Call for Papers - Extra-Territoriality and Financial Regulation
Attempts by national regulators to give their regulatory standards extra-territorial effect
beyond their own borders have become increasingly popular in fields as diverse as banking,
securities and derivatives regulation. The attractiveness of extra-territorial regulation for
policy-makers is obvious: in a world still reeling from the 2008 financial crisis, regulators can
export policy preferences unilaterally while preventing some of the most malicious forms of
regulatory arbitrage that can undermine their effectiveness.
But extraterritoriality can also generate a range of legal and even economic tradeoffs. At a
most basic level, when practiced haphazardly it risks clashing with principles of public
international law and the comity of nations, in particular when such regulation is enforced
with public authority. Furthermore, extra-territorial rules can increase, as opposed to
decrease the potential for conflicting or duplicative regulatory policies as other regulators
respond in kind. This can lead to increased compliance costs for market participants that
reduce liquidity and subject market participants to operational and legal risks that themselves
can potentially introduce new forms of systemic risk.
The conference Extra-Territoriality and Financial Regulation, the annual conference of the new
Journal of Financial Regulation, will seek to enhance our understanding of these and other
important problems. More specifically, the conference will seek to explore topics including,
but not limited to:
• the policy motivations for writing extra-territorial rules and the conditions for selecting this approach
this would include considerations from political economy, political science, and state organization theory;
• the advantages and the limits of extra-territorial financial regulation, with particular regard to the different current policy initiatives and their impact on both financial innovation and prudential oversight;
• the relationship between extra-territorial rules and the growing consensus on international standards and global soft law, in particular through international bodies such as the G20, the FSB, the Basel Committee, and others;
• regulatory responses in other jurisdictions, including the likelihood of retaliation or counteracting measures;
• responses by regulated market participants, in particular theoretical or empirical accounts of reactions by the financial industry to the adoption of extra-territorial standards;
• legal considerations for enforcing extra-territorial standards, possibly including problems from all of public international law, conflict of laws, and democratic accountability.
The conference organizers invite papers from scholars, policymakers and practitioners on
each of these topics. The organizers encourage the submission of papers that examine these
topics from an interdisciplinary, international and/or comparative perspective.
Papers should be submitted via email to Geneviève Helleringer at
<firstname.lastname@example.org >. The subject line of the email should state “JFR
Conference Submission”. To facilitate blind review, names and other identifying information
should be redacted from the submitted paper (but clearly identified in the message). Authors
who wish to have their conference submission considered for publication in the Journal of
Financial Regulation should also submit their paper via the ScholarOne link available on the
journal’s website: <http://jfr.oxfordjournals.org>.
Deadline for submission of papers for the conference is March 10, 2015.
Authors will be notified regarding whether their paper has been accepted for presentation at
the conference by April 30, 2015.
The Journal of Financial Regulation is a peer-reviewed journal. Papers selected for
presentation at the conference are not guaranteed to be accepted for publication in the
Journal, but will be offered a fast-track peer review process. Non-acceptance of the paper for
the conference does not per se exclude a potential later consideration for publication in the
journal through the regular submission procedure.