The Resource Contracts as regulation model : applications and legal implications in over-the-counter financial markets, Maciej Konrad Borowicz

Contracts as regulation model : applications and legal implications in over-the-counter financial markets, Maciej Konrad Borowicz

Label
Contracts as regulation model : applications and legal implications in over-the-counter financial markets
Title
Contracts as regulation model
Title remainder
applications and legal implications in over-the-counter financial markets
Statement of responsibility
Maciej Konrad Borowicz
Creator
Contributor
Subject
Language
eng
Summary
We develop a conceptual model of contracts as regulatory instruments in over-the-counter (OTC) financial markets. The model is informed by the functional understanding of financial regulation as addressing problems of counterparty risk, liquidity, information and systemic risk and structural understanding of regulation as a process of standard-setting, monitoring and enforcement. The justification of conceptualization contracts as regulatory instruments is found in the nature of the political economy considerations that inform the definition of certain contracts used in OTC financial markets. While many scholars rely on conceptualization of the said contracts as boilerplate, we argue that there exist important qualitative differences between boilerplate and regulatory contracts, which we link to a broader spectrum of interests taken into account in their definition in the process of standard-setting. The model and its application to loan and derivatives markets help to highlight the impact of governance features of the organization developing the contract and the regulatory competition to which the organization is exposed on the scope of the regulatory function. We also use a number of indicators and attributions to examine the effectiveness of regulatory contracts. While the contractual model displays some weaknesses in terms of both standard-setting (conflicts of interest) and enforcement (reliance on delegation) compared to its better established counterpart the organizational model associated with exchanges the contractual model helps to account for important self-regulatory features of OTC financial markets and offers suggestions as to how the structure of OTC financial markets can be improved
Cataloging source
FIE
http://library.link/vocab/creatorName
Borowicz, Maciej Konrad
Date time place
Defence date: 15 June 2016
Dissertation note
Thesis (Ph. D.)--European University Institute (LAW), 2016.
Index
no index present
Literary form
non fiction
Nature of contents
theses
http://library.link/vocab/relatedWorkOrContributorName
European University Institute
Series statement
  • EUI PhD theses.
  • EUI theses
http://library.link/vocab/subjectName
  • Over-the-counter markets
  • Derivative securities
  • Financial risk management
Label
Contracts as regulation model : applications and legal implications in over-the-counter financial markets, Maciej Konrad Borowicz
Link
http://hdl.handle.net/1814/41913
Instantiates
Publication
Note
Examining Board: Professor Fabrizio Cafaggi, EUI; Professor Hans-W. Micklitz, EUI; Professor Katharina Pistor, Columbia Law School; Associate Professor Paola Iamiceli, University of Trento
Bibliography note
Includes bibliographical references (p. 230-245)
Control code
FIEb17852092
Dimensions
30 cm.
Extent
245 pages
System control number
(OCoLC)1088495961
Label
Contracts as regulation model : applications and legal implications in over-the-counter financial markets, Maciej Konrad Borowicz
Link
http://hdl.handle.net/1814/41913
Publication
Note
Examining Board: Professor Fabrizio Cafaggi, EUI; Professor Hans-W. Micklitz, EUI; Professor Katharina Pistor, Columbia Law School; Associate Professor Paola Iamiceli, University of Trento
Bibliography note
Includes bibliographical references (p. 230-245)
Control code
FIEb17852092
Dimensions
30 cm.
Extent
245 pages
System control number
(OCoLC)1088495961

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