ABSTRACT

This chapter argues for a new agenda for transformed financial regulation, moving beyond a central concern of systemic risk and the macroprudential regulation of systemic risk. It proposes a further transformation in financial regulation, building on the complexity theory framework for financial regulation, based on a complexity theory understanding of systemic resilience and a complexity jurisprudence understanding of managing this complexity systemic resilience. The chapter also argues that the complexity theory concept of resilience as ecological resilience is now crucial to regulating complex financial systems and that complexity jurisprudence provides the new agenda for the regulation of complex financial systems for ecological resilience. Complexity jurisprudence is a rich resource for understandings and practices of managing and regulating for ecological resilience. This complexity jurisprudence understandings and practices include adaptive management, assisted self-organisation and second order self-reflexive management of the regulatory system itself.