Private Governance of Financial Markets: the US Regulatory Regime on Hedge Funds

The article investigates the private governance of financial markets by looking at the evolution of the regulatory debate on hedge funds in the US market. It starts from the premise that the privatization of regulation is always the result of a political decision and analyzes how this decision came about and was implemented in the case of hedge funds. The starting point is the failure of two initiatives on hedge funds that US regulators launched between 1999 an 2004, which the analysis explains by elaborating the concept of self-capture. Facing a trade off between the need to tackle publicly demonized issues and the difficulty of monitoring increasingly sophisticated and powerful private markets, regulators purposefully designed initiatives that were not meant to succeed, that is, they “self-captured” their own activity. By formulating initiatives that were inherently flawed, regulators saved their public role and at the same time paved the way for the privatization of hedge fund regulation. This explanation identifies a link between the failure of public initiatives and the success of private ones. It illustrates a specific case of formation of private authority in financial markets that points to a more general practice emerging in the regulation of finance.

The Evolution of the Climate Change Regime: Beyond a North-South Divide?

This research primarily analyses relevant climate bargaining dynamics that have been informed by a North-South impasse. This working paper argues that the first stage of negotiations for a climate convention indeed witnessed a North-South divide which became institutionalized in the Framework Convention on Climate Change. However, in subsequent negotiation rounds the key loci of bargaining struggles was centered between developed countries, in which relevant North-South cooperation dynamics were also present. Finally, this paper assesses the unfinished post-Kyoto bargaining process in which two trends are already being observed: both the emergence of a new geopolitics between the United States and major developing countries, and a fragmentation process within the South, in which the Copenhagen Accord itself has begun to institutionalize such fragmentation.

Historical Profile of Water Regime in Switzerland (1870-2000).

Analyse comparée de la formation et des effets des régimes institutionnels de ressources naturelles en Suisse. Partant du constat de l'accroissement significatif et généralisé de la consommation des ressources naturelles, le projet a pour ambition d'examiner, dans le cas de la Suisse, quels sont les types de régimes institutionnels -régimes composés de l'ensemble des droits de propriété de disposition et d'usages s'appliquant aux différentes ressources naturelles, de même que des politiques publiques d'exploitation et de protection les régulant- susceptibles de prévenir des processus de surexploitation et de dégradation de ces ressources. Dans le cadre de ce projet de recherche financé par le Fonds national suisse de la recherche scientifique (FNRS), il s'agit, dans un premier temps, d'analyser les trajectoires historiques d'adaptation et de changements des régimes institutionnels des différentes ressources sur une durée d'environ un siècle (1900-2000). C'est l'objet des différents screenings. Dans un second temps et à l'aide d'études de cas, ces transformations de (ou au sein des) régimes institutionnels sont analysées sous l'angle de leurs effets sur l'état de la ressource. L'ambition finale de cette recherche est de comprendre les conditions l'émergence de "régimes intégrés" capables de prendre en compte un nombre croissant de groupes d'usagers agissant à différents niveaux (géographiques et institutionnels) et ayant des usages de plus en plus hétérogènes et concurrents de ces différentes ressources. Le champ empirique de la recherche porte plus particulièrement sur cinq ressources que sont: l'eau,l'air, le sol, le paysage et la forêt.

Nanomaterials in the European Union [the quest for a regulatory regime]

Mentre que les nanotecnologies s'espera que porti beneficis importants en molts sectors i contribuir a la competitivitat, hi ha un creixent cos de dades científiques que indiquin que hi ha motius raonables per témer que els nanomaterials en particular pot donar lloc a els possibles riscos i efectes nocius per a la salut i el medi ambient. El meu objectiu és examinar com la Unió Europea està donant forma a un règim regulatori per nanomaterials: l'opció regulatòria escollida, la legislació vigent aplicable i la seva eficàcia (amb especial atenció sobre REACH buits normatius), la posició adoptada per la els diferents actors en aquest procés i l'evolució prevista legal en el curt termini.

Dynamics of a paleoecosystem reef associated with oceanic change in carbonate sedimentary regime and carbon cycling (Oxfordian, Swiss Jura)

Herein we report an analysis of an Oxfordian (Upper Jurassic) paleoreef located in the Swiss Jura Mountains. The paleoreef is located in a Middle Oxfordian transitional interval in which sedimentation switched from marl-dominated to carbonate-dominated deposits. The paleoecosystem is composed of four successive fossil communities characterized by microsolenid corals and organisms that specialized in suspension feeding. Carbon isotopes measured from echinoid spine carbonates exhibit a positive trend from similar to 1.0 parts per thousand to 2.5 parts per thousand in delta(13)C values from the base to the top of the paleoreef. Comparison of delta(13)C curves with organic matter and belemnites shows different patterns not compatible with a global variation of the carbon cycle. Similar fossil assemblages and stratigraphic sequences identical in age are found along the continental margin of the Tethys-Atlantic Ocean. This biolithostratigraphic succession corresponds to increasing delta(13)C values of marine and biogenic carbonates, to the transition from marl-dominated to carbonate-dominated deposits, and to the development of carbonate platforms, which together suggest a change in the carbon cycling regime within the Tethys-Atlantic Ocean system.

Regulatory Reform of the International Education Sector and the Student Immigration Regime

Ireland has a strong reputation for delivery of high-quality education services both to our own citizens and those who come here from abroad. A degree from an Irish university, Institute of Technology or high-quality private sector provider is an indicator of significant educational achievement, highly valued by our students and employers alike. Ireland is also a specialist in high-quality English Language tuition. Many thousands of students from the EU and around the world come to Ireland for full-time or short-term programmes.

Anglo-American Feminism Made in France : crise et critique de la représentation

Cet article se propose d'analyser la nature et les modes de la résistance que rencontrent les productions intellectuelles anglo-américaines, en premier lieu dans le village des irréductibles Gauloises. Il examine comment la distribution d'oppo-sitions dichotomiques (entre essentialisme et constructivisme, antiféminisme et féminisme, sexe et genre) selon l'axe transatlantique permet aux féministes françaises non seulement de déconstruire ce que les Américaines ont appelé French Feminism, mais aussi, surtout, de se définir elles-mêmes contre le premier. La rhétorique binationale permet aussi aux féministes françaises d'anglo-américaniser les questions féministes autour du concept de genre. Reformuler « le problème genre » comme un problème de représentation, devrait permettre de mieux voir comment l'Anglo-American Feminism made in France contient une crise de la représentation parmi les féministes ici et maintenant. [- p. 163-189]

Political Humor as a confrontational tool against the Syrian regime: A study case: Syria, 15th March 2011 – 15th May 2012

The aim of this working paper is to analyze the inclusion of political humor into the set of actions used by opponents to the Syrian regime during the first year of a state-wide uprising in 2011. The research argues that although political humor has traditionally been seen mainly as a concealed voice against dominant elites, it can nevertheless take a confrontational stance and challenge a regime. In this paper we assess the role of political humor in challenging the legitimacy of the Syrian State through the battle for the signification of events. We will work with a theoretical framework that draws its assumptions from social movements’ studies and cultural studies. Through the assessment of the importance of discourse and the role of ideological domination to a regime we will see how the first year of the Syrian uprising included widespread acts of political humor as part of the strategy against the regime.

Front anglo-belge (bureau information) [chien équipé d'un masque à gaz] : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 57482