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What Determines the Demand for Compliance Staff?  

Investment banks and other kinds of financial services organisations have hired far more compliance staff in recent months than before. When will the hiring end? What drives such hiring -- and what will the effect on profits and legal professional hiring of these firms? In this paper, we model the compliance staff hiring decision. Looking at the decision to pay outsourced compliance consultants or hire in-house compliance staff, we find that outsourced staff drive productivity and pay in the compliance sector overall. We also create a unique database to assess which countries will have "most" regulation which needs complying with.




                             Dataset on the level of financial regulation across countries (.xls)



Dr. Bryane Michael is currently a senior fellow at the HKU Law Faculty's Asian Institute of International Financial Law and the University of Oxford. He teaches by Socratic Method over 200 executives every year in business, economics and law in a range of countries. Such teaching usually results in a new legislative act or executive regulation, Board resolutions adopting various internal controls, marketing plans, capital raising decisions and so forth. He ranks in the top 1% of academics (by SSRN downloads) and speaks at over 70 events each year. Full bio























Listing Law Firm Shares on the Hong Kong Stock Exchange

Hong Kong Lawyer

Hong Kong's "indigenous" law firms clearly compete at a disadvantage to their foreign rivals. Allowing listing for certain types of practices may help. Link to article

Reforming Hong Kong's Financial Regulators

Is it time for Hong Kong to adopt Twin Peaks financial regulation? Yes -- according to my recent article. In a recent SCMP article, I make the case. In the depths of the financial crisis, even US regulators wished they had adopted such a regulatory structure.


Rewriting the US Tax Code: Can "Complexity" Help?

The US tax code represents one of the most complex branches of US law (which represents one of the most complex legal systems in the world). Yet, basic principles can help reduce its complexity and increase its effectiveness. See at the Tax Prof Blog.

CPALL Overview at INSEAD

Could CPALL represent the hotbed of organisational innovation which expands what we understand by "value webs"? See blog post and the accompanying economic theory.


previous pop media articles







Choose from the following research areas to see my research in that area.

Bryane Michael Discusses Ukraine's Devaluation

In the 1990s, I helped with a 50% devaluation of a major country's currency. In recent times, I have discussed the economic ramifications of Ukraine's devaluation. The grivna had been unsustainably pegged for years. After a devaluation from roughly 10 grivna to the euro to 15, the currency looks in alignment. However, pressures to print money look likely to further erode the value of the grivna. A war in the East looks likely to remove part of Ukraine's GDP -- again making the currency less valuable.

For more information (in Russian only)

For the video


For the newspaper version

Read online




The Law and Economics of Business

I am pleased and honored to join the Warsaw-based CASE as a fellow. If academics understand the world so much better, we should see deeper into the forces that drive companies -- and thus economies. I write articles for services like Seeking Alpha -- applying the theories and intuitions we learn in the academy to the real-world. In line with academic tradition, I am not paid for this.

See these articles online.

Math slides

These are the Post-It notes about math. Alternative site - when I eventually move on.

Disclaimer: The materials and views presented on this website belong only to the author and in no way reflect the views or opinions of the University of Hong Kong (nor any other organisation with whom I or my colleagues are affiliated). This website provides a forum for the NON-PROFIT sharing of educational resources. No materials on this site can be considered either as solicitations for a purchase or the acts of an agent acting on behalf of a principal in any jurisdiction.