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Alison Lui, Liverpool John Moores University,;
Priscila Vitoh, University of Leicester,

Since 2007 regulation of financial markets has evolved. Financial regulation became very topical in response to the Global Financial Crisis (2007-2010), which has brought the issues of regulation, supervision and crisis management to the forefront of legal, economic and policy debate. Furthermore, an increasing corpus of international financial ‘soft law’ such as Basel capital rules has emerged. Today, the economic system is experiencing new challenges in the wake of the Russian invasion of Ukraine such as high inflation, post-pandemic recovery, and sustainable investments.

However, the main focus of such efforts and initiatives at international level is still on financial stability. The concept of financial stability, brings together micro-prudential supervision and macro-prudential supervision, and highlights again the importance of central banks. The focus of macro-prudential supervision is the safety of the financial and economic system as a whole, the prevention of systemic risk. Micro-prudential supervision is the day-to-day supervision of individual financial institutions. The arrangements in regard to the allocation of macro- and micro- prudential supervision vary across countries, but as the IMF has documented, micro and macro policy makers must cooperate to create a virtuous financial ecosystem that can achieve a higher degree of financial stability.

Finally, the traditional functions of monetary sovereignty have been eroded by the fast progress of digitalisation. The evolution of payment systems is not risk-free, and it comes with the advent of a new tricotomy of virtual currencies: cryptocurrencies, stable coins and central bank digital currencies (CBDCs).

In light of the importance of financial stability, abstracts are particularly welcome from papers focused on specific issues relating to sustainable investments, central banks’ sustainable mandates, Fintech banks, virtual currencies, and business conduct rules such as anti-money laundering rules. However, abstracts are also invited from any general areas of Financial Regulation, FinTech and Corporate Governance. We encourage scholars and practitioners around the world to submit abstracts.

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