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About
Elizabeth is an Associate Professor of Law. Before joining the LSE, Elizabeth was a Lecturer at the University of Cambridge. She has a DPhil from the University of Oxford, a LLM from the University of Utrecht, and a LLB from the University of Edinburgh. Before undertaking her PhD, she previously qualified as a solicitor and practised in a City Law Firm.
Elizabeth has been a visiting fellow at the University of Hong Kong (HKU), a visiting researcher at the Max Planck Institute in Hamburg and Munich, and a visiting scholar at Columbia Law School.
Research
Research Interests
Elizabeth’s main research interest is to explore UK and EU financial markets regulation. There are three key strands to her work at present: i) Brexit and the evolving UK/EU financial governance relationship ii) the design and development of financial markets regulators in the UK and EU (namely the Financial Conduct Authority, and the European Securities and Markets Authority); and iii) the relationship between law and markets, specifically the current decline in the UK equity markets. Her current monograph (OUP) project explores the reframing of the UK’s international financial relationships in the shadow of Brexit.
Publications
Principles of Corporate Finance Law 3rd edition (OUP, 2023) (co-authored with Eilís Ferran and Felix Steffek)
Corporate finance theory seeks to understand how incorporated firms address the financial constraints that affect their investment decisions. This is achieved by using varied financial instruments that seek to give holders different claims on the firm's assets. Recent scholarship in this area has highlighted the critical importance of the legal environment in explaining the choices that companies make about their capital structure.
This book combines company law, capital markets law, and aspects of commercial and insolvency law to give readers a detailed understanding of the legal and regulatory issues relating to corporate finance. Informed by insights from theoretical and empirical work, the book examines from a legal perspective the key elements of corporate financing structures and capital markets in the UK. The authors' practical experience of transactions and regulatory issues ensures that thorough scholarly inquiry and critical reflection are complemented by an assured understanding of the interface between legal principles and rules as they are documented and in their actual operation.
- 'The Post-Brexit Accountability of the Financial Conduct Authority: Developing Parliament’s Institutional Capability' (2023) 139 Law Quarterly Review 135-161
- ‘Brexit, Covid-19, and Possible Frameworks for Future UK/EU Financial Governance Cooperation’ (2021) 84 Modern Law Review 1227-1256
- ‘Post-‘Brexit’ Financial Governance: Which Dispute Settlement Framework Should be Utilised?’ (2020) 83 Modern Law Review 128-162
- 'Post-‘Brexit’ UK Fund Regulation: Equivalence, Divergence or Convergence?' (2020) 21 European Business Organisation Law Review 611-639
- ‘Financial Sanctions for Breach of Shareholders’ Duties’ in H Birkmose and K Sergakis (eds), Enforcement of Shareholders’ Duties (Edward Elgar, 2019) (with Jennifer Payne)
- ‘EU Agencification and the Rise of ESMA: Are its Governance Arrangements Fit for Purpose?’ (2019) 78 Cambridge Law Journal 324
- ‘The Regulation of Short Sales: A Politicised Topic’ (2018) 12 Law and Financial Markets Review 203
- ‘An Analysis of the Prospectus Regime: The EU Reforms and the ‘Brexit’ Factor’ (2018) 15 European Company and Financial Law Review 69
- ‘The Evolution of ESMA and Direct Supervision: Are there Implications for EU Supervisory Governance’ (2017) 54 Common Market Law Review 1027
- ‘The Creation of a European Capital Market’ in Jukka Snell and Panos Koutrakos (eds), The Research Handbook on the Law of the EU’s Internal Market (Edward Elgar, 2017) (with Jennifer Payne)
- ‘Short Selling Restrictions in the EU and the US: A Comparative Analysis’ (2016) 16 Journal of Corporate Law Studies 333
- ‘Regulatory Intervention in the European Sovereign Credit Default Swap Market’ (2016) 17 European Business Organisation Law Review 319
- ‘Short Selling Reporting Rules in the EU and the US: A Greenfield Area’ (2015) 12 European Company Law Journal 79
- ‘The European Court of Justice: Selling Us Short?’ (2014) 11 European Company and Financial Law Review 454
Teaching
Engagement and impact
Engagement and Impact
Elizabeth was a member of the Consultative Working Group of the European Securities and Markets Authority (ESMA)'s Corporate Finance Standing Committee between 2018-2020.