全球金融法的诞生
周仲飞全球金融法的诞生
Birth of Global Financial Law
期刊名称:《法学研究》
期刊年份:
作者:周仲飞
单位:上海财经大学法学院
中文关键词:全球金融法;全球金融治理;软法;国际金融监管标准
英文关键词:global financial law;global financial governance;soft law;international financial regulatory standards
中文摘要:
全球金融业长期以来由作为国际软法的国际金融监管标准而非国际公约予以规范,但多次金融危机反映了不完善的全球金融治理下产生的国际金融监管标准难以预防金融危机的发生。2008年后随着以20国集团首脑峰会为核心的全球金融治理的重构,首脑峰会承认的国际金融监管标准具有了作为法所需要的国家意志性、正当性和强制性,这些国际金融监管标准也成为了全球金融法。
英文摘要:
The global financial crisis erupted in 2007 reflects the drawbacks both in international financial standards arising from their “softness” as international soft law and inherent in global financial governance. Since 2008, new global financial governance structure has been formed with G20 summit being the core, participated in by international financial standard setting bodies. Under the new structure, with some of international financial standards endorsed by G20 summit, they become promises made by G20 states and are granted the will of the states. The increasing enhancement of representation, accountability and transparency of global financial governance institutions solves the issue of “legitimacy deficit” of international financial standards. The availability of institutionalized mechanisms for implementation and sanction at the international level enables international financial standards to be de facto mandatory.All of these provide evidences that international financial standards endorsed by G20 summit have been no longer soft law depending on the voluntary implementation by countries, but global financial law which satisfies the sine qua non of international hard law. However, global financial law as a law need much to be improved, such as strengthening the influence of developing countries in global financial governance institutions, proper arrangements for global financial standard setting bodies and their responsibilities to enhance their legitimacy, and use of more mandatory sanctions.
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