http://arxiv.org/abs/1305.6315 Why gravity codes the renormalization of conformal field theories Henrique Gomes, Sean Gryb, Tim Koslowski, Flavio Mercati, Lee Smolin (Submitted on 27 May 2013) We give a new demonstration that General Relativity in d+1 dimensions with negative or positive cosmological constant codes the renormalization group behaviour of conformal field theories (CFT) in d dimensions. This utilizes Shape Dynamics, which is a conformally invariant theory known to be equivalent to General Relativity. A key result of Shape Dynamics is that the evolution of observables under local conformal transformations and spatial diffeomorphisms is shown to be equivalent to many fingered time, i.e., d+1-dimensional spacetime diffeomorphisms. This relationship explains why the renormalization group flow of a CFT is governed by a geometry with d+1-dimensional spacetime diffeomorphism invariance. 25 pages See point 3 on page 4. An interesting challenge to the Maldacena Conjecture. Potentially undermines by removing supporting evidence.