an extent, shadow banking could, by its very nature, foster irresponsible intermediation and contribute to systemic crises. Post-crisis reforms have now attempted to address what was sub-optimal risk intermediation. One aim of the conference is to take stock of these reforms and consider to what extent these have changed the character of shadow banking. A second aim is to examine whether and to what extent new and developing activities and entities are cause for regulatory concern and whether in the spirit of forward-looking judgment-based regulation, regulators should take pre-emptive measures to govern these.

This conference addresses broad themes such as unpacking the inchoate concept of ‘shadow banking’ and explores the governance and regulatory challenges that emanate from ‘shadow banking’. Given that shadow banking is premised on arbitrage, can it be governed as a matter of prudential regulation? We will explore the regulatory perimeter and the implications of regulatory extensions into shadow banking. In addition the conference will also addresses a number of specific issues and developments in shadow banking.

Outline Programme:

Shadow Banking: Regulatory Arbitrage, the Regulatory Perimeter and Financial Innovation
Chair: Ross Cranston QC (tbc)
Alessio Pacces and Hossein Nabilou, ‘The Law and Economics of Shadow Banking’
Iris Chiu, ‘A Functional Approach to Governing Shadow Banking’
Erik Gerding, ‘Shadow Banking, Technology, and Legal Technology’
Anna Donovan, '(Shadow) Banking on the Blockchain: Permissioned Ledgers, Interoperability and Common Standards'

Issues in the Wholesale Sector
Chair: Iain MacNeil
Mark Hsiao, ‘Regulating OTC Derivative Contracts: The Central Counterparty's Role and EMIR’
Joe Tanega and Edmond Curtin ‘Derivatives contracts as the quintessence of Shadow Banking’ tbc
Pierre de Goia-Carabellese, ‘The securitisation market: legal risks, regulatory concerns and new challenges’

Emerging Issues in Shadow Banking
Chair: Christina Skinner, Brooklyn Law School
Joe Tanega, ‘European Money Market Fund Regulations and Universal Transparency’
Ed Greene, ‘Crowdfunding and P2P Lending in the US and Globally’ (looking for a firm substitute, tbc)
Pamela Hanharan on Exchange-Traded Funds

Closing remarks by editors Iain MacNeil and Iris Chiu

   

FURTHER INFORMATION and PROGRAMME


Conference Fees:

  • Standard Rate - £25.00
  • Special rate for students from UCL, Glasgow, and SAS only - £20.00
  • Conference Speakers - Free

 Organised in association with the University of Glasgow University College London  

             

Contact

IALS Events Office
IALS.events@sas.ac.uk
020 7862 5800