May 11
12:15 pm - 1:30 pm
The Fragmentation of Commercial Law: Challenges and Normative Approaches

The University of Zurich, within the University Research Priority Program (URPP) on Financial Market Regulation, and the University of Hong Kong, Faculty of Law’s Asian Institute of International Financial Law (AIIFL) are glad to co-host the 59th Financial Market Regulation Forum. The event is organised by the University of Zurich, Faculty of Law and it will be held online on 11 May 2021 (12:15pm CEST); registration is required (details below).


The Fragmentation of Commercial Law: Challenges and Normative Approaches
Dr. Giuliano G. Castellano
Associate Professor and AIIFL Deputy Director
Faculty of Law, University of Hong Kong


Commercial law is not a single, monolithic entity. It has grown into a dense thicket of subject-specific branches that govern a broad range of transactions and corporate actions. When one of these events falls concurrently within the purview of two or more of these commercial law branches – such as corporate law, intellectual property law, secured transactions law, conduct and prudential regulation – an overlap materializes. This legal phenomenon is referred to as a “commercial law intersection” (CLI). Some notable examples of transactions that feature CLIs include bank loans secured by shares, supply chain financing arrangements, patent cross-licensing, and blockchain-based token financing.


In this event, Dr. Castellano shares his research on CLIs and provides an analysis of common coordination failures arising in this area. Drawing from systems theory and jurisprudence, he then identifies the deficiencies of the most common interpretative approaches used to reconcile tensions between commercial law branches, and proposes a two-step interpretive method as a possible solution.


Paper: Giuliano G. Castellano and Andrea Tosato, “Commercial Law Intersections” 72 Hastings Law Journal, (2021); and U of Penn, Inst for Law & Econ Research Paper No. 20-31, preview available at


Moderator: Dr. Marco Dell’Erba, Assistant Professor of Corporate & Financial Law, Faculty of Law, University of Zurich


Date: 11 May 2021 (Tuesday)
Time: 12:15 – 1:30 PM Central European Summer Time (CEST)

​Details and Registration are available at
Registration link:​


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