Connelly, Stephen (2016) When overseeing becomes overlooking : the post-GFC reconfigurations of international finance. Journal of Corporate Law Studies, 16 (2). pp. 403-435. doi:10.1080/14735970.2016.1191930

Preview

PDF WRAP-When overseeing-finance-Connelly-2017.pdf - Accepted Version - Requires a PDF viewer. Download (911Kb) | Preview

Request Changes to record.

Abstract

This article draws on empirical evidence suggesting a shift of credit provision from banks to the alternative investment fund sector to argue that current deficiencies in fund regulation have not prevented such a shift, if not actually encouraged it. The evidence is drawn from the new Pan-European Private Placement Market, and first- and second-order analyses are undertaken to show a shift of credit risk (intermediation) into the hands of US funds in particular, and a concentration of risk amongst herds of smaller funds which have the potential to act as one. The data highlight defects in the scope of the macroprudential oversight mechanisms deriving from the Alternative Investment Fund Management Directive (AIFMD). These findings form the basis for proposals to remedy AIFMD as part of the move to a Capital Markets Union.

Item Type:	Journal Article
Subjects:	K Law > K Law (General) K Law > KD England and Wales K Law > KJ-KKZ European law
Divisions:	Faculty of Social Sciences > School of Law
Journal or Publication Title:	Journal of Corporate Law Studies
Publisher:	Taylor & Francis
ISSN:	1473-5970
Official Date:	23 June 2016
Dates:	Date Event 23 June 2016 Published 16 May 2016 Accepted
Volume:	16
Number:	2
Page Range:	pp. 403-435
DOI:	10.1080/14735970.2016.1191930
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access

Request changes or add full text files to a record

Repository staff actions (login required)

View Item

Downloads