Wednesday, 6 October 2010

57th Session of the Philosophical Foundations of Law and Finance Updated

Dear All,

We are happy to announce that the fifty-seventh session of the Philosophical Foundations of Law and Finance will be held at the Latimer Conference Centre (for directions, see, with Joe leading a discussion from 6 to 7pm on "The Philosophical Foundations of Bounty-Hunting under the Dodd-Frank Act" followed by a dinner from 7 to 8pm.  In attendance will be about thirty candidates of the LLM Corporate Finance Law and two PhDs candidates.  You are welcome to attend the lecture and please RSVP to Rezi at for the dinner, which for guests will be a nominal charge of £15.  Please also note that there is an alumni networking lunch on Oct 9th at 1 to 2:30pm where former LLM students now working in banking and finance will join us.

The topic of discussion will be a continuation of Hohfeldian 'analytical jurisprudence' and Category Theory (see Conceptual Mathematics by Lawvere and Schanuel, 2009, 2ed) with application of such theories to the Whistleblower Incentives and Protection provisions (mainly sections 748 and 921-924) of the US Dodd-Frank Act 2010, also known as the "Bounty Hunting" provisions. You can access the US Dodd-Frank Act text by clicking here

We will investigate the structural features of bounty-hunting in regulatory gaming space in terms of the isomorphism of time, space, greed and fear. We will also ask whether the fundamental psychological unit of risk is non-invertible (and thus, implying an invariance) across a universal regulatory space amongst gaming agents pro se. This move in the development of theory is in response to James Waters' query in the 56th session as to whether Category Theory in social science and specifically, in its applications to financial economic phenomena could be improved with the addition of "combinatorics" and "numerics". Joe's initial response in the last session was to agree with Waters' suggestion that it was in "the combination of categories" that we can see the worth of category theory in terms of practical applications of the predictive sort to legal and financial phenomena. But this practical move would merely be an implementation of a much more fundamental and general position which still needs proof and justification. The prime motivation of Category Theory as applied to law and finance generally is to hunt down structures which are not simply analogous but literally in a rigorous sense, fundamentally the same across specialist discourses.  Our hunt is Parmenidean in the sense of recovering by force of simple structures arguments in favour of the One. In the simplest terms, we wish to find the structures of law and finance, since neither discourse is equipped or motivated to do this job for us, and our suspicion is that bounty-hunting not only offers radical rewards to particular whistleblowers but that it establishes a market nucleus that has the same structural properties that make investment banking so successful.

This fifty-seventh session of the Philosophical Foundations of Law and Finance is the capstone of the introductory set of lectures for the LLM Corporate Finance Law programme, and the beginning of the Corporate Finance Law Executive Weekend which will include 18 hours of intensive instruction led by Professor Mark Watson-Gandy, module leader of Legal Aspects of Corporate Finance,  Florin Coseraru, Director of Barclays Capital & Fellow and Module Leader of Investment Banking, Dr. Dmitry Gololobov, Fellow of Corporate Criminal Law & Module Leader of Money Laundering and Corporate Fraud, Viktoria Baklanova, PhD Candidate in Law and Senior Director of Fitch, New York.

If you can't make it to the Friday session, you are most welcome to join us for the networking lunch on Saturday.

See you there!

Rezi and Joe


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