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BCLB/LEAP Leadership Lunch Talk: Lily Vo; U.S. SEC — Regulating the Shadow Banking Sector
Thursday, September 19, 2019 @ 12:45 pm - 1:45 pm
In collaboration with Berkeley’s new Law, Economics and Politics Center (LEAP) we bring to you a conversation with Lily Vo, attorney-adviser at the U.S. Securities and Exchange Commission (SEC)’s Office of International Affairs. Introduction by Prof. Stavros Gadinis of Berkeley Law.
The Financial Crisis of 2008—which resulted in the loss of over 8 million jobs, nearly 4 million home foreclosures, and a $700 billion government bailout of financial institutions—was triggered largely by “shadow banks,” or lightly regulated non-bank financial entities. In response to the crisis, the US Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which mandated hundreds of new rule makings by federal regulatory agencies. However, questions have been raised about the efficacy of existing regulations and whether these regulations are sufficient to prevent, or at least mitigate the effects of, future financial crises. This presentation will examine the remaining risks to the financial system arising from the shadow banking sector, as well as potential policy solutions. The speaker will suggest (1) improving government efficiency, (2) collecting more comprehensive and useful data on the shadow banking sector, (3) additional oversight of shadow banking entities, and (4) contingency planning for another financial crisis.
Lunch provided on a first-come, first-served basis. Co-sponsored by the Berkeley Business Law Journal.
Register here: https://conta.cc/32zvORd
Events are wheelchair accessible. For disability-related accommodations, contact the organizer of the event. Advance notice is kindly requested.
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