Research Handbook on Asian Financial Law

Edited by Douglas W. Arner, University of Hong Kong, Wai Yee Wan, City University of Hong Kong, Hong Kong, Andrew Godwin, Associate Professor, Melbourne Law School, The University of Melbourne, Australia, Wei Shen, Shanghai Jiao Tong University, China and Evan Gibson, Faculty of Law, University of Hong Kong, Hong Kong

Contents:

PART I INTRODUCTION AND CONCEPTUAL FRAMEWORK
1 Introduction to Research Handbook on Asian Financial Law 2
Douglas W. Arner, Wai Yee Wan, Andrew Godwin, Wei Shen, and Evan Gibson
2 The historical development of financial regulatory principles: influences on
Asia-Pacific systemic supervision 10
Evan Gibson and Douglas W. Arner
3 Trends and theory in financial regulation and regulatory design after the
global financial crisis 30
Steve Kourabas

PART II FINANCIAL REGULATION IN ASIA
4 Financial regulatory models in the Asia-Pacific – a case study in diversity 50
Andrew Godwin
5 Bank resolution 64
Christian Hofmann
6 Networked securities markets: from cross-listing to direct connection 86
David C. Donald
7 Regulation of derivatives in Asia: when technology meets financial
engineering 101
Christopher Chen
8 Internationalization of renminbi: offshore renminbi businesses, offshore
renminbi centres and renminbi’s reserve currency status 122
Wei Shen

PART III FINANCIAL INTEGRATION IN ASIA
9 Understanding ASEAN integration and trade 145
Deborah Elms and Minh Hue Nguyen
10 Cross-border regulation of securities markets in ASEAN 173
Wai Yee Wan
11 ASEAN bond markets: developments and challenges 192
Tir Srinopnikom
12 Consumer financial dispute resolution in a time of increased regulatory
scrutiny 209
Vivien Chen, Andrew Godwin and Ian Ramsay
13 Depositor preference and deposit insurance schemes – challenges for
regulatory convergence and regulatory coordination in Asia 233
Angus Chan, Andrew Godwin and Ian Ramsay
14 Cross-border insolvency in East Asia: cooperation and convergence 257
Casey G. Watters

PART IV COUNTRY STUDIES
15 Anti-‘grey rhino’: prudential regulation and bank resolution in China 274
Simin Gao
16 China’s puzzling banking and shadow banking sectors after the global
financial crisis 293
Wei Shen
17 Macau banking law and financial institutions 315
Leong Cheng Hang
18 Indonesian financial laws: banking, insolvency and taxation 336
Tim Lindsey and Simon Butt
19 The development of Islamic banking and finance: the Malaysian experience 368
Nik Norzrul Thani and Ili Rahilah Ibrahim
20 Financial regulation in New Zealand: optimizing twin peaks 387
Helen Dervan and Simon Jensen
21 Financial consumer protection in Singapore 408
Dora Neo

PART V FINTECH AND INNOVATIVE FINANCE
22 FinTech and its regulation in Hong Kong 431
Douglas W. Arner, Evan Gibson, and Janos Barberis
23 Recent developments of Japanese laws and regulations on FinTech 454
Tetsuo Morishita
24 Lessons from Mt Gox: practical considerations for a virtual currency
insolvency 479
Stacey Steele and Tetsuo Morishita
25 Financial regulation as interagency competition? The saga of venture capital
rule-making in China 499
Sirui Han and Chao Xi
26 Is a bird in the hand worth two in the bush? Reflections on equity
crowdfunding regulation in Taiwan 525
Chang-hsien Tsai
27 Sandboxes and bridges – the impact of Fintech on regulatory convergence
and coordination in Asia 547
Lev Bromberg, Andrew Godwin and Ian Ramsay

Index 569