Soft Law and the Global Financial System

1. The perils of global finance; 2. Territoriality and financial statecraft; 3. The architecture of international financial law; 4. A compliance-based theory of international financial law; 5. How legitimate is international financial law?; 6. Soft law and the global financial crisis; 7. The future of international financial law.

Chris Brummer is a Professor of Law at Georgetown University and a Senior Fellow at the Milken Institute. He has also taught, or is slated to teach, at several leading universities as a visiting professor, including the universities of Basel, Heidelberg and the London School of Economics. Brummer's writings have appeared in many leading journals including the California Law Review, the University of Chicago Law Review, the Georgetown Law Journal, the Southern California Law Review and the Vanderbilt Law Review. Before becoming a professor, he practised law in the New York and London offices of Cravath, Swaine and Moore LLP.

"In the wake of the worst global financial crisis since the Great Depression, academics, policymakers, and the public at large have been grappling with what went wrong and how to fix the financial system going forward. In Soft Law and the Global Financial System, Chris Brummer cogently explains how international financial law is developed and implemented at the international level. Rich in institutional detail, and informed by international relations theory, Soft Law and the Global Financial System deepens our understanding of international financial law-making just when we need it most." - Michael S. Barr, Professor of Law, University of Michigan Law School and former Assistant Secretary of the Treasury for Financial Institutions "An encyclopedic overview of the new international financial architecture, Soft Law and the Global Financial System offers a lucid and comprehensible introduction to the numerous regulatory bodies and coordinating networks that contribute to the oversight of global finance. Combining a lawyer's eye for the importance of institutional design and a realist's appreciation of the shifting balance of power in international capital markets, Professor Brummer presents an insightful analysis of the potential for and limits on the system of regulatory cooperation that has emerged in response to the global financial crisis. With this invaluable guide to the new financial architecture and the soft law upon which it is constructed, Professor Brummer has established himself as a leading expert on international finance and its supervision." - Howell E. Jackson, James S. Reid, Jr., Professor of Law, Harvard Law School "Brummer's Soft Law and the Global Financial System brings clarity to the otherwise opaque world of international finance. The book masterfully blends an understanding of law, politics, and business and both the international and domestic levels. Brummer not only lays bare the workings of the international financial system, but he also