Principles of Financial Regulation

Armour, John; Awrey, Dan; Davies, Paul; Enriques, Luca; Gordon, Jeffrey N.; Mayer, Colin; Payne, Jennifer

doi:10.1093/acprof:oso/9780198786474.001.0001

Cited by 140 publications

(56 citation statements)

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“…Black (2015), p 245. 97 Black (2015), p 240; see also Armour et al (2016), p 551. 98 Subsection 3.3.3, above.…”

Section: Precision V Flexibilitymentioning

confidence: 98%

“…71 Mennicken and Power (2013), p 308. 72 Baldwin et al (2012), p 25; see also Ferran (2015), pp 115-124; Armour et al (2016), pp 556-575. 73 Black (2015), p 218.…”

Section: Democratic Legitimacy and Accountabilitymentioning

confidence: 99%

“…This could inspire significant levels of reliance on regulatory technology to supervise regulated entities. An argument could be made that the deeper and broader 78 Black (2008), p 137; see also Armour et al (2016), pp 556-560. 79 analysis that can be achieved through artificial intelligence amounts to expert judgment, which justifies removing discretion from human decision makers.…”

Section: Expertisementioning

confidence: 99%

“…111 Armour et al (2016), p 546. 112 Baldwin et al (2012), pp 137-139; Armour et al (2016), pp 545-551. 113 Black (2015), pp 219-221.…”

Section: Self-regulatory Approachesmentioning

confidence: 99%

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Regulatory Technology: Replacing Law with Computer Code

Micheler

Whaley

2019

Eur Bus Org Law Rev

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In the UK both the Bank of England and the Financial Conduct Authority have recently carried out experiments using new digital technology for regulatory purposes. The idea is to replace rules written in natural legal language with computer code and to use artificial intelligence for regulatory purposes. This new way of designing regulatory rules is in line with the UK government's vision for the country to become a global leader in digital technology. It is also reflected in the FCA's business plan. The article reviews the technology and the advantages and disadvantages of combining the technology with regulatory law. It then informs the discussion from a broader perspective. It analyses regulatory technology through criteria developed in the mainstream regulatory debate. It contributes to that debate by anticipating problems that will arise as the technology evolves. In addition, the hope is to assist the government in avoiding mistakes that have occurred in the past and creating a better system from the start.

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“…Black (2015), p 245. 97 Black (2015), p 240; see also Armour et al (2016), p 551. 98 Subsection 3.3.3, above.…”

Section: Precision V Flexibilitymentioning

confidence: 98%

“…71 Mennicken and Power (2013), p 308. 72 Baldwin et al (2012), p 25; see also Ferran (2015), pp 115-124; Armour et al (2016), pp 556-575. 73 Black (2015), p 218.…”

Section: Democratic Legitimacy and Accountabilitymentioning

confidence: 99%

Section: Expertisementioning

confidence: 99%

“…111 Armour et al (2016), p 546. 112 Baldwin et al (2012), pp 137-139; Armour et al (2016), pp 545-551. 113 Black (2015), pp 219-221.…”

Section: Self-regulatory Approachesmentioning

confidence: 99%

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Regulatory Technology: Replacing Law with Computer Code

Micheler

Whaley

2019

Eur Bus Org Law Rev

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“…Where a 'credit event' in connection with the debt obligation occurs, the seller promises to compensate the buyer. 72 CDS are used precisely in situations where risks are difficult to control, making elaborated contracts impossible. 73 Sovereign CDS contracts are notoriously incomplete, unable to anticipate with specificity the core risks for which they are designed.…”

Section: Constituting the Normative Infrastructure For Global Derivatmentioning

confidence: 99%

Contract Interpretation Regimes

Wielsch

2018

Modern Law Review

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Freedom of contract requires the integrity of social institutions that ensure the preconditions for private autonomy. This has been largely ignored by a private law doctrine that works on the assumption of the state being the supplier of background justice. The article argues for an institutional turn in contract interpretation. Depending on whether contracts can link up to existing conventions or have to create their institutional context in the first place, courts may apply either an ‘institution‐preserving interpretation’ or an ‘institution‐creating interpretation’. This implies the need to refrain from following universal rules of contractual interpretation. Rather, legal doctrine should focus on the development of sector‐specific standards of interpretation and on support for private legal regimes that ensure socially reflexive constructions of contracts.

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Climate change litigation: A review of research on courts and litigants in climate governance

Setzer

Vanhala

2019

WIREs Climate Change

105

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Studies of climate change litigation have proliferated over the past two decades, as lawsuits across the world increasingly bring policy debates about climate change mitigation and adaptation, as well as climate change-related loss and damage to the attention of courts. We systematically identify 130 articles on climate change litigation published in English in the law and social sciences between 2000 and 2018 to identify research trajectories. In addition to a budding interdisciplinarity in scholarly interest in climate change litigation we also document a growing understanding of the full spectrum of actors involved and implicated in climate lawsuits and the range of motivations and/or strategic imperatives underpinning their engagement with the law. Situating this within the broader academic literature on the topic we then highlight a number of cutting edge trends and opportunities for future research. Four emerging themes are explored in detail: the relationship between litigation and governance; how time and scale feature in climate litigation; the role of science; and what has been coined the "human rights turn" in climate change litigation. We highlight the limits of existing work and the need for future research-not limited to legal scholarship-to evaluate the impact of both regulatory and antiregulatory climate-related lawsuits, and to explore a wider set of jurisdictions, actors and themes. Addressing these issues and questions will help to develop a deeper understanding of the conditions under which litigation will strengthen or undermine climate governance. This article is categorized under: Policy and Governance > Multilevel and Transnational Climate Change Governance K E Y W O R D S climate change litigation, climate governance, climate lawsuits, regulation 1 | INTRODUCTIONCourts are playing an increasingly visible role in policy debates about climate change mitigation and adaptation, as well as climate change-related loss and damage. 1 Lawsuits addressing the causes and consequences of climate change-such as the expansion of airports, the reliance on coal-powered energy and the climate-related erosion of the habitats of endangered species-are increasingly apparent in national courts, and scholars even see a potential role for international tribunals to address climate harms (e.g., Bodansky, 2017;Sands, 2016). This article is, to our knowledge, the first to systematically review key literature on climate change litigation over the last 20 years. We build on this to identify new horizons for a forward-

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Principles of Financial Regulation

Cited by 140 publications

References 0 publications

Regulatory Technology: Replacing Law with Computer Code

Regulatory Technology: Replacing Law with Computer Code

Contract Interpretation Regimes

Climate change litigation: A review of research on courts and litigants in climate governance

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