People

Dr Mark Hsiao

Associate Professor

School/Department: Law, School of

Telephone: +44 (0)116 223 1255

Email: mh393@leicester.ac.uk

Profile

Prior to joining the Leicester Law School in 2013, I have worked at universities in the U.K and Hong Kong. My research interest lies in the law of trusts, financial and banking law (Investment Banking). I have authored and published four books with a focus on banking and financial principles in Hong Kong, China and international practices. I have published in the following journals: Banking and Finance Law Review, Capital Markets Law Journal, the Conveyancer, the Company Lawyer, Hong Kong Law Journal, Journal of Business Law, Journal of Banking and Finance Law and Practice, Lloyds Maritime & Commercial Law Quarterly, Restitution Law Review and Trusts & Trustees.
 

Research

My research focus is on private law on banking and financial transactions particularly on the over-the-counter financial derivatives. My research looks into the area where party autonomy and regulation intersect or interweave such as the regulatory change that might affect the financial transactions. My research involves broadly in two points: 1) how changes in regulation policies and market structure influence the private law based transactions in the markets and 2) how market participants respond to such changes. My works are influenced by HLA Hart N Luhmann and Gunther Teubner. I am also interested in using financial models ( i.e. (FV=1+i)n ) and economic theories (i.e. utility theory marginalism pareto efficiency) to explain the transactional model in order to support the change in private law. My research has been cited in the Singapore Court of Appeal case Alwie Handoyo v Tjong Very Sumito [2013] SGCA 44; the Singapore International Commercial Court case CPIT Investments Ltd v Qilin World Capital Ltd and another [2017] SGHC(I) 5; Smith and Hogan Criminal Law (14th edn OUP Oxford 2011) and A Arora Banking Law (Pearson London 2014).

Publications

(0)

Books Authored

  1. Regulatory Principles of Banking Law in China (Sweet & Maxwell, HK 2015) 200pp
  2. Principles of Hong Kong Banking Law (Sweet & Maxwell, HK 2013) 339pp 
  3. International Banking and Finance Laws-principles and regulations(Sweet & Maxwell, HK 2011) 364pp 
  4. Financial Regulation of Derivatives, Trust and Securitization in China (Carswell, Toronto 2009) 257pp

Articles & Book Chapters

  1. ‘Use Value and Time Value Through the Lens of Money Functions’ (2020) 35(2) Banking and Finance Law Review 
  2. 'Judicial Reasoning in Statutory Trust and Client Money' (2018) 82 (3) Conv. 244-261. 
  3. ‘Target Redemption Forwards and Contractual Estoppel’ (Sweet & Maxwell HK 2018)Structured Finance in Asia- International and Regional Comparative in K Ong and CK Low (eds)  113-124. 
  4. (Sweet & Maxwell 2018) 91-112 (with S Gallagher) .  Structured Finance in Asia-International and Regional Comparative ‘The Concept of the Trust in Common Law and Civil Law and Its Impact on Structured Finance'in K Ong and CK Low (eds)
  5.  ‘Liability to pay interest: use value and time value’ [2018] Lloyds Maritime & Commercial Law Quarterly 477.
  6. ‘Revisiting Vandervell v IRC: Classification of the Option and Implications’ (2018) 33 (11) J.I.B.L.R 397-405.
  7.  ‘Regulating OTC Derivatives: The Central Counterparty's Role and EMIR’ in Iris Chiu & Iain MacNeil (eds) Research Handbook on Shadow Banking: Legal and Regulatory Aspects (Elgar 2018) 205-228. 
  8. ‘A shift in the objective deduction of secondary fact in presumption’ (2017) 81(2) The Conveyancer & Property Lawyer 101-115. 
  9. ‘A shift in the objective measure of the time value of money’ [2015] 23 Restitution Law Review 92-105. 
    1. Cited by T Cutts in ‘Use Value and Interest in Unjust Enrichment’ (2019) Lloyds Maritime and Commercial Law Quarterly
  10. ‘Chinese Trust Law: Registration as the Concept-Substitution and a Work-Out Solution for Investors (Beneficiaries)’ (2015) 25(8) Trusts & Trustees 1-13.
  11. ‘The shift in China from corporate crime to corporate manslaughter crime: comparisons with the UK and Australia’ [2015] (1) Journal of Business Law 68-83. 
  12.  ‘OTC Derivatives Regulation in China: how far across the river?’ (2014) 25(1) Journal of Banking and Finance Law and Practice 14-25.
  13. ‘The legal transplant of the English floating charge and the pledge over receivables into Chinese law’ [2014] (2) Journal of Business Law 141-155. 
  14. ‘F (2013) 43(1) Hong Kong Law Journal 139-160.inality orders in the clearing system and OTC derivatives regulation in Hong Kong’
  15. Ong, K & Hsiao, M ‘From ISDA to NAFMII: Insolvency Stalemate and PRC Bankruptcy Jurisprudence’ (2013) 8(1) Capital Markets Law Journal 77-89.
    1. Cited by K Ong and A Liu in ‘The influence of public law on the development of China Securitization’ (2015) Capital Markets Law Journal
    2. Cited by S Gao and C Chen in ‘Transnationalism and Financial Regulation Change: A case of Derivative Markets (2017) European Business Organization Law Review
    3. Cited by S Gao in ‘Legal Pluralism and Isomorphism in Global Financial Regulation: The Case of OTC Derivative Counterparty Risk Regulation in China (2019) Washington International Law Review.
  16. ‘The beginning and the end of an era of charitable public benefit in Hong Kong’ (2012) 76 (3) The Conveyancer & Property Lawyer 228-242. 
    1.  Cited by R Lee in ‘Charity without Politics? Exploring the Limits of Politics in Charity Law’ (2015) Journal of Civil Society
  17. ‘Does China need financial derivatives’ regulation: Catch 22 or a vicious circle?’ (2012) 27 (3) Banking and Finance Law Review 445-463. 
  18. ‘Deposit Insurance Scheme as the final destination-Mapping the financial market’(2011)26(11) Journal of Int’l .Banking Law & Reg. 538-547.
  19. ‘Legitimized interference with private properties-Banking Act 2009’ (2010) 25 (5) Journal of Int’l .Banking Law & Reg. 227-234 
    1. Cited in the Singapore Court of Appeal case Alwie Handoyo v Tjong Very Sumito [2013] SGCA 44; 
    2. Cited in the Singapore International Commercial Court case CPIT Investments Ltd v Qilin World Capital Ltd and another [2017] SGHC(I) 5).
  20.  ‘The pilot securitization of credit assets in China’ (2009) 24 (4) Journal of Int’l .Banking Law & Reg. 216-223
  21. ‘Sprouting fiduciary duty of honesty and fidelity: Companies Act 2006’ (2009) 20 (9) Intl Company & Commercial Law Review 301-308. 
    1. Cited in A Arora Banking Law (Pearson London 2014).
  22. ‘Abandonment of the doctrine of attribution for gross negligent test on the Corporate Manslaughter and Corporate Homicide Act 2007’ (2009) 30 (4) The Company Lawyer 110. 
    1. Cited in the Smith and Hogan Criminal Law (14th edn OUP, Oxford 2011).
  23. ‘An analysis of the Basel II framework on credit derivatives treatment on trading book for risk mitigation purpose and relationship to banking book’ (2008) 29 (1) The Company Lawyer 26.
  24. ‘Legal infrastructure of Chinese banking credit derivatives trading leading to securitization’ (2007) 28 (10) The Company Lawyer 303.

Book Reviews 

  1. US Regulation for Asset Managers Outside the United States’ (2018) 33(10) 11 J.I.B.L.R. 382.
  2. OTC Derivatives: Bilateral Trading and Central Clearing: An Introduction to Regulatory Policy, Market Impact and Systemic Risk’ [2014] J.I.B.L.R.

Others 

  1. ‘物權法定與合同自由原則’ 財經法學 2016 ‘Property right and contractual autonomy’ in Law and Economy published by Law School of Central University of Finance and Economics, China 2016.
  2.  ‘合同與組織的內在關聯’財經法學 2016 ‘Contract and Corporate Structure’ in Law and Economy published by Law School of Central University of Finance and Economics, China 2016.
  3. Ong, K and Hsiao, M ‘Translating insolvency from Chinese’ Creditflux August 1 2013

http://www.creditflux.com/Newsletter/2013-08-01/Translating-insolvency-from-Chinese/

.

Supervision

1. Regulation of Financial Derivatives (Comparative Law)
2. Banking Law (Deposit Insurance, Basel Recommendations, Banking Resolution Regime, Securities' interest, Payment System, Concept of Money: virtual currency)
3. Regulation on Securitisations
4. Trust (comparative trust law- patrimony, foundation)
5. Corporate manslaughter

Teaching

LL.B Trusts & Equity
LL.M International Banking Law
LL.M Capital Markets

Press and media

Any

Activities

Recent Development Section Editor for Banking and Finance Law Review
Editorial member on JLERI
ESRC-GCRF College Peer Review

Conferences

  1. ‘CCTL Corporate Law and Governance Cluster Seminar-Gross Negligence Manslaughter.’ Chinese University of Hong Kong 15 Oct 2021 (With Tracy Cheung)
  2. ‘Constitution of a Statutory Trust on Clients’ Money in Financial Transactions’ in The Use and Abuse of Trusts and Other Wealth Management Devices Conference 2017, 27-28 July Singapore Supreme Court. (Singapore Management University)
  3. ‘Regulating OTC Derivatives: The Central Counterparty's Role and EMIR’ in the ‘Governing Shadow Banking’ conference held on 24 March 2017 at the Institute of Advanced Legal Studies in London chaired by Professor Iain MacNeil.
  4. ‘Chinese Civil Law Trust without Equity’ on 23rd April 2015 Leicester-Modena Conference.
  5. ‘Financial Regulation & Social Development’ School of Law, Shanghai-Jiatong University, People Republic of China, 22nd & 23rd  March 2013.
  6. ‘Chinese equitable right and floating charge over account’ (27 Sept 2011) 1st Banking Law Colloquium: Making Securitisation safe again after the Financial Crisis, Centre for Financial Regulation and Economic Development, Faculty of Law, Chinese University of Hong Kong.
  7. ‘Tracing assets’, 26th Cambridge International Economic Crime Symposium, Jesus College Cambridge Sept 2008.
  8. ‘Chinese securitizations’ 24th Cambridge International Economic Crime Symposium, Jesus College Cambridge Sept 2006.


Qualifications

LL.B, LL.M (LSE: London), PhD (IALS:London)
Back to top
arrow-downarrow-down-3arrow-down-2arrow-down-4arrow-leftarrow-left-3arrow-left-2arrow-leftarrow-left-4arrow-rightarrow-right-3arrow-right-2arrow-right-4arrow-uparrow-up-3arrow-up-2arrow-up-4book-2bookbuildingscalendar-2calendarcirclecrosscross-2facebookfat-l-1fat-l-2filtershead-2headinstagraminstagraminstagramlinkedinlinkedinmenuMENUMenu Arrowminusminusrotator-pausec pausepinrotator-playplayc playplussearchsnapchatsnapchatthin-l-1thin-l-2ticktweettwittertwittertwitterwechatweiboweiboyoutubeyoutube