This chapter is concerned with the relations between public and private regulation in respect of hedge funds, which in their own ways govern and re-shape markets, making moral, fairness and efficiency claims and drawing in regulatory resources where they can. Three hedge fund strategies are...

This response to the 2009 UK White Paper on ‘Reforming Financial Markets' argues for stronger democratic oversight of regulators and for regulatory diversity in order to reduce ‘market herding' and the consequent systemic risks. In the context of hitherto weak democratic accountability and...

The financial crisis has spread from private to public, from financial markets (2007-9) to sovereign states (2010 onwards). Concerns over ‘connectedness' – between banks, between banks and states, and hence between states – lies at the heart of the Eurozone debt crisis, just as it...

This response to the consultation on a response to the HM Treasury's 2011 consultation paper, ‘A New Approach to Financial Regulation' comes from Nicholas Dorn, an academic (see annex). The focus of the response is on accountability to Parliament of all aspects of prudential (systemic)...

The way that state institutions are being built in Bosnia denies its citizens legal rights that are taken for granted elsewhere in Europe. The international community has long maintained that the pathway to happiness for Bosnia - European Union membership, political stability and economic...

Regulatory convergence — within the E.U., across the Atlantic and internationally — is conventionally represented as not only benign but also as essential in crisis prevention. This paper articulates a different frame of reference: one in which regulators “crowd,” “herd” and...