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Full-Text Articles in Securities Law
What Role Can An International Financial Centre’S Law Play In The Development Of A Sunrise Industry? The Case Of Hong Kong And Solar Powered Investments, Bryane Michael
Bryane Michael (bryane.michael@stcatz.ox.ac.uk)
How can international financial centres like Hong Kong increase assets under management – and thus their size and ranking? Most policymakers and their advisors wrongly answer this question by focusing on financial institutions, and the law that governs them. Instead, policymakers need to start by looking at actual markets. What new tastes and technologies need funding? How can such funding fit into already existing geographies of production, distribution and finance? In this paper, we show how a focus on funding sunrise industries can help increase assets under management for the financial institutions operating in an international financial centre like Hong …
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 …