This research cluster draws from the fields of law, economics and political science and provides an international forum for the exchange of ideas on issues of law and public policy with respect to the regulation of financial markets and institutions and commercial law in national, EU and international level. Please see our research areas.

Members

• Co-ordinator: Andromachi Georgosouli
• Dr Camilla Andersen
• Dr Daniel Attenborough
• Professor Erika Szyszczak
• Dr Dan Ladley

News and Events

FRCL/CELI Afternoon Seminars (programefor the academic year 2010-2011).

Christopher Bisping will present the first FRCL seminar on Wednesday 6 October 2010 at 13.00 in the Jan Grodecki Roo: 'Sand in the Wheels -Volcanic Ash, Passenger Rights and Contract law'

Abstract: In this paper I look at the role the general law of contract plays in a situation such as the recent (near) complete closure of air space. While passengers are granted extensive rights under EU law (Regulation 261/2004), I argue that the contracts for transportation are frustrated under general rules. As there are therefore no contracts subsisting the European Regulation is no longer operative. Even assuming that these rules do not require a subsisting contract, I trace a fundamental misunderstanding in the genesis of the Regulations which excludes the applicability of certain provisions in such severe circumstance

Dr Mel Kenny, ‘Abbey National in the context of Europeanised Private law’
Abstract: Abbey National contains a knot of domestic, doctrinal and European legal issues and provides a valuable insight into how the Common law deals with the ‘Europeanisation’ of private law. The case concerned the extent of bank charges, levied by financial institutions in respect of unauthorised overdrafts and challenged by customers because of their perceived unfairness under the Unfair Terms in Consumer Contracts Regulations 1999, regulations transposing Directive 93/13/EEC on Unfair Terms in Consumer Contracts. The case thus provides a national orchestration of a Europeanised standard of consumer protection in retail banking. In analysing these issues attention turns to: (1) domestic case-law and doctrine; (2) the German approach to bank charges as a counterpoint to analysis; (3) the tenor of ECJ case-law. Conclusions follow on doctrine, regulatory competence and jurisdiction as well as concerns on the coherence and integrity of the emergent Europeanised legal order. These developments are placed in the context of the Commission’s promotion of the codification agenda.

1 Decxember 2010: Paper presenter: Dr. Sean Thomas, 'A Comparative Analysis of Nemo Dat Exceptions Concerning Transfers of Documents of Title Under English Law and the Uniform Commercial Code'.
Abstract: This paper will consider the extent to which American law, represented by Article 7 of the UCC, provides a radically different structure for assessing which party should bear the risk of loss in a nemo dat conflict involving documents of title. Under English law, nemo dat conflicts concern documents of title are dealt with under the exact same provisions as those concerning goods (mercantile agency (Factors Act 1889 s2(1)); seller in possession (Factors Act 1889 s8, Sale of Goods Act 1979 s24); buyer in possession (Factors Act 1889 s9, Sale of Goods Act 1979 s25)). It is suggested that the American approach, which deals with documents of title disputes as necessarily distinct from those involving goods, provides a useful foundation for reform of the English nemo dat law, as it separates the purely commercial issue of documents of title from the more mixed issue of ownership of goods (consumers and non-consumers).

On 21st May, Prof John Armour (Lovells Professor of Law and Finance, Faculty of Law University of Oxford) will deliver a paper entitled 'The Berle Means Corporation in the 21st Century'. In the Autumn (date yet to be finalised) Prof Rosa Lastra (Centre for Commercial Law Studies, Queen Mary University of London) will talk about the 'The Pursuit of Stability: Lessons from the Financial Crisis 2007-2009'.

Research Areas

Its members conduct research which falls within the following thematic areas:

• Banking and securities regulation
• Regulation and financial stability
• International financial architecture
• European economic and monetary policy
• Corporate governance
• Pensions and insurance
• Competition Law
• Services of General Economic Interest
• Consumer protection and the regulation of financial inclusion
• International Commercial Law

These issues intersect with a range of other topics including the regulation of risk, public accountability and legitimacy, regulatory innovation, regulatory performance, compliance and enforcement strategies, and meta-regulation.