WELCOME TO THE CONFERENCE

Since June 2007, the global economy has been rocked by a financial crisis that Alan Greenspan, former chairman of the US Federal Reserve, has described as a ‘once-in-a-century event’, and the worst ‘by far’ that he has witnessed. Five years on, the end of the crisis is not yet in sight.

The financial crisis has called into question the adequacy of financial regulation at the national and supranational levels. Financial regulatory structure has now been considered a key issue behind the financial crisis and as such, a wave of financial regulatory reform has ensued in major markets overseas, including the enactment of the Dodd-Frank Act in the US and the plan to split the Financial Services Authority in the UK.

Hong Kong and Mainland China are no exceptions. In Hong Kong, the much-publicized Lehman Brothers minibond saga has prompted the Hong Kong government to reconsider its financial regulatory regime. Likewise, the Mainland has recently staged a reshuffle at the top financial regulators. Where are we now? Where do we go from here?

The aim of the conference is thus to examine the institutional structure reform of financial regulation presently going on at the international level, and thus policy implications for the local reforms in Hong Kong and Mainland China. The conference is jointly hosted by the CUHK Law Faculty’s Centre for Financial Regulation and Economic Development and the Duisenberg school of finance, Amsterdam, The Netherlands. The conference is proud to host a number of very distinguished speakers, including regulatory officials, practitioners, and academics, from the International Monetary Fund, the US, the UK, Australia, the Netherlands, Hong Kong, Mainland China and elsewhere.