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Part I International Capital Markets in Context, 1 Introduction

Edited By: Jeffrey Golden

From: International Capital Markets: Law and Institutions (2nd Edition)

Cally Jordan
Edited By: Jeffrey Golden (Consultant Editor)

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 25 July 2024

Securities — Financial regulation — Regulators

This introductory chapter provides an overview of international capital markets. International capital markets are not a new phenomenon; in various forms, they have been around for centuries. The global financial crisis, however, shone a strong light on the workings of international capital markets. They had, unmistakably, been purveyors of systemic risk and seemingly attracted little by way of oversight or regulation. The chapter then assesses how international capital markets have been regulated and what lies on the regulatory horizon. It addresses securities regulation; capital market regulation; information disclosure; and self-regulation. There is no doubt that in a dozen years from now, the regulatory and institutional landscape of international capital markets will have been transformed. Adjustments to the shock of financial crisis have been working their way through systems around the world. Demographics and geopolitical forces are shifting, changing with them investment patterns, institutional models, and long-held assumptions about market behaviour. Information technology has also profoundly impacted information-based regulatory systems, outpacing regulatory responses.

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