Photo of Dr Jay Cullen

Dr Jay Cullen

Position: Lecturer in Banking and Finance Law
Email Address:
Telephone: +44 (0)114 222 6856
Room No: AF03

Academic Profile

I am a lecturer in banking and finance law, and the assistant director of the Sheffield Institute for Corporate and Commercial Law (SICCL). My work is influenced by the economic and financial theories of Hyman Minsky, and I am particularly interested in bank capital and liquidity regulation, and the effects of bank credit on real estate markets. I also take an interest in bankers' compensation and bank corporate governance. I supervise PhD students in these areas.

My work on bank leverage and corporate governance has been quoted by the Financial Times, the Bank of England and the European Commission. In addition, I have acted as a consultant to NGOs on EU financial regulation, and I am an associated expert at the Institute for New Economic Thinking. I am also a member of the Sustainable Market Actors Network, hosted by the Law Faculty at the University of Oslo. In the Spring of 2016, I was a visiting scholar at Columbia University, New York at the invitation of Professor Katherine Pistor. My work has been presented at leading academic venues including the Institute for New Economic Thinking, Oxford University, Berkeley, and The National Institute for Economic and Social Research.

I have organised major inter-disciplinary SICCL events, including conferences on banking law and regulation (Law and Monetary Theory Conference and Law and Money 2nd Annual Conference), as well as lectures delivered by leading public figures in banking and finance (Professor Admati Public Lecture).


  • PhD
  • LLM
  • BA
  • FHEA
  • LTHE

Learning and Teaching

I have taught a wide variety of postgraduate and undergraduate subjects and believe strongly in research-led teaching. My teaching and research are interdisciplinary and focus on the points where law and financial markets meet. I try to help students to think critically about prevailing economic and financial paradigms and encourage them to think about how the law may contribute to enhancing financial market outcomes.

The modules I teach are:

Undergraduate Postgraduate and MA
Law of Contract Finance and Banking
Equity & Trusts
The Law Relating to Public Companies
Bank and Financial Services Regulation (Convenor)

Research Interests

  • Financial Regulation
  • Banking Law
  • Corporate Governance

Assistant Director of the Sheffield Institute of Corporate and Commercial Law.

Recent Invited Papers and Keynote Lectures

  • University of Oslo, Financial Transparency, Risks and Regulation,1st February 2017, 'Central Counterparties and Systemic Risk' (with Alberto Montagnoli),
  • Institute for New Economic Thinking, Plenary Conference, Central European University, Budapest, 20 October 2016, 'Securitisation, Mortgage Markets and the Capital Markets Union'.
  • Liquidity and Finance Workshop, Oxford University, 5th June 2015, 'Liquidity Regulation and Real Estate Markets'
  • Institute for New Economic Thinking Annual Conference: Liberte, Egalite, Fragilite, OECD, Paris, 8th April 2015, 'Promoting Bank Stability Through Compensation Reform: Lessons from Iceland' (with Gudrun Johnsen)
  • International Financial Regulation Workshop, Berkeley School of Law, University of California, Berkeley, April 2013, 'Why Leverage and Bank Structure and not Compensation are the keys to Good Bank Governance' (with Professor Emilios Avgouleas). See for further details.
  • Public and Private Models of Biobanking, University of Sheffield (March 2013), Invited Speaker.
  • Post-Crisis Trajectories of European Corporate Governance, University of Leeds, September 2012, 'Market Discipline and Corporate Governance in the EU Banking Sector: Intellectual Fallacies, Cognitive Boundaries and Groupthink' (with Professor Emilios Avgouleas)

Key Projects

Title/Description: Sustainable Market Actors for Responsible Trade (SMART)
Awarding Body: European Commission Horizon 2020
People Involved: Professor Andrew Johnston (Sheffield); Dr Andreas Ruhmkorf (Sheffield); Faculty of Law, University of Oslo
Years Funded for: 2016-2018
Amount: €93,663
Title/Description: The Regulation of Liquidity in Financial Markets
Awarding Body: British Academy/Leverhulme Small Research Grants
Years Funded for: 2016-2017
Amount: £1,790
Title/Description: EU Financial Regulations Relating to Landgrabbing
Awarding Body: Global Witness/Friends of the Earth Europe
People Involved: Professor Andrew Johnston (Sheffield); Dr Ting Xu (Sheffield)
Years Funded for: 2015-2016
Amount: £5,200

Key Publications


Journal articles