Dr Pierre Schammo, Dphil (Oxon); LLM (Leiden); Maîtrise en droit (Strasbourg)
Pierre Schammo is a Reader in Law at Durham Law School and co-director of the Durham European Law Institute. Before joining Durham University, he was a lecturer in company and commercial law at the University of Manchester, and a research fellow in European financial and corporate law at the British Institute of International and Comparative Law in London. He trained as a lawyer in Luxembourg. Pierre completed his D.Phil degree at the University of Oxford (Magdalen College) after graduating from the universities of Leiden, the Netherlands (LL.M., cum laude) and Strasbourg, France (maîtrise en droit privé, mention bien).
Pierre is associated with the Jean Monnet Centre for EU Studies at Keio University (Tokyo, Japan) and the Jean Monnet Centre of Excellence on Sustainable Finance and Law at the University of Genoa (Italy). He is a visiting lecturer at the Institute of Advanced Legal Studies (University of London) and held visiting positions at Keio University, the London School of Economics and Political Science (European Institute) and at Oxford University (Institute of European and Comparative Law). He is an external examiner in the law departments of University College London and the London School of Economics and Political Science.
Pierre’s research is mainly at the intersection of financial/banking law, EU law and ‘law in context’. He has written extensively on prospectus regulation and regulatory competition. More recent research includes work on the European System of Financial Supervision, the Banking Union and the Capital Markets Union. His work on the Capital Markets Union was cited by the European Commission in the context of the Commission's initiatives on SME funding. His research on abuse of law in the EU legal order, and the European System of Financial Supervision was cited by the Court of Justice of the European Union (legal opinions in Case C-270/12 United Kingdom vs European Parliament and Council; Case C-251/16 Cussens and others v T.G. Brosnan). His most recent work on the European System of Financial Supervision informed the draft recommendations of the European Parliament’s Committee on Economic and Monetary Affairs (ECON) on reforming the 'breach of Union law procedure' of the European Supervisory Authorities. He acted as UK co-rapporteur on the Banking Union for the 2016 congress of the Federation of European Lawyers (FIDE) and as an expert on European banking supervision for the 2019 Luxembourg expert forum (13. Luxemburger Expertenforum) at the Court of Justice of the European Union.
- Financial Regulation
- Internal Market Law
Conference participation and guest seminars/lectures (selected)
- ‘Comments on Abuse of Rights in EU law’, invited discussant of Takis Tridimas’s paper on abuse of rights in EU financial law at the conference on “‘Prohibition of Abuse of Law’: A New General Principle of EU Law?”, Centre for Business Taxation and Institute of European and Comparative Law, University of Oxford, 3rd and 4th October 2008
- ‘Equivalence-based Regulation and EU Prospectus Law - the Shadow Regime’, invited paper at the corporate finance roundtable on ‘Corporate Finance Law: UK and EU Perspectives’, UCL Centre for Commercial Law, University College London, Faculty of Laws, 28th and 29th April 2010
- ‘The European System of Financial Supervision and the European Securities and Markets Authority: a First Assessment’, guest speaker at the Keio Jean Monnet Centre for EU Studies, Keio University (Tokyo), 8th January 2011
- ‘EU Prospectus Law’, guest speaker at the 30th Study Group on Financial Instruments and Exchange Law, and US Capital Markets Law, Waseda University (Tokyo), 22nd April 2011
- ‘EU Day-to-Day Supervision or Intervention-Based Supervision: Which Way Forward for the European System of Financial Supervision?’, guest lecture at the Chinese University of Political Science and Law (Beijing), 1st June 2012
- ‘Home Country Control with Consent: a New Paradigm for the Internal Market?’, guest seminar at the Centre for European Legal Studies, Cambridge University, Faculty of Law, 24th October 2012
- 'Harmonization versus Diversification of Global Financial Regulation', invited speaker at the Fordham Journal of Corporate & Financial Law Annual Symposium, Fordham Law School, Fordham University (New York), 11th February 2013
- 'Differentiated Integration and the Single Supervisory Mechanism', invited paper at the 'Britain Alone Conference', King's College London, 9th May 2014
- 'Differentiated Integration and the Single Supervisory Mechanism: which way forward for the European Banking Authority?', guest lecture, University of Luxembourg, 28th November 2014
- 'Capital Markets Union and Small and Medium-sized Enterprises (SMEs): a preliminary assessment', invited paper at the EUI conference on 'The New Financial Architecture of the Eurozone', organised by the European University Institute, Robert Schuman Centre for Advanced Studies and Imperial College London, Brevan Howard Centre for Financial Analysis, 23rd April 2015
- ‘The ECB’s duty of care for the unity and integrity of the internal market’, invited speaker, guest seminar, University of Manchester, School of Law, 3rd May 2016
- Invited national co-rapporteur for the UK on the Banking Union, 2016 Congress of FIDE (Fédération Internationale pour le Droit Européen), 18-21 May 2016, Budapest (Hungary)
- ‘Beyond the crisis? Financial Stability in a Capital Markets Union’, invited paper, 4th CCLS Roundtable on Financial Regulation: ‘The implementation of the FSB Key Attributes in the EU’, Centre for Commercial Law Studies, Queen Mary, University of London, 17 June 2016
- ‘Facilitating SME Funding’, invited contribution, European Company and Financial Law Review Symposium, University of Copenhagen, 30 September 2016
- 'Market Regulation and EU Agencies', invited contribution, International Workshop on EU Market Regulation, Financial Crimes and Global Security Governance, University of Amsterdam, 21 October 2016
- 'Market building and the Capital Markets Union: Removing information barriers to investment in SMEs' invited speaker, Centre for European Policy Studies, Brussels, 8 February 2017
- Roundtable on SME Access to Finance (Capital Markets Union mid-term review 2017), invited participant, European Commission (DG FISMA), Brussels, 20 March 2017
- 'The new Prospectus Regulation', invited speaker, Academy of European Law: 'EU Capital Markets Union: Latest Developments', Brussels, 4-5 May 2017
- 'Supervisory convergence as part of financial supervision', invited speaker, Annual Conference on Financial Supervision in the EU, Academy of European Law, Brussels, 7-8 December 2017
- ‘Finance platforms, mandatory information sharing and SME funding’, speaker (and co-organiser), conference on ‘The Transformation of Finance and Investment: Information and Technology Revolutions’, UCL, University of Edinburgh, University of Durham, London, 22 March 2018
- ‘Inaction bias and macro prudential supervision’, speaker, conference on ‘Regulation of the Banking Sector: Challenges and Emerging Issues’, University of Bristol, School of Law, Bristol, 10-11 May 2018
- 13. Luxemburger Expertenforum, invited expert: EU banking supervision, Court of Justice of the European Union, Luxembourg, 1 October 2019
- 'EU macro-prudential supervision' invited guest lecture, Master 2 Droit financier, Université Paris 1, Panthéon-Sorbonne, 10 October 2019
- 'The curious case of Landeskreditbank Baden-Württemberg v ECB, and the decision of the Bundesverfassungsgericht on the European Banking Union', University of Oxford, Institute of European and Comparative Law jointly with the EU Law Discussion Group, 31 October 2019
Durham Law School
- Capital Markets Regulation
- Financial Markets and Banking Supervision
- Internal Market Law
- Regulation and law in context research (law and political science, and law and economics)
- Schammo, P. (2011). EU Prospectus Law - New Perspectives on Regulatory Competition in Securities Markets. Cambridge: Cambridge University Press.
- Schammo, P. (2013). L Hornuf, Regulatory Competition in European Corporate and Capital Market Law: An Empirical Analysis (Cambridge, Intersentia, 2012). European Law Review 38(5): 723-725.
- Schammo, P. (2010). Review of Niamh Moloney's EC Securities Regulation (OUP 2008). European Business Organization Law Review 11(2): 309-315.
Chapter in book
- Schammo, P (2020). Who knows what tomorrow brings? Of uncertainty in times of a pandemic. In Covid-19 and Business Law. Eidenmüller, H, Enriques, L, van Zwieten, K & Helleringer, G Beck. 95-97.
- Schammo, P. (2019). Banking Union and Brexit: the challenge of geography. In The European Banking Union and the Role of Law. Lo Schiavo, G. Cheltenham Edward Elgar. 87-107.
- Schammo, P. (2016). Differentiated Integration and the Single Supervisory Mechanism: which way forward for the European Banking Authority?. In Britain Alone! The Implications and Consequences of United Kingdom Exit from the EU. Birkinshaw, P. & Biondi, A. Alphen aan den Rijn: Kluwer Law International. 311-335.
- Georgosouli, A. & Schammo, P. (2016). National Report – United Kingdom. [erroneously attributed to Tridimas, T. in the initial print run]. In European Banking Union. XXVII. FIDE Congress Proceedings. Bándi, Gy, Darák, P., Halustyik, A. & Láncos, P. Budapest: Wolters Kluwer. 1: 584-607.
- Schammo, P. (2015). Capital Markets Union and Small and Medium-sized Enterprises (SMEs): a Preliminary Assessment. In The new financial architecture in the Eurozone. Allen, F., Carletti, E. & Gray, J. Florence: FIC Press. 137-176.
- Schammo, P. (2014). Marchés financiers - émetteurs. In Lexis Nexis, JurisClasseur: Europe Traité. 1-22.
- Schammo, P. (2011). Comments on abuse of rights in EU law. In Prohibition of abuse of law a new general principle of EU law?. de la Feria, R. & Vogenauer, S. Oxford: Hart. 193-199.
- Schammo, P. (2011). Corporate Finance Law in the UK and the EU. In Equivalence-based Regulation and EU Prospectus Law - the Shadow Regime. Prentice, D. & Reisberg, A. OUP. 493-518.
- Avgouleas, E, Chiu, I & Schammo, P (2019). FinTech Revolution and Regulation. European Business Organization Law Review, 20 (1): Springer.
- Schammo, P (2021). Institutional change in the Banking Union: the case of the Single Supervisory Mechanism. Yearbook of European Law 40.
- Schammo, P. (2019). ‘Undisruption’ in the SME funding market: information sharing, finance platforms and the UK bank referral scheme. European Business Organization Law Review 20(1): 29-53.
- Avgouleas, E, Chiu, I & Schammo, P (2019). Editorial (Fintech Revolution and Regulation). European Business Organization Law Review 20(1): 1-4.
- Schammo, P (2019). Inaction in macro-prudential supervision: assessing the EU's response. Journal of Financial Regulation 5(1): 1-28.
- Schammo, P. (2018). Actions and inactions in the investigation of breaches of Union law by the European Supervisory Authorities. Common Market Law Review 55(5): 1423-1455.
- Schammo, P. (2017). Market building and the Capital Markets Union: addressing information barriers in the SME funding market. European Company and Financial Law Review 14(2): 271-313.
- Schammo, P. (2017). The European Central Bank’s duty of care for the unity and integrity of the internal market. European Law Review 42(1): 3-26.
- Schammo, P. (2013). Home country control with consent: a new paradigm for ensuring trust and cooperation in the internal market?. Cambridge Yearbook of European Legal Studies 15: 467-501.
- Schammo, P. (2012). EU Day-to-Day Supervision or Intervention-Based Supervision: Which Way Forward for the European System of Financial Supervision?. Oxford Journal of Legal Studies 32(4): 771-797.
- Schammo, P. (2011). The European Securities and Markets Authority: Lifting the Veil on the Allocation of Powers. Common Market Law Review 48(6): 1879-1913.
- Schammo, P. (2008). Arbitrage and abuse of rights in the EC legal system. European Law Journal 14(3): 351-376.
- Schammo, P. (2008). Regulating transatlantic stock exchanges. International and Comparative Law Quarterly 57(4): 827-862.
- Schammo, P. (2006). The prospectus approval system. European Business Organization Law Review 7(2): 501-523.
- Schammo, P (2020). "Next Generation EU": the Commission's plan to boldly go where no EU agreement has gone before [editorial comments]. The Company Lawyer 41(11): 337-338.
- Schammo, P (2020). Negotiating the future, Brexit and the spectre of regulatory competition [editorial comments]. The Company Lawyer 41(8): 217-218.
- Schammo, P (2019). ‘Sunk like the Titanic’ the Commission’s proposals on reforming the governance of the European Supervisory Authorities [editorial comments]. The Company Lawyer 40(10): 309-311.
- Schammo, P (2019). Wightman is not the road to never-never land (but would you rather plunge into the Brexit abyss?) [editorial comment]. The Company Lawyer 40(2): 37-38.
- Schammo, P. (2018). Caught in a cross-fire? The US CFTC and the European Commission’s proposals on third-country CCPs [editorial comments]. The Company Lawyer 39(9): 277-278.
- Schammo, P. (2018). The Commission's agenda on financial supervision: forging ahead of Brexit [editorial comments]. The Company Lawyer 39(1): 1-2.
- Schammo, P. (2017). Brexit and the Capital Markets Union: thoughts on the European Commission's mid-term review. [editorial comments]. The Company Lawyer 38(4): 105-106.
- Schammo, P. (2017). The EU Capital Markets Union and Brexit: time to move on. [editorial comments]. The Company Lawyer 38(10): 301-302.
- Schammo, P. (2016). Protecting the City of London? UK challenges before the Court of Justice of the EU. [editorial comments]. The Company Lawyer 37(1): 1-2.
- Schammo, P. (2016). The UK’s five “noes” on EU economic governance. [editorial comments]. The Company Lawyer 37(7): 201-202.
- Schammo, P. (2015). Protecting the City of London? UK challenges before the Court of Justice of the European Union. [editorial comments]. The Company Lawyer 36(3): 65-66.
- Schammo, P. (2014). Protecting the City of London? UK challenge to EU agency law. [editorial comments]. The Company Lawyer 35(2): 33-34.
- Schammo, P. (2014). Protecting the City of London? UK challenges before the Court of Justice of the European Union. [editorial comments]. The Company Lawyer 35(7): 193-194.
- 2004: AFR Grant, Luxembourg (EUR 43,332)