International Regulatory Cooperation: An Analysis of Standard Setting in Financial Law

One lesson of the financial crisis is that globally interconnected markets require a more intense international cooperation and coordination. This thesis outlines a framework for analyzing international standard setting in financial law. It provides an overview of dominant theoretical propositions and suggests a broader - more “realist” - stance to analyzing interstate cooperation. The book intends to give the reader a better impression of the international financial architecture and highlights why a distinction between hard/soft law cannot be convincingly upheld in international finance. Moreover, a thorough review addresses often heard accountability and legitimacy critique. In casting a glance at the future, the book highlights inter alia a trend for regulatory inconsistency and carves out strategy proposals for national regulators.