International Finance Regulation (eBook)

As the global market expands, the need for international
regulation becomes urgent

Since World War II, financial crises have been the result of
macroeconomic instability until the fatidic week end of September
15 2008, when Lehman Brothers filed for bankruptcy. The financial
system had become the source of its own instability through a
combination of greed, lousy underwriting, fake ratings and
regulatory negligence. From that date, governments tried to put
together a new regulatory framework that would avoid using taxpayer
money for bailout of banks. In an uncoordinated effort, they
produced a series of vertical regulations that are disconnected
from one another. That will not be sufficient to stop finance from
being instable and the need for international and horizontal
regulation is urgent. This challenge is the focus of Georges
Ugeux's book.

International Finance Regulation: The Quest for Financial
Stability focuses on the inspirations behind regulation, and
examines the risks and consequences of fragmentation on a global
scale. Author Georges Ugeux has four decades of experience in the
legal and economic aspects of international business operations. He
created and run the New York Stock Exchange'sinternational
group in charge of developing the NYSE's reach to non-US
companies, including relationships with regulators and governments.
Ugeux teaches European Banking and Finance of the Columbia
University School of Law. Ugeux is uniquely positioned to provide
recommendations and suggestions from the perspective of a top
global authority. In the book, he explores international regulation
with topics such as:

* Laws, regulations, and risks of overregulation

* Transformation of the U.S. market and creation of the
Eurozone

* Development of a global framework and stability of the
banking system

* In-depth examination of Basel III, the Dodd-Frank Act, the
European Banking Union, and the Volcker Rule

The book also contains case studies from real-world scenarios
like Lehman, CDS, Greece, the London Whale, and Libor to illustrate
the concepts presented. Finance consistently operates within an
increasingly global paradigm, and an overarching regulation scheme
is becoming more and more necessary for sustainable growth.
International Finance Regulation: The Quest for Financial
Stability presents an argument for collaboration toward a
comprehensive global regulation strategy.