'We are all macro-prudentialists now': the brave new world of systemic risk *

Canada - June 25 2012
It wasn’t long after the immediate, frenzied response to the financial crisis that governments and regulators began to turn their minds to the fault lines that had been exposed in the financial system as a whole and to ways in which these could and should be addressed.

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The Bulk Sales Act and securitization transactions *

Canada - June 20 2012
Rarely do judicial decisions arising under bulk sales legislation garner much attention.

Co-authors: Mark E. McElheran.

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Risk retention redux: the international context *

Canada - May 7 2012
In comparison to the ongoing regulatory onslaught in Europe and the United States, we in Canada appear to have gotten off pretty lightly and may even have felt that this was completely justifiable given our country’s performance and the high performance standards maintained by Canadian assets throughout the financial crisis.

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Regulatory overkill, Canadian style *

Canada - November 25 2011
Last week, I highlighted regulatory overkill in the U.S. where, together, Congress and the SEC have proposed scorched earth solutions to the issues raised by the financial crisis. 

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Regulatory overkill, American style *

Canada - November 18 2011
Emerging from the vast literature generated by the recent financial crisis are two competing narratives attempting to identify the root cause of the crisis.

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