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The impact of globalisation on Australian finance law and financial services law

Horgan, Sharon (2012) The impact of globalisation on Australian finance law and financial services law. PhD thesis, Murdoch University.

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      Abstract

      This thesis examines the impact of globalisation on areas of innovative legislative change, policy development and law reform in Australian finance law and financial services law. ‘Globalisation’ has had extensive influence on the law reform and regulation affecting companies and corporations, financial services, fundraising, managed investments, takeovers, finance, disclosure issues, the futures industry and the securities industry. Australian finance law and financial services law reform also impacts on the areas of trusts and equity, property law, secured transactions law, administrative law and takeover law.

      Globalisation has been an influential factor since the 1990’s on Australian financial services and corporate law reform development in the context of the global financial system. The origin in the pre-globalisation era of the influence of globalisation on Australian domestic policy and law reform developments in finance law and financial services law is considered in this thesis. Since the 1990’s, a globalisation based focus arose from international banking and corporate developments, which resulted in extensive international statutory and policy changes. These changes have had considerable impact on Australian finance and financial services law reform and related areas of Australian law and policy.

      In addition, the role of globalisation and electronic commerce on Australian finance law and financial services law is considered in this thesis. This thesis analyses the nature of globalisation theory and the process of globalisation, which is designed to ensure a free movement of capitalism so that banking and financial entities would be able to facilitate industry as well as electronic commerce transactions. This interweaving of globalisation and electronic commerce (as a mechanism in globalisation) in the free international movement of capital and labour is intended to bolster international banking systems, economies and industries. In practice, this close relationship between globalisation, electronic commerce and domestic law reform/policy development has caused problems in times of economic crisis since the Global Financial Crisis began in 2007.

      The conclusions drawn in this thesis demonstrate the role that globalisation has had on the development of law and policy in Australia in finance law and financial services law.

      Publication Type: Thesis (PhD)
      Murdoch Affiliation: School of Law
      Supervisor: Moens, Gabriel
      URI: http://researchrepository.murdoch.edu.au/id/eprint/10691
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