Summary
The Covid-19 pandemic which brought about lockdowns in many countries led to economic stress and financial implications for the business sector and households. Professor Iris H-Y Chiu at UCL Laws, together with Dr Andreas Kokkinis, University of Birmingham and Dr Andrea Miglionico, University of Reading, examined the measures taken by financial regulators in the US, EU and UK in order to relieve financial stress for many households and corporations.
The works provide a comprehensive resource for comparing the US’, EU’s and UK’s financial regulatory measures in response to the pandemic, and raise many topical issues that remain yet to be considered. These are forward-looking works that inform debates in regulatory theory as well as financial regulation’s role in broader macro-economic contexts.
Publication details
Chiu, Iris H-Y, Kokkinis, Andreas, and Miglionico, Andrea (2021) ‘Relief and Rescue: Suspensions and Elasticity in Financial Regulation, and Lessons from the UK’s Management of the COVID-19 Pandemic Crisis’, Washington University Journal of Law and Policy, 64, pp. 63-111. Available from: https://openscholarship.wustl.edu/law_journal_law_policy/vol64/iss1/9/
One of their articles in the Stanford International Policy Review (‘Relief and Rescue during the COVID-19 Pandemic: Financial Regulatory Suspensions in the United Kingdom’) looked at the nature of regulatory suspensions introduced by financial regulators and called for a longer-term framework for utilising regulatory suspensions.
The other article in the Indiana Journal of Global Legal Studies (‘Debt Expansion as “Relief and Rescue” at the Time of Covid-19 Pandemic: Insights from the Legal Theory of Finance’) looks at the temporality of financial welfare provision as a result of regulators’ measures, especially in relation to promoting access to debt, and critically questions the role of law in managing the post-pandemic debt burdens.
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