The Changing Landscape of Global Financial Governance and the Role of Soft Law

The Changing Landscape of Global Financial Governance and the Role of Soft Law provides interdisciplinary perspectives on the changing landscape of global financial governance by exploring the impact and role of soft law, directly or as a precursor of hard law, pertaining to financial governance. Since the shaping of financial governance impacts national, regional and global levels of regulation, different views and arguments contribute to the ongoing discussions about financial regulation. Against this background, this book brings together perspectives of economists and lawyers who have not rallied to one or the other popular call for more regulation as a panacea for the prevention of future global financial crises, calls which have all but drowned out more nuanced scientific debates. Instead, their analysis of aspects of remedial regulatory policy prescriptions already made or proposed demonstrates that carefully designed soft law can be deployed as a valuable method or tool of mediation between the unrestrained autonomy of dysfunctional markets and overzealously crafted hard law.

Friedl Weiss is Professor emeritus of EU and International Economic Law, University of Vienna. He has been legal adviser and consultant in the EFTA and GATT Secretariats and has published widely, including EU Internal Market Law (2014); Das Recht der EU (2013); and International Law and Sustainable Development (2004).

Armin J. Kammel is Professor (FH) of Banking Law and Securities Regulation at Lauder Business School (LBS) in Vienna, Faculty Member and Ehrenprofessor (Honorary Professor) at the Department of Economic Law and European Integration at Danube University Krems as well as Adjunct Faculty Member at California Lutheran University (CLU). He has widely published in the areas of international and European banking law, securities regulation, capital markets and corporate law.