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Relief and rescue : suspensions and elasticity in financial regulation, and lessons from the UK’s management of the Covid-19 pandemic crisis
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Chiu, Iris H-Y., Kokkinis, Andreas and Miglionico, Andrea (2021) Relief and rescue : suspensions and elasticity in financial regulation, and lessons from the UK’s management of the Covid-19 pandemic crisis. The Journal of Law and Policy, 64 (1). 9. ISSN 1943-0000.
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Official URL: https://openscholarship.wustl.edu/law_journal_law_...
Abstract
This Article analyzes the UK’s approach to handling the economic impact of COVID-19, offering insight for developed financial jurisdictions embarking on regulatory suspensions. When existing law no longer meets overarching policy goals such as financial stability, regulators resort to the theorization of legal elasticity. This Article situates regulatory suspension within this theory analyzing the tensions, hazards, and accompanying decision-making frameworks. The authors make three proposals for deployment of legal elasticity by regulators: (1) evaluate institutional stability; (2) engage in relational paradigms with relevant agencies, entities, and stakeholders; and (3) establish ex ante frameworks for crisis management and the potential use of legal elasticity.
Item Type: | Journal Article | ||||||||
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Divisions: | Faculty of Social Sciences > School of Law | ||||||||
Journal or Publication Title: | The Journal of Law and Policy | ||||||||
Publisher: | Washington University, School of Law | ||||||||
ISSN: | 1943-0000 | ||||||||
Official Date: | 2021 | ||||||||
Dates: |
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Volume: | 64 | ||||||||
Number: | 1 | ||||||||
Article Number: | 9 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | Published | ||||||||
Access rights to Published version: | Open Access (Creative Commons) | ||||||||
Date of first compliant deposit: | 4 September 2020 | ||||||||
Date of first compliant Open Access: | 16 September 2020 | ||||||||
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