UCD Home | About UCD | UCD News & Events | Virtual Tour | Contact UCD | Staff Directories | UCD Sitemap | UCD Connect
All Working Papers

Extending and Contracting Jurisdictions in a Transnational Private Regulatory Regime: Efficiency, Legitimacy, ISDA and the OTC Derivatives Markets

John Biggins and Colin Scott

The Global Financial Crisis has, amongst other things, raised questions with respect to regulation in the over-the-counter (OTC) financial derivatives markets. This has resulted in public policy initiatives in major markets which aim to bring these markets back under the purview of public regulators to some degree. However, this paper seeks to demonstrate that, aside from considerable implementation challenges with respect to OTC derivatives market infrastructure reforms, there are other regulatory complexities. In particular, this paper highlights the nature and prevalence of transnational private regulation in these markets prior to the Global Financial Crisis and some implications arising out of the operation of this private regulatory regime, both historically and into the future.

UCD Working Papers in Law, Criminology & Socio-Legal Studies Research Paper No. 51/2011
http://ssrn.com/abstract=1952582 or http://dx.doi.org/10.2139/ssrn.1952582

All Working Papers