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Norton, Joseph Jude

James L. Walsh Distinguished Faculty Fellow in Financial Institutions and Professor of Law

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Rm 306 Storey Hall
3315 Daniel Ave.
Dallas,TX 75275

Professor Norton primarily teaches domestic and international business and banking-related courses. He holds the James L Walsh Distinguished Faculty Fellowship and Professorship in Financial Law at the School of Law, where he has been a tenured full Professor of Law since 1981 and an Adjunct Professor since 1973. He jointly held the Sir John Lubbock Professorship in Banking Law at the University of London from 1993 until 2005, and was the Cameron Professorial Fellow in Banking Law at London from 1988-1993; in the Spring semester 2005, he held the Nomura Distinguished Visiting Professorship in International Financial Systems at the Harvard Law School. In 1999-2001 he held the Vice Chancellor’s Distinguished University Professor of Law at the University of Hong Kong, where he helped co-found the Asian Institute of International Financial Law. He also currently holds Visiting University Professorships at the Peking University Law Faculty and the Shanghai University of Finance and Economics. He previously has held a chaired Visiting Professorship at the RAU Banking Institute, South Africa; a Visiting Professorial Fellowship at the Mandela Institute, Wits University, Johannesburg; and a Professorial Fellowship in Financial Law and Institutions at the British Institute of International and Comparative Law (London). In addition, he held a Visiting Professorship position at the University of Muenster Law Faculty for eight years, and he was a Visiting Professor at Soochow University Law Faculty, Taipei. He was the Editor-in- Chief on the International Lawyer journal for 14 years; and he is currently Editor-in-Chief of the Law and Business Review of the Americas and of the annual Studies in International Financial, Economic and Technology Law. He is General Editor of four major international book series; and he sits on the Advisory Boards of six international journals. He is considered a leading expert in domestic (US) and international banking and financial law and in financial sector law reform matters. In September 2001, he was honored with an LLD degree from the University of Stockholm in recognition of such accomplishments; and in 2005, he was awarded an earned LLD degree from the University of London for his writings from 1996-2001. He has lectured on banking and finance law and financial sector reform worldwide, and he has published numerous books and articles on related subjects. He has practical experience with international and domestic (US) banking and capital markets transactions, international financial regulatory matters, bank corporate and asset restructuring and asset securitization. He also has consulted on financial sector law reform issues with a range of governmental and intergovernmental authorities worldwide, serving currently as a member of the World Bank/IMF Core Consultative Group on their Bank Insolvency Initiative and an academic consultant to the International Association of Deposit Insurers, and having served as an academic consultant to the Latin American Association of Bank Supervisors . He is an elected member of the American Law Institute, of the American College of Commercial Lawyers, and of the International Academy of Commercial and Consumer Law; and he holds the Martindale Hubbell AV (highest professional lawyer) rating. He was a corporate/banking partner of a major Texas law firm and has served as a consultant to several other major Texas law firms; and he has served as a member of the ABA and Texas Banking Committees, as a Council member of the ABA’s International Law and Practice Section, and as a member of the UK/ICC Banking Committee.. He is founder and Director of SMU’s Institute of International Financial, Economic and Technology Law and of the reactivated SMU Law Institute of the Americas; and for ten years was the Director of SMU’s annual Institutes of Banking Law, Commercial Lending and Finance, and of Lender Liability. He is a former President and (for 11 years) a member of the Board Directors of the North Central Texas Legal Service (for the poor). He founded and is Exectutive Director of the London (now Global) Forum for International Economic Development Law. His latest book publications are Universalism v. Multilateralism: Policy Challenges for the 21st Century(2004), A New International Financial Architecture: A Viable Approach(2002), Financial Sector Law Reform in Emerging Economies (2001), and Reform of Latin American Banking Systems: National and International Perspectives (2000).

Primary Articles

Global Financial Sector Reform: The Single Financial Regulator Model Based on the United Kingdom FSA Experience: A Critical Reevaluation, 29 Int’l Law. 15 (2005).

SELECTIVE BANK AND ENVIRONMENTAL DEVELOPMENTS: SUPERVISORY TRENDS UPON ENTERING THE TWENTY-FIRST CENTURY, in Imf, 2 Current Developments in Monetary and Financial Law 369-434 (2003).

MONEY LAUNDERING LAW AND TERRORIST FINANCING: POST-SEPTEMBER 11 RESPONSES - LET US STEP BACK AND TAKE A DEEP BREATH?, 36 International Lawyer 103 (2002) (co-author).

THE MODERN GENRE OF INFRASTRUCTURAL LAW REFORM: THE LEGAL AND PRACTICAL REALITIES - THE CASE OF BANKING REFORM IN THAILAND, 55 SMU Law Review 235 (2002).

INTERNATIONAL FINANCIAL INSTITUTIONS AND THE MOVEMENT TOWARD GREATER ACCOUNTABILITY AND TRANSPARENCY: THE CASE OF LEGAL REFORM PROGRAMMES AND THE PROBLEM OF EVALUATION, 35 International Lawyer 1443 (2001).

THE ‘FLIPSIDE’ TO THE ‘NEW INTERNATIONAL FINANCIAL ARCHITECTURE’: AN ELITE CORPS OF BANKING ORGANIZATIONS AND ‘QUALIFIED SELF-REGULATION,’ 1 Journal of International Financial Regulations 46 (2000).

A “NEW INTERNATIONAL FINANCIAL ARCHITECTURE?” – REFLECTIONS ON THE POSSIBLE LAW-BASED DIMENSION, 33 International Lawyer 891 (2000).

PRIVATIZATION OF PUBLIC PENSION SYSTEMS IN DEVELOPING NATIONS: A CALL FOR INTERNATIONAL STANDARDS, 64 Brooklyn Law Review 817 (1998).

Books

Universalism v. Multilateralism: Policy Challenges for the 21st Century (2004),

A New International Financial Architecture: A Viable Approach (2002),

Financial Sector Law Reform in Emerging Economies (2001), and

Reform of Latin American Banking Systems: National and International Perspectives (2000).

Speeches/Presentations

“Depositor Protection Schemes and Key Legal Issues: A Comparative Perspective,” World Bank Conference on Bank Insolvency, March 2003.

“Determining the Trigger and the Trigger Point: A Critique of Comparative Prompt Correction Action Approaches,” APEC Policy Dialogue, Kuala Lumpur (December 2003).

“Corporate Governance and Bank Operational Regulations,” BIICL, London (June 2003).

Other

AN ‘ENVIRONMENTAL’ APPROACH TO FDI AND EFFECTIVE DISPUTE RESOLUTION: THE EXHORTATIONS OF THE MONTERREY CONSENSUS, Ch. 4 (pp. 89-110) in Prof. N. Horn (ed.), Arbitrating Foreign Investment Disputes (Kluwer, 2004).

WESTERN HEMISPHERIC INTEGRATION: PROSPECTS FOR THE FTAA, Ch. Prof. M. Cremona at al (co-ed.), In Rise of Regionalism in the International Economic Order (2004).

ENCOURAGING CAPITAL FLOWS AND VIABLE DISPUTE SETTLEMENT FRAMEWORKS, 10 LBRA 65-84 (2004).

PRIVATIZATION IN MODERN BANK REGULATION, Ch. 7 (pp. 197-231) in Dr. M. Litoksky (ed.), Privatization and the Law (Martinus Nijhoff, 2003).

THE CONVERGENCE OF PUBLIC AND PRIVATE LAW IN MODERN ECONOMIC REGULATION, Ch. 2 (pp. 21-68) (co-author) in Prof. L. Gorton (ed.), The Public-Private Dichotomy/Interconnection: The Public-Private Partnership in Modern Bank Regulation (Lund, 2003).

A PERCEIVED TREND IN MODERN INTERNATIONAL FINANCIAL REGULATION: INCREASING RELEVANCE OF THE PUBLIC-PRIVATE PARTNERSHIP, 37 Int’l Lawyer 43-59 (2003).

SELECTIVE BANK AND ENVIRONMENTAL DEVELOPMENTS: SUPERVISORY TRENDS UPON ENTERING THE TWENTY-FIRST CENTURY, in IMF, 2 Current Developments in Monetary and Financial Law 369-434 (2003).

MEMORIAL TRIBUTE TO SIR JOSEPH GOLD (co-editor and contributor)(2002).

U.S. SECURITIES REGULATION AND THE USE OF THE INTERNET IN REGISTERED OFFERINGS, in N. Horn (ed), Legal Issues in Electronic Banking, 309 (2002) (co-author).

THE NEW INTERNATIONAL FINANCIAL ARCHITECTURE AND GLOBAL FINANCIAL INSTITUTIONS, in D.W. Amer et al. (Eds), International Financial Sector Reform, Standard Setting and Infrastructure Development, CH. 8 (2002).

A BY-PRODUCT OF THE GLOBALIZATION PROCESS: THE RISE OF CROSS-BORDER BANK MERGERS AND ACQUISITIONS - THE U.S. REGULATORY FRAMEWORK, 56 Business Lawyer 591 (2001) (co-author).

BANK FRAUD AND CRIME (2nd ed., co-editor and contributor) (2001).

INDONESIAN BANKING REFORM AFTER THE CRISIS, in D. Amer et al. (Eds), Financial Crises in the 1990s: a Global Perspective, 260 (2001) (co-author).

A NEW INTERNATIONAL FINANCIAL ARCHITECTURE: A VIABLE APPROACH (co-editor and contributor) (2001).

LENDER LIABILITY IN THE UNITED STATES: A MORE BALANCED PLAYING FIELD, in W. Blair (ed), Banks, Liability and Risk, 349 (3rd ed 2001).

SELECTIVE BANK AND ‘ENVIRONMENTAL’ DEVELOPMENTS - SUPERVISORY TRENDS ENTERING THE 21ST CENTURY, in IMF Institute (ed), Current Developments in Monetary and Financial Law, 91 (vol 2, 2001).

THE CURIOUS DYNAMICS OF FREE TRADE IN THE WESTERN HEMISPHERE: PROSPECTS FOR THE FTAA, in I. Fletcher et al. (Eds), Foundations and Perspective of International Trade Law, 383 (2001).

GLOBAL CROSS-BORDER BANK MERGERS AND ACQUISITIONS - U.S. REGULATORY AND SUPERVISORY CONSIDERATIONS, in N. Horn (ed), Cross-border Mergers and Acquisitions and the Law, 29 (2001).

DISCERNING FUTURE FINANCIAL CRISES: THE LAW AND INSTITUTIONAL BASED DIMENSIONS, Bank of Valletta Review No. 24, 20 (2001) (co-author).

PONDERING THE PARAMETERS OF THE ‘NEW INTERNATIONAL FINANCIAL ARCHITECTURE’: A LEGAL PERSPECTIVE, in R. M. Lastra (ed.), the Reform of International Financial Architecture, 3 (2001).

CONJURING AN ELITE CORPS OF BANKING INSTITUTIONS WITHIN A PUBLIC-PRIVATE PARTNERSHIP, in T. Baums et al. (Eds), Corporations, Capital Markets and Business in the Law: Liber Amicorum for Richard M. Buxbaum, 391 (2000).

FINANCIAL SERVICES MODERNIZATION IN THE U.S. - THE GRAMM-LEACH-BLILEY ACT OF 1999: OVERVIEW OF SELECTIVE LEGISLATIVE AND REGULATORY ISSUES, 1999 Yearbook of International Financial & Economic Law, 323 (2000).

U.S. BANKING REGULATION: PRACTICE AND TRENDS, in Mullineaux et al. (Eds), International Banking and Finance, 12 (2000) (co-author).

DOING BUSINESS UNDER THE FTAA: REFLECTIONS OF A U.S. BUSINESS LAWYER, 6 NAFTA: L&Bus. Rev. Am. No. 3, 421 (2000).

THE EXPERIENCE OF DEVELOPED COUNTRIES AND THE POSSIBLE IMPLICATIONS FOR LATIN AMERICA AND OTHER DEVELOPING COUNTRIES, in E. Aguirre et al. (eds), Reform of Latin America Banking Systems, 213 (2000).

‘ASIAN CONTAGION’ AND LATIN AMERICA, in E. Aguirre et al. (eds), Reform of Latin American Banking Systems, 285 (2000.

INTERNATIONAL STANDARDS AND GLOBAL PENSION SYSTEM REFORM, in K. P. Berger et al. (eds), Festschrift Für Otto Sandrock Zum 70, Geburtstag, 729 (2000).

REFORM OF LATIN AMERICAN BANKING SYSTEMS: NATIONAL AND INTERNATIONAL PERSPECTIVES (co-editor, Kluwer 2000) (12 chapters) (contributor of 2 chapters).

INTERNATIONALIZATION OF PUBLIC FINANCIAL LAW IN HONG KONG, in R. Wacks (ed), the New Legal Order in Hong Kong, CH. 14 (2000).

NO. 23, “The New U. S. Financial Services Modernization Legislation” (2000).

RISK AND REGULATION IN CHINESE FINANCIAL MARKETS (co-editor and contributor of one chapter).

REFORM OF STATE-OWNED ENTERPRISES IN THE PEOPLE’S REPUBLIC OF CHINA, in U. Hübner et al. (eds), Festschrift Für Bernhard Grossfeld Zum 65, Geburtstag, 809 (1999).

AN EXTERNAL OBSERVER’S VIEW ON THE 30TH ANNIVERSARY OF THE HONG KONG LAW FACULTY: THIRTY YEARS, The Hong Kong University Law School 1969-1999, 92-96 (1999).

TRADE AND THE EAST ASIAN FINANCIAL CRISES: THE INTERCONNECTION WITH FINANCIAL SECTOR REFORMS, International Transactions Law Quarterly (Winter 1999).

THE EVOLVING UNITED STATES EXPERIENCE WITH ALTERNATIVE DISPUTE RESOLUTION RESPECTING FINANCIAL INSTITUTION DISPUTES, 1998 Yearbook of International Financial and Economic Law, 45 (1999) (co-author).

“INTERNATIONAL FINANCIAL LAW,” AN INCREASINGLY IMPORTANT COMPONENT OF “INTERNATIONAL ECONOMIC LAW”: A TRIBUTE TO PROFESSOR JOHN H. JACKSON, 20 Michigan Journal of International Law 133 (1999).

THE RECENT ASIAN FINANCIAL CRISES: POSSIBLE LESSONS AND IMPLICATIONS FOR SOUTH AFRICA, Tydskrif vir die Suid-Afrikaanse Reg, Journal of South African Law No. 1, 1 (1999).

ASSET SECURITIZATION IN EMERGING MARKET ECONOMIES: FUNDAMENTAL CONSIDERATIONS, 1997 Yearbook of International Financial and Economic Law, 281 (1999) (co-author).

THE GLASS-STEAGALL ACT AND RELATED BANK LEGISLATIVE REFORM IN THE UNITED STATES: NON-LEGISLATIVE BANK REGULATION AND MODERNIZATION - THE RECENT COMPTROLLER OF THE CURRENCY “OP-SUB” REGULATION, 14 Bank & Financial Law Review 1 (1998).

REFLECTIONS ON THE DEVELOPMENT OF CAPITAL MARKETS, STOCK EXCHANGES AND SECURITIES REGULATIONS IN CENTRAL AND EASTERN EUROPE, in U. Drobnig et al. (eds), Systemtransformation in Mittelund Osteuropa Und Ihre Folgen Für Banken, Börsen Und Kreditsicherheiten, 191 (1998).

THE EAST ASIAN FINANCIAL CRISES: THE LEGAL DIMENSIONS, SMU Brief Article (Winter 1998).

THE ‘NEW BANKING LAW’ AND LEGAL EDUCATION IN THE 21ST CENTURY, Argentine Journal of Comparative Law (1998).

THE MEXICAN PESO CRISIS AND THE FUTURE OF FINANCIAL INTEGRATION IN THE AMERICAS, in J. J. Norton et al. (eds), the Changing World of International Law in the Twenty-first Century: a Tribute to the Late Kenneth R. Simmonds, 317 (1998).

“ARE LATIN AMERICAN AND EAST ASIA AN OCEAN APART?” THE CONNECTING CURRENTS OF ASIAN FINANCIAL CRISES, 4 NAFTA: L. & Bus. Rev. Am. No. 4, 93 (1998).

TOWARDS AN INTERNATIONAL FINANCIAL CENTRE FOR GREATER CHINA: HONG KONG AND INFRASTRUCTURAL REFORM, 28 Hong Kong Law Journal 209 (1998).

THE THAI FINANCIAL CRISES: DELVING BEHIND THE FACADE OF FINANCIAL SSECTOR REFORM AND THE NEED FOR AN INTERDISCIPLINARY, LAW-BASED APPROACH, 28 Thammasat Law Journal No. 2, 246 (1998).

THE CHANGING WORLD OF INTERNATIONAL LAW IN THE TWENTY-FIRST CENTURY: A TRIBUTE TO THE LATE KENNETH R. SIMMONDS (1998) (co-editor and contributor of 1 of 13 chapters).

STRUCTURING THE BANKING REGULATORS AND SUPERVISORS: DEVELOPED COUNTRY EXPERIENCES AND THEIR POSSIBLE IMPLICATIONS FOR LATIN AMERICA AND OTHER DEVELOPED COUNTRIES, 4 NAFTA: L & Bus. Rev. Am. No. 3, 5 (1998).

THE KOREAN FINANCIAL CRISES - REFORM AND POSITIVE TRANSFORMATION. IS A SECOND ‘HAN RIVER MIRACLE’ POSSIBLE?, 2 Global Economics Review No. 2, 3 (1998).

SECURED FINANCING ISSUES FOR INTERNATIONAL LENDERS: BRIDGING THE GAP BETWEEN THE CIVIL AND COMMON LAW THROUGH ASSET-BACKED SECURITIZATION - LESSONS FROM AND RESPECTING ARGENTINA AND MEXICO, in J. J. Norton et al. (eds), EMERGING FINANCIAL MARKETS AND SECURED TRANSACTIONS, 307 (1998) (co-author).

REFLECTIONS ON THE FUTURE OF BANKING LAW IN THE NEW HONG KONG SAR, 1996 Yearbook of International Financial and Economic Law, 183 (1998).

NO. 13, “Asset Securitization in Emerging Market Economies: Fundamental Considerations” (1998).

NO. 16, “Financial Sector Reform and International Financial Crises: The Legal Challenges” (1998).

YEARBOOK OF INTERNATIONAL FINANCIAL & ECONOMIC LAW 1997 (1998) (General Editor and contributor of 1 chapter).

Special Publication Projects for London Institute of International Banking, Finance and Development Law: Studies in Financial and Economic Law.

‘BANKING LAW’ IN THE TWENTY-FIRST CENTURY, in R. Cranston (ed) Essays for Professor Roy Goode, 197 (1997).

NO. 9, “International Syndicated Lending” (1997).

COMPARATIVE PERSPECTIVE: THE UNITED STATES’ EXPERIENCE WITH CLASS ACTION SUITS AND THE NEED FOR CURATIVE LEGISLATION (1997-98), Juridisk Tidsknft, Swedish Journal of Legal Studies No. 1, 11 (1997).

SECURED TRANSACTIONS AND EMERGING MARKETS (co-editor and chapter contributor, 19 chs., Kluwer, 1997).

THE ONGOING PROCESS OF INTERNATIONAL BANK REGULATORY AND SUPERVISORY CONVERGENCE: A NEW REGULATORY-MARKET “PARTNERSHIP”, 16 Annual Review of Banking Law 227 (1997) (co-author).

INTERNATIONAL ASSET SECURITIZATION (co-editor, 12 chs. 1995).

Curriculum Vitae

Education

A.B., Providence College
LL.B. (hons.), University of Edinburgh
LL.M., University of Texas
S.J.D., University of Michigan
Diplôme (droit privé), Hague Academy of International Law;
D.Phil. (Law), Oxford University; LL.D (h.c.) (Stockholm)
LL.D (London)