Financial Regulation: Law and Policy (2d Edition) introduces the field of financial regulation in a new and accessible way. Even though a decade has passed since the most systemic financial crisis in the last 70 years and eight years have elapsed since a major shift in regulatory design, the world is still grappling with the aftermath. In addition, technology innovations, including Bitcoin and other cryptocurrencies, market forces and a changing political environment all have combined to reframe and reorient public debate over financial regulation. The book has kept up to date with all of these changes.

The book analyzes and compares the market and regulatory architecture of the entire U.S. financial sector as it exists today, from banks, insurance companies, and broker-dealers, to asset managers, complex financial conglomerates, and government-sponsored enterprises. The book explores a range of financial activities, from consumer finance and investment to payment systems, securitization, short-term wholesale funding, money markets, and derivatives. The book examines a range of regulatory techniques, including supervision, enforcement, and rule-writing, as well as crisis-fighting tools such as resolution and the lender of last resort. Throughout the book, the authors note the cross-border implications of U.S. rules, and compare, where appropriate, the U.S. financial regulatory framework and policy choices to those in other places around the globe, especially the European Union.

Visit the companion site for additional teaching materials, including Notes, Model Syllabi, Figures, and PowerPoint Slides.

For experiential materials accompanying the textbook, visit the authors’ site.


Imprint: Foundation Press
Series: University Casebook Series
Publication Date: 08/09/2018
Related Subject(s): Regulated Industries

Michael S. Barr, University of Michigan Law School

Howell E. Jackson, Harvard University Law School

Margaret E. Tahyar, Columbia University Law School

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The new edition incorporates two new chapters: one on the structure and consolidation of banking markets and a second on the regulation of retirement savings. It also incorporates extensive new materials on systemic risk, and on emerging issues in the business and regulation of payment services, including materials on Bitcoin and other cryptocurrencies. Finally, it includes important developments in the law, including regulatory policy of the Trump Administration, Congress, and newly appointed leadership of the financial regulatory agencies.

Learn more about this series.