International Financial Regulation, International Monetary Affairs, and International Trade
Chris Brummer is a professor of law and the faculty director of Georgetown’s Institute of International Economic Law. Prior to joining Georgetown’s faculty with tenure in 2009, Brummer was an assistant professor of law at Vanderbilt Law School. He has also taught at several leading universities as a visiting professor including the universities of Basel, Heidelberg, and the London School of Economics.
Professor Brummer recently concluded a three year term as a member of the National Adjudicatory Council of FINRA, an organization empowered by Congress to regulate the securities industry, where his work was praised as making a significant contribution to advancing investor protection. Notably, Professor Brummer and his colleagues became targets of extensive defamatory online attacks by Wall Street financier Benjamin Wey in retaliation for barring his business associates for fraudulently marketing securities of Deer Consumer Products Inc. Since then, Mr. Wey has been arrested and charged by the US Department of Justice with money laundering, wire fraud and securities fraud involving Deer stocks and other securities. Mr. Wey’s associates were also later arrested and indicted for other federal securities law violations in Cleveland, Ohio.
Professor Brummer lectures widely on finance and global governance, as well as on public and private international law, market microstructure and international trade. Mr. Brummer is the author of several books, most recently Minilateralism: How Trade Alliances, Soft Law and Financial Engineering are Redefining Economic Statecraft (2014). He is also the rapporteur of the widely respected policy report, The Danger of Divergence: Transatlantic Financial Reform & the G20 Agenda (2013), available here. His latest policy analysis examines the rise of China’s currency in international payments and the need for supplemental market and regulatory reforms in Renminbi Ascending: How China’s Currency Impacts Global Markets, Foreign Policy, and Transatlantic Financial Regulation, available here.
Chris Brummer earned his J.D. from Columbia Law School, where he graduated with honors, and he holds a Ph.D. in Germanic Studies from the University of Chicago. Before becoming a professor, he practiced law in the New York and London offices of Cravath, Swaine & Moore LLP. In 2011, he joined the Washington offices of the Milken Institute where he is a senior fellow. Subsequently in 2012, he was awarded the C. Boyden Gray Fellowship for Global Finance and Growth at the Atlantic Council, where he launched the think tank’s Transatlantic Finance Initiative.
Featured Scholarship Curriculum Vitae
SEPTEMBER 11, 2017
North Korea, Russia, and Venezuela Sanctions Discussed with Former CIA Deputy Director
On the day the United Nations Security Council approved new international sanctions on North Korea to halt its nuclear program — on the 16th anniversary of 9/11 — Georgetown Law’s Institute of International Economic Law (IIEL) hosted a panel discussion with a former CIA deputy director on sanctions against North Korea, Russia and Venezuela. The video of the interview is here.
AUGUST 9, 2017
IIEL Annual Report Released
IIEL has released its 2017 Annual Report for the Institute of International Economic Law. During the 2016-2017 year the Institute hosted the OCC’s Fintech Charter launch, Mexico’s top NAFTA negotiator, ambassadors from Germany, the EU, France and elsewhere to debate Brexit, the head of the House Ways and Means Committee, a Geneva-based conference on the WTO, and more.
JULY 12, 2017
Faculty Director Chris Brummer Launches New Blog, Hedged Positions
IIEL Director Chris Brummer launched this month a new interdisciplinary blog, hedgedpositions.com, to cover issues in international trade, finance and monetary relations. He plans to likewise launch a research blog for students and researchers interested in international economic law in the near future.
JUNE 2, 2017
Chris Brummer Writes Op-Ed on Populism’s Minilateral Foreign Policy
MAY 22, 2017
IIEL Congratulates New Graduates
IIEL congratulates the new minted IIEL Alumni Fellows and the Georgetown Law Class of 2017.
MARCH 13, 2017
Chris Brummer Named Agnes N. Williams Research Professor
Georgetown Law Professor Chris Brummer and Professor Gregory Klass have been named the 2017 Williams Research Professors. The Williams Professorships, established through the generosity of Agnes N. Williams (L’54), recognize and support the scholarly activities of Georgetown Law faculty. The story can be found here.
FEBRUARY 22, 2017
Chris Brummer Pens Issue Brief on the Renminbi and Systemic Risk
In his IIEL Issue Brief, Renminbi Internationalization and Systemic Risk, IIEL Faculty Director and Williams Research Professor Chris Brummer argues that China’s strategy introduces novel systemic risks to the global financial system, including a potentially inadequate provision of renminbi liquidity, a regulatory race to the bottom between offshore RMB-hubs, and significant transmission belts of financial risk to even non-renminbi markets. To mitigate these risks, he argues for a policy recipe of stronger Mainland macroprudential oversight, transparent countercyclical capital account reforms and credible commitments on the part of the government to refrain from competitive currency devaluations. The full white paper can be found here.
FEBRUARY 15, 2017
IIEL Hosts the Congressional Black Caucus
On February 15, 2017, the International Economic Law hosted a reception at Georgetown Law with incoming members of the Congressional Black Caucus. The full story can be found here.
DECEMBER 2, 2016
On Friday, December 2, 2016, Comptroller of the Currency Thomas J. Curry unveiled at the Institute of International Economic Law a new process allowing fintech companies to access special purpose national charters. He then fielded questions by IIEL’s Faculty Director, Professor Chris Brummer, on the advantages of the charters, likely prudential and consumer regulations, and next steps for the OCC in administering the program. The white paper can be found here and coverage by the Wall Street Journal here. The video can be found here.
OCTOBER 17, 2016
On October 17, 2016, IIEL convened a panel of ambassadors from France, Germany, the Slovak Republic (which holds the European Union’s Presidency) and the European Union to discuss the UK’s decision to leave the European Union and the EU’s possible responses. Professor Brummer moderated the discussion at Georgetown Law.
MARCH 03, 2016
The White House announced today that President Barack Obama has nominated Georgetown Law Professor Chris Brummer to the U.S. Commodity Futures Trading Commission. Georgetown issued a release and the story is here.
Note: An update can be found here.
JANUARY 05, 2016
The Changing International Economic Order
UPenn Case in Point
As part of a “Case in Point” series at the University of Pennsylvania’s law school, Professor Chris Brummer, IIEL’s Faculty Director, discusses how China and other rising powers are shaping the rules of global trade and finance.
DECEMBER 01, 2015
“China’s Renminbi Is Approved by I.M.F. as a Main World Currency“
The New York Times
Quoting Professor Chris Brummer
|ID||Event Name||Duration||Start Date|
|EU Director General for Taxation and the Customs Union Discusses Tax Agenda, September 22nd at IIEL||1.5 Hours||September 22, 2017|
|IIEL & ITPF February 3rd Conference on Tax Competition||5 Hours||February 3, 2017|
|Comptroller of the Currency Thomas Curry Unveils Fintech Charters at IIEL||1.75 Hours||December 2, 2016|