Roger McCormick, Managing Director, CCP Research Foundation,Chris Stears, Research Director, CCP Research Foundation
Roger McCormick is a past Director of the Sustainable Finance Project at London School of Economics and Political Science, and a past Visiting Professor at LSE. He is now the Managing Director of CCP Research Foundation .He retired from full-time private legal practice in 2004, having practised law in the City of London for nearly thirty years.
Chris Stears is a solicitor, a fellow of the Chartered Institute for Securities & Investment, Research Director at CCP Research Foundation and principal at Medius Consulting.
Introduction Part I: The General Context 1. Why Legal and Conduct Risk are Important: a Short History 2. Risk And Capital 3. Legal and Conduct Risk in the London Market 4. The Global Context 5. The Lawmaker, the Regulator, and Current Preoccupations Part II: The Global Financial Crisis of 2007-2009 6. Market and Regulatory Failure 7. The Initial Impact of the Financial Crisis on Financial Markets 8. The Initial Legal and Regulatory Responses to the Crisis in the UK 9. The Initial Response to the Financial Crisis by the EU and Elsewhere Part III: The Conduct Crisis 10. The Impact of the LIBOR Scandal: Concerns about Misconduct & Findings of the Conduct Costs Project 11. Sustainability, Responsibility, Public Trust, Ethical Drift and the "Social Licence" Concept 12. Ethics & Banking Standards Part IV: Regulatory and other Developments in the UK 2010-2016 13. The Financial Services Act 2012: Changes to Regulatory Architecture 14. Financial Services (Banking Reform) Act 2013 15. Individual Accountability 16. General Legal and Conduct Risk Implications of the Crises and Regulator-led Redress Part V: Legal and Conduct Risk In Interconnected Financial Markets 17. Legal and Conduct Risk in a Globalizing Financial Market 18. The Role of International Institutions in Financial Law Reform 19. Brexit Part VI: Early Perceptions of Legal Risk 20. A Landmark Case and its Aftermath 21. A Case of Conceptual Impossibility 22. Settling Differences Part VII: Characteristics of Legal and Conduct Risk 23. Definition and Definitional Challenges 24. Sources: Both Definitive and Intangible 25. Causation Part VIII: Examples of Legal Risk 26. Property Interests in Indirectly Held Investment Securities 27. Vague Laws 28. Recharacterisation Part IX: Legal and Conduct Risk Management 29. The Essentials of Legal and Conduct Risk Management 30. Lawyers Responsibility for the Management of Legal (and Conduct) Risk 31. The Evolution of Metrics in Conduct Risk and Reputational Management: Predictions and Perception 32. The 'Best Practice' Defence, the Value in Disclosure and Greay Area Testing & Standards 33. Conclusions Appendices