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2021 Wallenberg Lecture: “The Iron Law of Financial Regulation”
The 2021 Wallenberg Lecture is taking place on 28 October 2021, online. The lecture, which will be delivered by Prof. Roberta Romano (Yale University and ECGI), will develop on Prof. Romano's earlier lecture series following the global financial crisis, which advocated a serious, comprehensive reassessment of financial regulation after a fixed period. With the benefit of information regarding the impact of regulatory alternatives available at the time of such a reassessment, errors and mismatched solutions that resulted from crisis-driven legislation can be reconsidered and rectified.

The lecture will review the components of what Prof. Romano terms the “iron law of financial regulation” - that following a crisis, legislators will act despite its being an importune time regarding the availability of information regarding a crisis’ causes and corresponding solutions, creating a complex, regulatory ratchet, increasing costs that can have adverse unintended consequences, and then provide preliminary findings regarding the empirical foundations for the iron law.

The lecture will be discussed by Prof. Franklin Allen, Professor of Finance and Economics and Executive Director of the Brevan Howard Centre at Imperial College London, and ECGI Fellow.

The Prizes for the best papers in the ECGI Working Paper Series' (Law and Finance) in 2020 will be awarded after the lecture, with a brief presentation of the papers by the authors.

Oct 28, 2021 04:00 PM in Brussels

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