Alexandra G. Balmer on the cat-and-mouse game between regulator and the financial markets.

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Giuseppe Eusepi and Richard E. Wagner give an analysis on Public Debt. […]

The global financial crisis of 2008-2009 resulted in a flood of litigation concerning financial collateral much of it connected with the collapse of Lehman Brothers International (Europe) as well as attempts to reform the law and regulatory practice to avoid institutions seeking state support in the future as being ‘too big to fail’.   Financial collateral has become a crucial tool to enable market participants and central counterparties to manage credit risk. Its use will grow further as the European Markets Infrastructure Regulation (‘EMIR’) is implemented. Both centrally cleared and non-centrally cleared transactions will need to be supported by collateral. The law of financial collateral, particularly in cross-border transactions, is relatively new deriving in Europe from the European Financial Collateral Directive (‘FCD’) implemented in the UK by the Financial Collateral Arrangements (No 2) Regulations 2003 (‘FCARs’). Geoffrey Yeowart and Robin Parsons explain some of the questions arising.

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A Ponzi scheme is one of the simplest of financial frauds. The promoter promises investors an attractive return on investment and declares it to be secure, but in reality no real ‘investment’ takes place. Mervyn Lewis goes on to discuss.

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Many countries around the world are currently facing a transport infrastructure backlog of substantial proportions – it is rare to find a city, for example, that does not find itself in this situation, for roads, public transport or both. Public Private Partnerships (PPP) are a common response for roads, with tolling opportunities to remove or reduce the impact on a government’s balance sheet. However, PPP opportunities usually entail some loss of network control and are limited in potential scope.

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