Governing shadow banking

Academic Convenors

Professor 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

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

About the conference

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.

Programme

Shadow Banking: Regulatory Arbitrage, the Regulatory Perimeter and Financial Innovation
Chair: Ross Cranston QC (tbc)

‘The Law and Economics of Shadow Banking’
– Alessio Pacces and Hossein Nabilou

‘Shadow Banking, Technology, and Legal Technology’
– Erik Gerding

‘A Functional Approach to Governing Shadow Banking’
– Iris Chiu

Title tbc
– Anna Donovan on blockchain

Issues in the Wholesale Sector
Chair: Iain MacNeil

‘Regulating OTC Derivative Contracts: The Central Counterparty’s Role and EMIR’
– Mark Hsiao

‘Derivatives contracts as the quintessence of Shadow Banking’ tbc
– Joe Tanega and Edmond Curtin

‘The securitisation market: legal risks, regulatory concerns and new challenges’
– Pierre de Goia-Carabellese

Emerging Issues in Shadow Banking
Chair: Christina Skinner, Brooklyn Law School

‘European Money Market Fund Regulations and Universal Transparency’
– Joe Tanega

‘Crowdfunding and P2P Lending in the US and Globally’ (looking for a firm substitute, tbc)
– Ed Greene

Exchange-Traded Funds
– Pamela Hanharan

Closing remarks
Iain MacNeil and Iris Chiu (editors)

Further Information and full Programme

Book your place

Conference Fees

Organised in association with the University of Glasgow University College London

BOOK NOW

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