Under the conventional approach, banks are special corporations requiring special regulation. The failure of a bank not only affects its owners and creditors, as with any other corporation. It also endangers the public’s confidence in the stability of other banks, thus impacting the overall banking sector, and, in turn, the economy as a whole. Such a problem, which is essentially a public one, justifies regulating banks beyond the requirements of corporate law. However, the traditional division between banking regulation and corporate law has been altered by the most recent developments in both. In the wake of the global financial crisis, banking regulation has introduced a particular focus on the corporate arrangements of banks as a tool to pursue its public goals. In more recent times, the conventional view of corporate law as a tool to balance the divergent private interests of shareholders, managers, and creditors has been challenged by a different approach, which considers the interests of multiple stakeholders (i.e., employees, customers, suppliers, and society as a whole). As a result, in the current landscape, banking regulation is no longer only a set of special rules for special corporations. Instead, the current regulations pertaining to the corporate governance of banks can be viewed as a model for a multistakeholder approach to corporate law. This talk focuses on three features of banking regulation - organizational arrangements, risk governance, and enforcement - that might be relevant to the most recent discussion on corporate law.

Andrea Perrone is Full Professor of Corporate Law & Financial Regulation at the Università Cattolica del Sacro Cuore (UCSC) in Milan, Italy. He has taught at the Università di Ferrara and has been Visiting Professor at the Hebrew University of Jerusalem, the Université Paris X, and the University of Warsaw. Professor Perrone has published extensively in the field of financial regulation, corporate law, contracts, and non-profit organizations. Name partner at a boutique law firm in Milan specializing in financial regulation, banking law, and corporate law, he also serves as an independent director in both financial and industrial companies.

Professor Perrone holds a J.D. from the UCSC and a Ph.D. in law from the State University of Ferrara, Italy. He has been visiting scholar at Yale Law School for a full academic year. 

This event is cosponsored by the Law School's International Programs and International Law Society.

Lunch will be provided. Please submit dietary requests 8 business days prior to the program to Aican Nguyen at aican@uchicago.edu. Although we will try to accommodate dietary needs, it is not guaranteed.