Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Securities Law
Assessing Hong Kong As An International Financial Centre, Bryane Michael
Assessing Hong Kong As An International Financial Centre, Bryane Michael
Bryane Michael (bryane.michael@stcatz.ox.ac.uk)
How can Hong Kong hope to catch up to London and New York as an international financial centre? Close ties with the Mainland result in financial fragility which could decrease Hong Kong's prospects as a financial centre in the longer term. In this paper, we review Hong Kong's dependence on the Mainland's economy. We provide 21 recommendations for strengthening Hong Kong's banking and securities markets.
Objectives-Based Twin-Peaks Financial Regulation In Hong Kong, Bryane Michael, Say Goo, Dariusz Wojick
Objectives-Based Twin-Peaks Financial Regulation In Hong Kong, Bryane Michael, Say Goo, Dariusz Wojick
Bryane Michael (bryane.michael@stcatz.ox.ac.uk)
Objectives-based legislation – or laws which focus on achieving particular and concrete outcomes – has become a new and important tool that financial sector regulators use to tackle large and varied financial system risks. Yet, objectives-based legislation – and the frequent principles-based regulation underpinned by such legislation – represents a stark departure from traditional ways of legislating. In this paper, we describe the problems and prospects of implementing objectives-based financial regulation in Hong Kong – in the form of a Twin Peaks regulatory structure. A focus on the objectives of achieving financial market stability and proper market conduct would require …