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Determining The Territorial Scope Of State Law In Interstate And International Conflicts: Comments On The Draft Restatement (Third) And On The Role Of Party Autonomy, Hannah L. Buxbaum
Determining The Territorial Scope Of State Law In Interstate And International Conflicts: Comments On The Draft Restatement (Third) And On The Role Of Party Autonomy, Hannah L. Buxbaum
Articles by Maurer Faculty
Analyzing a conflict of laws requires thinking both about the scope of potentially applicable law and about priority, or choice, among potentially applicable laws. The Restatement (Second) of Conflict of Laws, published in 1971, contains little guidance on how, or in what order, courts are to address these two inquiries. The draft Restatement (Third), in contrast, differentiates clearly the respective roles of the two analytical elements. It characterizes the resolution of a choice-of-law question as a two-step process. First, the scope of the relevant states’ internal laws must be determined, in order to ascertain which states’ laws might be used …
Transnational Legal Ordering And Regulatory Conflict: Lessons From The Regulation Of Cross-Border Derivatives, Hannah L. Buxbaum
Transnational Legal Ordering And Regulatory Conflict: Lessons From The Regulation Of Cross-Border Derivatives, Hannah L. Buxbaum
Articles by Maurer Faculty
This paper is about the theory and practice of transnational legal ordering. It seeks to gain insight into how transnational legal orders advance by examining one particular problem: the regulation of over-the-counter derivatives. It focuses on events following the global financial crisis, which exposed the deficiencies of the existing regulatory order in identifying and containing the risks created by trading in those securities. In the aftermath of the crisis, the cross-border systemic risk created by OTC derivatives trading was characterized as a problem of global dimension that necessitated a global response. A wide array of actors and institutions, both domestic …