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suggested paper topics spring 2015

This page is subject to change.

The seminar papers must be on topics approved by me. I set out below some suggestions as a starting point. If you have a particular topic you want to write about that fits the subject matter of the seminar we can discuss whether that will work.

I recommend basing your paper on a specific document (policy document, proposed regulation/transnational standard, court decision) rather than identifying a very general topic to write about. A critical analysis of a recent court decision or other recent document is a useful paper for this seminar. Alternatively you might compare approaches to an issue in international finance in two different jurisdictions. I am not a tax expert so most tax topics are beyond the scope of this seminar although I would approve a topic relating to developments in increasing transparency with respect to tax competition.

Generally on writing a student paper I recommend Eugene Volokh, Writing a Student Article, 48 J. Legal Educ. 247 (1998).

1. Topics related to the seminar reading materials:
Dealing with issues in cross border regulation of financial activity:
IOSCO Task Force on Cross Border Regulation, Consultation Report (Nov. 2014)

The Culture of Finance:
House of Commons Treasury Select Committee, Implementing The Recommendations of the Parliamentary Commission on Banking Standards, HC 768 (Nov. 20, 2014)

Bankers’ remuneration
UK: Financial Services (Banking Reform) Act 2013

Dealing with the Financial Crisis
IMF Independent Evaluation Office, IMF Response to the Financial and Economic Crisis (Nov. 2014) [Note also the earlier report on IMF Performance in the Run-Up to the Financial and Economic Crisis: IMF Surveillance in 2004-07]

The Euro Area Crisis:
IMF Independent Evaluation Office, The IMF and the Euro Area Crisis Draft Issues Paper (Nov. 2014)

Sanctions: European Sanctions Blog

Compliance: Derisking

Regulating Benchamarks:
UK FCA, CP14/32 Bringing additional benchmarks into the regulatory and supervisory regime

Credit ratings:
EU Joint Committee of the European Supervisory Authorities, Discussion Paper on the Use of Credit Ratings by Financial Intermediaries (Dec. 2014)

Canadian Securities Regulators Articulate Concerns on Routing Retail Equity Orders to U.S. Dealers

Shadow Banking
Defining banks (EBA Opinion on the perimeter of credit institutions (Nov. 2014))

Separating proprietary trading from core banking activities (EU Progress Report on Liikanen proposals; European Parliament Report; Bloomberg News story Jan. 9, 2015)

GAO, Financial Stability Oversight Council: Further Actions Could Improve the Nonbank Designation Process (Nov. 2014)

Asset Management: FSOC Notice Seeking Comment on Asset Management Products and Activities 79 Fed. Reg. 77488 (Dec. 24, 2014)

Crowdfunding (e.g. UK FCA Policy Statement, SEC, Ontario Securities Commission)

Conflicts between transnational moves on financial regulation and domestic politics/Evaluations of states’ compliance with international standards:
HR 37 – The Promoting Job Creation and Reducing Small Business Burdens Act
FSB: Global adherence to regulatory and supervisory standards on international cooperation and information exchange: Status update
FATF Review of Norwary’s Regulation of Moneylaundering

Evaluations of regulators
Office of the Inspector General, Federal Reserve, The Board Should Enhance Its Supervisory Processes as a Result of Lessons Learned From the Federal Reserve’s Supervision of JPMorgan Chase & Company’s Chief Investment Office (Oct. 2014)
GAO, Regulators’ Analytical and Coordination Efforts (Dec. 2014) (reviews efforts of US regulators to co-ordinate rule-making under Dodd Frank(includes material on Volcker Rule))

Regulators/Central Banks and Transparency:
News Release – Bank of England Court Minutes June 2007 – May 2009; News Release – Bank of England announces measures to bolster transparency and accountability

2. Cases:
Akers & Ors v Samba Financial Group [2014] EWCA Civ 1516 (04 December 2014) (Trusts of shares in companies incorporated in Saudi Arabia, Hague Convention on the Law Applicable to Trusts and on their Recognition, and transnational insolvency)

United Company Rusal Plc, R (on the Application of) v The London Metal Exchange [2014] EWCA Civ 1271 (08 October 2014) (Challenge to London Metal Exchange consultation with respect to proposed rule change – challenge fails) (The UK Supreme Court refused permission for an appeal)

Merchant International Company Ltd v Natsionalna Aktsionerna Kompaniia Naftogaz Ukrainy & Anor [2014] EWCA Civ 1603 (10 December 2014) (illustrates problems of enforcement across borders)

Barclays Bank Plc v Unicredit Bank AG [2014] EWCA Civ 302 (March 2014) (what is a “commercially reasonable manner”)

3. Enforcement Actions

4. Recent Reviews of Domestic Financial Regulation
Switzerland – Report of Group of Experts on Financial Market Strategy
Australia – Financial System Inquiry Final Report (350 pages)
Guernsey – Revising the Bailiwick’s Financial Regulatory Laws to Maintain the Bailiwick’s Reputation as an Efficient and Well-regulated International Finance Centre

5. Topics in international finance not directly raised by the seminar reading materials

Controlling transnational bribery: OECD Foreign Bribery Report (Dec. 2, 2014) (UK Anti-corruption Plan)

Extractive Industries Disclosure: Extractive Industries Transparency Initiative (UK (Guidance))

Regulating Islamic Banks (Mejia et al, Regulation and Supervision of Islamic Banks; Song & Oosthuizen, Islamic Banking Regulation and Supervision: Survey Results and Challenges)

Transparency and Taxes
Global Forum on Transparency and Exchange of Information for Tax Purposes
UK: Transparency and Trust Initiative (Corporate directors consultation)