Pub Date : 2022-04-03DOI: 10.1080/17521440.2023.2191788
Tommy C. K. Leung, Heather M. F. Lee, Tony K. F. Chan
ABSTRACT This article discusses the recent extensive reforms on gender diversity rules in Hong Kong and the related possible challenges facing the listed companies and the regulators in implementing the reforms, with reference to those listing measures in the United Kingdom, the United States and the People’s Republic of China, particularly the United Kingdom from which Hong Kong has inherited its legal system. Several listed companies in Hong Kong are also randomly selected as samples for examination to evaluate the effectiveness and limitations of previous reforms on gender diversity launched in Hong Kong. It is suggested that clear, measurable and achievable targets are launched in phases, together with regular reviews and progress disclosures. More detailed guidance and regular communication with issuers on gender diversity should be provided to show strong top-level commitment from regulators/government for a sustainable development for diversity not only on boards but also in senior management and across the wider workforce.
{"title":"A roadmap to gender diversity among Hong Kong boards in the financial market","authors":"Tommy C. K. Leung, Heather M. F. Lee, Tony K. F. Chan","doi":"10.1080/17521440.2023.2191788","DOIUrl":"https://doi.org/10.1080/17521440.2023.2191788","url":null,"abstract":"ABSTRACT This article discusses the recent extensive reforms on gender diversity rules in Hong Kong and the related possible challenges facing the listed companies and the regulators in implementing the reforms, with reference to those listing measures in the United Kingdom, the United States and the People’s Republic of China, particularly the United Kingdom from which Hong Kong has inherited its legal system. Several listed companies in Hong Kong are also randomly selected as samples for examination to evaluate the effectiveness and limitations of previous reforms on gender diversity launched in Hong Kong. It is suggested that clear, measurable and achievable targets are launched in phases, together with regular reviews and progress disclosures. More detailed guidance and regular communication with issuers on gender diversity should be provided to show strong top-level commitment from regulators/government for a sustainable development for diversity not only on boards but also in senior management and across the wider workforce.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"16 1","pages":"162 - 176"},"PeriodicalIF":0.0,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48586647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-03DOI: 10.1080/17521440.2023.2174814
M. Schillig
ABSTRACT The paper discusses whether and to what extent the key constituencies of a ‘typical’ DAO can be qualified as a partnership under English law. It explores the defining features of a ‘typical’ DAO and its key constituencies; gives a brief overview of the various types of business organisation available under English law; addresses the question of private international partnership law; and then analyses whether the key stakeholder constituencies in a DAO meet the conditions set out in the Partnership Act 1890 for qualifying as a partnership.
{"title":"Decentralized Autonomous Organizations (DAOs) under English law","authors":"M. Schillig","doi":"10.1080/17521440.2023.2174814","DOIUrl":"https://doi.org/10.1080/17521440.2023.2174814","url":null,"abstract":"ABSTRACT The paper discusses whether and to what extent the key constituencies of a ‘typical’ DAO can be qualified as a partnership under English law. It explores the defining features of a ‘typical’ DAO and its key constituencies; gives a brief overview of the various types of business organisation available under English law; addresses the question of private international partnership law; and then analyses whether the key stakeholder constituencies in a DAO meet the conditions set out in the Partnership Act 1890 for qualifying as a partnership.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"16 1","pages":"68 - 78"},"PeriodicalIF":0.0,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47426323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-03DOI: 10.1080/17521440.2022.2150524
Lerong Lu, A. Keller
ABSTRACT The ongoing Evergrande debt crisis has been widely dubbed as China’s Lehman Brothers moment as the Chinese corporate conglomerate failed to pay interest on its corporate debt worth £228bn. The case of Evergrande reflects the tightly intertwined links between financial markets and the real economy as well as the fragile balance between financial stability and economic growth that policymakers often find difficult to strike. It also exposes the interconnections between financial stability and investor protection and the multifaceted nature of investors both on-shore and off-shore ranging from global banks and asset managers to vulnerable consumers who have spent their lifesaving in pre-sale purchases. The combination of these unique features provides a fruitful ground for exploring the legal and regulatory challenges, in particular with regard to the protection of domestic and offshore financial investors, monitoring risks to financial stability in China and potential spillover effects.
{"title":"Is it China’s Lehman Brothers moment? Unveiling Evergrande debt crisis, financial risks, and regulatory implications","authors":"Lerong Lu, A. Keller","doi":"10.1080/17521440.2022.2150524","DOIUrl":"https://doi.org/10.1080/17521440.2022.2150524","url":null,"abstract":"ABSTRACT The ongoing Evergrande debt crisis has been widely dubbed as China’s Lehman Brothers moment as the Chinese corporate conglomerate failed to pay interest on its corporate debt worth £228bn. The case of Evergrande reflects the tightly intertwined links between financial markets and the real economy as well as the fragile balance between financial stability and economic growth that policymakers often find difficult to strike. It also exposes the interconnections between financial stability and investor protection and the multifaceted nature of investors both on-shore and off-shore ranging from global banks and asset managers to vulnerable consumers who have spent their lifesaving in pre-sale purchases. The combination of these unique features provides a fruitful ground for exploring the legal and regulatory challenges, in particular with regard to the protection of domestic and offshore financial investors, monitoring risks to financial stability in China and potential spillover effects.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"16 1","pages":"133 - 144"},"PeriodicalIF":0.0,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42063874","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-03DOI: 10.1080/17521440.2022.2159770
Catarina Saramago
ABSTRACT Distributed ledger technologies (DLTs) are expected to disrupt the corporate finance field by offering a cheaper, quicker and simpler funding alternative for companies, thus playing a relevant role in improving access to the financial markets. This paper seeks to test this premise. Based on information collected from advisors in two transactions completed in the market, the paper compares the process of a traditional international bond issue with one on a DLT platform. The paper clarifies how a DLT-based bond issue is conducted in practice and concludes that such issues are not more affordable or time efficient and are equally complex when compared to a conventional issue. These conclusions are, however, limited in scope due to the case study methodolody adopted. The conclusions may also be impacted by the analysis of legal matters beyond the process of issuance and by the consideration of quantitative data concerning the costs incurred with the issue.
{"title":"Using distributed ledger technologies for bond issues – a primer","authors":"Catarina Saramago","doi":"10.1080/17521440.2022.2159770","DOIUrl":"https://doi.org/10.1080/17521440.2022.2159770","url":null,"abstract":"ABSTRACT Distributed ledger technologies (DLTs) are expected to disrupt the corporate finance field by offering a cheaper, quicker and simpler funding alternative for companies, thus playing a relevant role in improving access to the financial markets. This paper seeks to test this premise. Based on information collected from advisors in two transactions completed in the market, the paper compares the process of a traditional international bond issue with one on a DLT platform. The paper clarifies how a DLT-based bond issue is conducted in practice and concludes that such issues are not more affordable or time efficient and are equally complex when compared to a conventional issue. These conclusions are, however, limited in scope due to the case study methodolody adopted. The conclusions may also be impacted by the analysis of legal matters beyond the process of issuance and by the consideration of quantitative data concerning the costs incurred with the issue.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"16 1","pages":"43 - 67"},"PeriodicalIF":0.0,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43181774","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-10-02DOI: 10.1080/17521440.2023.2168940
G. Spindler
ABSTRACT Credit scoring is one of the main applications of Artificial Intelligence technology in the financial world. However, there are scarcely any regulations which deal with AI. The new proposal of an AI Act of the EU Commission may change this landscape in a significant way. The article deals with the impact of the proposed AI Act regarding credit scoring, considering also existing banking regulation and its overlaps with the proposed AI Act. Finally, the new proposal of a Consumer Credit Directive will be also dealt showing some frictions between the AI Act and the proposed Consumer Credit Directive.
{"title":"Algorithms, credit scoring, and the new proposals of the EU for an AI Act and on a Consumer Credit Directive","authors":"G. Spindler","doi":"10.1080/17521440.2023.2168940","DOIUrl":"https://doi.org/10.1080/17521440.2023.2168940","url":null,"abstract":"ABSTRACT Credit scoring is one of the main applications of Artificial Intelligence technology in the financial world. However, there are scarcely any regulations which deal with AI. The new proposal of an AI Act of the EU Commission may change this landscape in a significant way. The article deals with the impact of the proposed AI Act regarding credit scoring, considering also existing banking regulation and its overlaps with the proposed AI Act. Finally, the new proposal of a Consumer Credit Directive will be also dealt showing some frictions between the AI Act and the proposed Consumer Credit Directive.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"15 1","pages":"239 - 261"},"PeriodicalIF":0.0,"publicationDate":"2021-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48001997","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-10-02DOI: 10.1080/17521440.2023.2174381
K. Sein
ABSTRACT The article analyses some of the core rules suggested for crowdfunding credit services in the proposal of the new Consumer Credit Directive, concentrating on the information obligations towards consumers, the obligation of creditworthiness assessment, and the newly introduced principle of non-discrimination. It concludes that whereas the suggested rules would help to raise the consumer protection level in the EU, it does not adequately address all the risks created by these services nor provide the consumers borrowing over such platforms with the same level of protection as consumers taking out ‘normal’ consumer credit. Placing information obligations and the obligation to assess consumers’ creditworthiness to crowdfunding credit services providers is justified due to the gatekeeper position of the platforms. The introduction of the non-discrimination principle, however, would create an obligation to contract for the crowdfunding credit services providers and expose them to the risks of litigation in all Member States.
{"title":"Crowdfunding credit services under the new proposal for a new Directive on Consumer Credits","authors":"K. Sein","doi":"10.1080/17521440.2023.2174381","DOIUrl":"https://doi.org/10.1080/17521440.2023.2174381","url":null,"abstract":"ABSTRACT The article analyses some of the core rules suggested for crowdfunding credit services in the proposal of the new Consumer Credit Directive, concentrating on the information obligations towards consumers, the obligation of creditworthiness assessment, and the newly introduced principle of non-discrimination. It concludes that whereas the suggested rules would help to raise the consumer protection level in the EU, it does not adequately address all the risks created by these services nor provide the consumers borrowing over such platforms with the same level of protection as consumers taking out ‘normal’ consumer credit. Placing information obligations and the obligation to assess consumers’ creditworthiness to crowdfunding credit services providers is justified due to the gatekeeper position of the platforms. The introduction of the non-discrimination principle, however, would create an obligation to contract for the crowdfunding credit services providers and expose them to the risks of litigation in all Member States.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"15 1","pages":"221 - 238"},"PeriodicalIF":0.0,"publicationDate":"2021-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45414175","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-10-02DOI: 10.1080/17521440.2023.2196027
J. Paterson
ABSTRACT 'Robo-advisers' are digital tools that provide automated, personalised advice to consumers. The uses of robo-advisers, and the sophistication of the technologies behind them, are growing. One field in which robo-advisers have already become prominent is financial services, where they are being used to provide credit, budgeting, insurance and investment advice. Professional advisers are subject to a general law duty of reasonable care, which overlaps with requirements of suitability or best interests commonly imposed under financial services legislation. This article considers how these kinds of duties should be interpreted in applying to financial robo-advisers. It argues that the legal duty of reasonable care for automated financial advice requires regard not only to the risks familiar from human advisers, of self-interested or poorly suited recommendations, but also the risks arising from the use of digital technology in providing advice, including the possibility of misunderstandings in interactions with consumers, and arising from inaccurate, opaque and possibly biased models.
{"title":"Making robo-advisers careful? Duties of care in providing automated financial advice to consumers","authors":"J. Paterson","doi":"10.1080/17521440.2023.2196027","DOIUrl":"https://doi.org/10.1080/17521440.2023.2196027","url":null,"abstract":"ABSTRACT 'Robo-advisers' are digital tools that provide automated, personalised advice to consumers. The uses of robo-advisers, and the sophistication of the technologies behind them, are growing. One field in which robo-advisers have already become prominent is financial services, where they are being used to provide credit, budgeting, insurance and investment advice. Professional advisers are subject to a general law duty of reasonable care, which overlaps with requirements of suitability or best interests commonly imposed under financial services legislation. This article considers how these kinds of duties should be interpreted in applying to financial robo-advisers. It argues that the legal duty of reasonable care for automated financial advice requires regard not only to the risks familiar from human advisers, of self-interested or poorly suited recommendations, but also the risks arising from the use of digital technology in providing advice, including the possibility of misunderstandings in interactions with consumers, and arising from inaccurate, opaque and possibly biased models.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"15 1","pages":"278 - 295"},"PeriodicalIF":0.0,"publicationDate":"2021-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43495566","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-10-02DOI: 10.1080/17521440.2023.2214710
G. Howells
On 7–8 July 2022 a group of lawyers gathered in Galway, Ireland, for a roundtable discussion supported by the University of Galway on the Impact of Technology on Consumer Credit and Financial Services. As the title suggests, the matters that were upmost in their mind were the impact of technology on those sectors. The EU Proposal to amend the Directive on Consumer Credits (COM(2021) 347 final) figured large in the discussion from European participants. There were also Australian lawyers round the table. This special issue includes some of the papers presented at that roundtable. The Consumer Credit Directive is still awaiting adoption. Olha Cherednychencko in her paper ‘The proposal for a new EU Consumer Credit Directive: towards responsible lending in the digital age?’ provides a broad overview of how the reformed Consumer Credit Directive will assist promomoting responsible lending. Her assessment is generally favourable, subject to there being effective enforcement. Peter Rott, in ‘Small credits through online platforms’, focuses on small credits, many of which had been excluded under the 2008 Consumer Credit Directive because of the 200 euro threshold. He notes that the reform will enhance protective measures and that national laws can already provide some protection, but this vulnerable group of consumers may need the support of effective collective action mechanisms. Crowdfunding is a novel means of providing credit and yet provision to consumers is excluded from the current EU Crowdfunding Regulation. Karin Sein analyses in ‘Crowdfunding credit services under the new proposal for a directive on consumer credits’ the extent to which the proposed new Consumer Credit Directive will regulate crowdfunding and comments on the justifications for the selective application of measures. She notes that the non-discrimination principle might be problematic if it required loans be made across borders, but is pleased this will most likely not be included in the final Directive. Gerald Spindler uses his paper on ‘Algorithms, credit scoring, and the new proposal of the EU for an AI-Act’ to explore how various EU laws regulate the practice of using algorithms in credit scoring. Whilst these new techniques offer ways to enhance credit scoring they carry with them risks for consumers. Whereas the AI Act will be the main source of substantive regulation other laws will also apply, such as the proposed revised Consumer Credit Directive. A key issue will be the extent to which the trade secrets inherent within the choice of algorithm will be unlocked. Two papers deal with robo-advisers. Reinhard Steennot in ‘Robo advisory services and investor protection’ notes the advantages they might offer to new and young investors who otherwise might have no assistance. However, the assistance they offer should be explained so as the help they can provide is not overstated and they should take steps to be able to provide suitable advice. If unsuitable advice is given them
{"title":"Editorial","authors":"G. Howells","doi":"10.1080/17521440.2023.2214710","DOIUrl":"https://doi.org/10.1080/17521440.2023.2214710","url":null,"abstract":"On 7–8 July 2022 a group of lawyers gathered in Galway, Ireland, for a roundtable discussion supported by the University of Galway on the Impact of Technology on Consumer Credit and Financial Services. As the title suggests, the matters that were upmost in their mind were the impact of technology on those sectors. The EU Proposal to amend the Directive on Consumer Credits (COM(2021) 347 final) figured large in the discussion from European participants. There were also Australian lawyers round the table. This special issue includes some of the papers presented at that roundtable. The Consumer Credit Directive is still awaiting adoption. Olha Cherednychencko in her paper ‘The proposal for a new EU Consumer Credit Directive: towards responsible lending in the digital age?’ provides a broad overview of how the reformed Consumer Credit Directive will assist promomoting responsible lending. Her assessment is generally favourable, subject to there being effective enforcement. Peter Rott, in ‘Small credits through online platforms’, focuses on small credits, many of which had been excluded under the 2008 Consumer Credit Directive because of the 200 euro threshold. He notes that the reform will enhance protective measures and that national laws can already provide some protection, but this vulnerable group of consumers may need the support of effective collective action mechanisms. Crowdfunding is a novel means of providing credit and yet provision to consumers is excluded from the current EU Crowdfunding Regulation. Karin Sein analyses in ‘Crowdfunding credit services under the new proposal for a directive on consumer credits’ the extent to which the proposed new Consumer Credit Directive will regulate crowdfunding and comments on the justifications for the selective application of measures. She notes that the non-discrimination principle might be problematic if it required loans be made across borders, but is pleased this will most likely not be included in the final Directive. Gerald Spindler uses his paper on ‘Algorithms, credit scoring, and the new proposal of the EU for an AI-Act’ to explore how various EU laws regulate the practice of using algorithms in credit scoring. Whilst these new techniques offer ways to enhance credit scoring they carry with them risks for consumers. Whereas the AI Act will be the main source of substantive regulation other laws will also apply, such as the proposed revised Consumer Credit Directive. A key issue will be the extent to which the trade secrets inherent within the choice of algorithm will be unlocked. Two papers deal with robo-advisers. Reinhard Steennot in ‘Robo advisory services and investor protection’ notes the advantages they might offer to new and young investors who otherwise might have no assistance. However, the assistance they offer should be explained so as the help they can provide is not overstated and they should take steps to be able to provide suitable advice. If unsuitable advice is given them ","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"15 1","pages":"181 - 182"},"PeriodicalIF":0.0,"publicationDate":"2021-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49292600","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-10-02DOI: 10.1080/17521440.2023.2167523
P. Rott
ABSTRACT Small credit through online platforms bears the risk of excessive interest rates, high hidden costs and ruthless debt collection practices. At the EU level, they are partly unregulated, whereas Member States have taken specific measures to manage the risk or avail of general concepts of law that can be applied to small credit. Using specific credit offers for the sake of illustration, this article flags up relevant problems with small credit and current approaches to solve them. It also considers the current reform of the Consumer Credit Directive, which is expected to be adopted in 2023, and its potential effect on small credit providers. It concludes that substantive law already offers reasonable protection, and it will improve with the new Consumer Credit Directive, although there is much legal uncertainty in many usury laws. There is, however, a serious enforcement problem that allows dubious lenders to apply unlawful practices.
{"title":"Small credit through online platforms","authors":"P. Rott","doi":"10.1080/17521440.2023.2167523","DOIUrl":"https://doi.org/10.1080/17521440.2023.2167523","url":null,"abstract":"ABSTRACT Small credit through online platforms bears the risk of excessive interest rates, high hidden costs and ruthless debt collection practices. At the EU level, they are partly unregulated, whereas Member States have taken specific measures to manage the risk or avail of general concepts of law that can be applied to small credit. Using specific credit offers for the sake of illustration, this article flags up relevant problems with small credit and current approaches to solve them. It also considers the current reform of the Consumer Credit Directive, which is expected to be adopted in 2023, and its potential effect on small credit providers. It concludes that substantive law already offers reasonable protection, and it will improve with the new Consumer Credit Directive, although there is much legal uncertainty in many usury laws. There is, however, a serious enforcement problem that allows dubious lenders to apply unlawful practices.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"15 1","pages":"207 - 220"},"PeriodicalIF":0.0,"publicationDate":"2021-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42968821","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-10-02DOI: 10.1080/17521440.2023.2167524
I. Paterson
ABSTRACT Debt capital markets may provide useful investment opportunities for retail investors. Technological developments will continue to shape how those markets are intermediated and pose questions as to how they should best be regulated. The article considers the role of technology in reducing risks inherent in debt markets and how it might be applied to maintaining or improving existing standards for the benefit of investors in the context of Australian law.
{"title":"Technology and the future of the retail bond markets – an Australian perspective","authors":"I. Paterson","doi":"10.1080/17521440.2023.2167524","DOIUrl":"https://doi.org/10.1080/17521440.2023.2167524","url":null,"abstract":"ABSTRACT Debt capital markets may provide useful investment opportunities for retail investors. Technological developments will continue to shape how those markets are intermediated and pose questions as to how they should best be regulated. The article considers the role of technology in reducing risks inherent in debt markets and how it might be applied to maintaining or improving existing standards for the benefit of investors in the context of Australian law.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"15 1","pages":"296 - 311"},"PeriodicalIF":0.0,"publicationDate":"2021-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43789739","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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