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international finance materials 2022

Class Policies

The White House, United States Strategy on Countering Corruption (Dec. 2021)
John Heathershaw, Alexander Cooley, Tom Mayne, Casey Michel, Tena Prelec, Jason Sharman and Ricardo Soares de Oliveira, The UK’s Kleptocracy Problem: How Servicing Post-soviet Elites Weakens the Rule of Law, Chatham House Research Paper (Dec. 2021)
OECD, Recommendation of the Council for Further Combating Bribery of Foreign Public Officials in International Business Transactions (2009, amended 2021)
Lecture: International Finance: Corruption

General Introduction to the Class
International Finance Chapter 1: Introduction
Lecture: Chapter 1: Introduction (Financial Regulation and Harmonization)

Litigation Issues in International Financial Transactions
International Finance Materials Chapter 2: Transnational Investment in Securities
Lectures: Transnational Investment in Securities 1 Transnational Investment in Securities 2
International Finance: Sovereigns 1
International Finance: Sovereigns 2
ICMA Collective Action Clauses
International Finance: Sovereigns 3
Lectures: International Finance: Pari passu; International Finance: Sovereign Debt Issues; Standard Forms; Collective Action Clauses; Law Debenture v Ukraine; LAFB v Bankers’ Trust

Issues in Transnational Financial Regulation
Hilary J. Allen, Payments Failure, 62 Boston College Law Review 453 (2021)
Federal Reserve Policy on Payment System Risk (Oct. 2020)
Tanai Khiaonarong & Terry Goh, Fintech and Payments Regulation: Analytical Framework, IMF Working Paper WP/20/75 (May 29, 2020)
Alina Iancu et al, Reserve Currencies in an Evolving International Monetary System, IMF Strategy, Policy, & Review Department & Statistics Department Paper 20/02 (Nov. 17, 2020)
Lectures: Financial Markets Infrastructures

Financial Warfare, Compliance and International Finance: Sanctions, Money Laundering, Libor
International Finance: Sanctions 1
International Finance: Sanctions 2
Unicredit Bank Non-Prosecution Agreement (Apr. 15, 2019)
The Treasury 2021 Sanctions Review
International Finance: Compliance
Joel Suss, David Bholat, Alex Gillespie & Tom Reader, Organisational culture and Bank Risk, Bank of England Staff Working Paper 912 (Mar. 5, 2021)

Lectures: Sanctions: Transparency

1. Executive Order 14067, Ensuring Responsible Development of Digital Assets, 87 Fed. Reg. 14143 (Mar.14, 2022)
OFAC, Sanctions Compliance Guidance for the Virtual Currency Industry (Oct. 2021)
Bank of England, Financial Conduct Authority, Artificial Intelligence Public-Private Forum Final Report (Feb. 2022)
El Bachir Boukherouaa et al, Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance, IMF Departmental Paper, DP/2021/024 (Oct 2021)
OECD, Why Decentralised Finance (DeFi) Matters and the Policy Implications (2022)
There’s a video on this Deloitte Regtech Universe web page you may enjoy.

2. Cryptocurrency Regulation:
Prepared Remarks of Gary Gensler On Crypto Markets, Penn Law Capital Markets Association Annual Conference (Apr. 2022)
Ripple Case Presses Forward as Court Denies Motions to Dismiss and Strike, Baker Hostetler (March 16, 2022)
Proposal for a Regulation on on Markets in Crypto-assets, COM(2020) 593 final (Sep. 24, 2020) (pp 1-31- explanatory memorandum and recitals)

Federal Reserve, Money and Payments: The U.S. Dollar in the Age of Digital Transformation (Jan. 2022).
Fabio Panetta, (Speech) More than an intellectual game: exploring the monetary policy and financial stability implications of central bank digital currencies (Apr. 2022)
(if interested in exploring more, see, e.g., the BIS Inovation Hub)

Additional Reading:
Federal Reserve, Community Bank Access to Innovation through Partnerships (Sep. 2021)

MGL Powerpoint