Financial Product Regulation in age of Innovation - The final frontier towards achieving effective financial services regulation

The global financial crises between 2007 and 2009 (GFC) revealed significant gaps and regulatory infrastructure and macro-economic policy of the financial system. Financial crises are generally unwelcome but prevalent feature in the financial market system. They generally cause upheaval across the financial system with impactful consequences across spheres of society. However in their wake lessons are learned and steps are taken with the revelations of the GFC have led to a beneficial revision of the financial regulatory architecture. This LLM dissertation presents the argument that this revised regulatory architecture leaves room for ineffectiveness unless product regulation is properly addressed. The author examines the financial crises and identifies the specific GFC peculiarities; considers the issue of regulation failure, its role in each particular GFC peculiarities and the attempts at rectifying such failure in the revised regulatory architecture following the GFC; and gives a review of the revised architecture, considering a role for product regulation pursuant to fully eliminating the effects of the GFC peculiarities.