Financial Regulation and Implementing Rules Applicable to the General Budget of the European Communities PDF Download
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Languages : en
Pages : 0
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Author:
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Languages : en
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Author: Scott James
Publisher: Oxford University Press
ISBN: 019256420X
Category : Political Science
Languages : en
Pages : 330
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Book Description
The UK and Multi-level Financial Regulation examines the role of the United Kingdom (UK) in shaping post-crisis financial regulatory reform, and assesses the implications of the UK's withdrawal from the European Union (EU). It develops a domestic political economy approach to examine how the interaction of three domestic groups - elected officials, financial regulators, and the financial industry - shaped UK preferences, strategy, and influence in international and EU-level regulatory negotiations. The framework is applied to five case studies: bank capital and liquidity requirements; bank recovery and resolution rules; bank structural reforms; hedge fund regulation; and the regulation of over-the-counter derivatives. It concludes by reflecting on the future of UK financial regulation after Brexit. The book argues that UK regulators pursued more stringent regulation when they had strong political support to resist financial industry lobbying. UK regulators promoted international harmonisation of rules when this protected the competitiveness of industry or enabled cross-border externalities to be managed more effectively; but were often more resistant to new EU rules when these threatened UK interests. Consequently, the UK was more successful at shaping international standards by leveraging its market power, regulatory capacity, and alliance building (with the US). But it often met with greater political resistance at the EU level, forcing it to use legal challenges to block reform or secure exemptions. The book concludes that political and regulatory pressure was pivotal in defining the UK's 'hard' Brexit position, and so the future UK-EU relationship in finance will most likely be based on a framework of regulatory equivalence.
Author: Anthony Teasdale
Publisher: Penguin UK
ISBN: 9780141021188
Category : Europe
Languages : en
Pages : 0
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Book Description
The focus of this book is on the fifteen-member European Union but its coverage extends to many other bodies which form part of today's Europe, such as the Council of Europe, the European Economic Area and Western European Union.
Author: Olha O. Cherednychenko
Publisher: Edward Elgar Publishing
ISBN: 1789908116
Category : Law
Languages : en
Pages : 327
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Book Description
This insightful book provides a comprehensive analysis of the interplay between EU financial regulation and civil liability. It explores this interrelationship in order to determine whether a coordinated approach has been adopted.
Author: Tanja Boskovic
Publisher: World Bank Publications
ISBN: 0821382543
Category : Law
Languages : en
Pages : 186
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Book Description
This paper, aimed at professionals, scholars, and government officials in the field of securities regulations, compares the European (specifically the Market in Financial Instruments Directive MiFID) and U.S. securities regulations. The analysis focuses on the regulatory and supervisory framework, trading venues, and the provision of investment services. We show that although there may be regional differences in the structure and rules of current securities regulation, the objectives and some outcomes of regulation are comparable. Similarly, as the current global financial and economic crisis exposed gaps in securities regulations worldwide, regulators in both regions face similar challenges. This study will be particularly useful for World Bank member countries that are looking at either the European or U.S. regulations when conducting market reforms.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264311734
Category :
Languages : en
Pages : 199
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Book Description
Laws and regulations affect the daily lives of businesses and citizens. High-quality laws promote national welfare and growth, while badly designed laws hinder growth, harm the environment and put the health of citizens at risk. This report analyses practices to improve the quality of laws ...
Author: Anu Bradford
Publisher: Oxford University Press
ISBN: 0190088605
Category : Law
Languages : en
Pages : 425
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Book Description
For many observers, the European Union is mired in a deep crisis. Between sluggish growth; political turmoil following a decade of austerity politics; Brexit; and the rise of Asian influence, the EU is seen as a declining power on the world stage. Columbia Law professor Anu Bradford argues the opposite in her important new book The Brussels Effect: the EU remains an influential superpower that shapes the world in its image. By promulgating regulations that shape the international business environment, elevating standards worldwide, and leading to a notable Europeanization of many important aspects of global commerce, the EU has managed to shape policy in areas such as data privacy, consumer health and safety, environmental protection, antitrust, and online hate speech. And in contrast to how superpowers wield their global influence, the Brussels Effect - a phrase first coined by Bradford in 2012- absolves the EU from playing a direct role in imposing standards, as market forces alone are often sufficient as multinational companies voluntarily extend the EU rule to govern their global operations. The Brussels Effect shows how the EU has acquired such power, why multinational companies use EU standards as global standards, and why the EU's role as the world's regulator is likely to outlive its gradual economic decline, extending the EU's influence long into the future.
Author: Danny Busch
Publisher: Oxford Eu Financial Regulation
ISBN: 9780198767671
Category : Law
Languages : en
Pages : 0
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Book Description
PART I: GENERAL ASPECTS 1: Introduction, Danny Busch and Guido Ferrarini PART II: INVESTMENT FIRMS AND INVESTMENT SERVICES 2: The Scope of MiFID II, Kitty Lieverse 3: Governance of Investment Firms under MiFID II, Jens-Hinrich Binder 4: The Overarching Duty to Act in the Best Interest of the Client in MiFID II, Luca Enriques and Matteo Gargantini 5: Product Governance and Product Intervention, Danny Busch 6: Independent Financial Advice, Paolo Giudici 7: Conflicts of Interest, Stefan Grundmann and Philipp Hacker 8: Inducements, Larissa Silverentand, Jasha Sprecher, and Lisette Simons 9: Agency and Principal Dealing Under MiFID, Danny Busch 10: MiFID II/MiFIR's Regime for Third-Country Firms, Danny Busch & Marije Louisse PART III: TRADING 11: TGovernance and Organization of Trading Venues: The Role of Financial Market Infrastructures Groups, Guido Ferrarini & Paolo Saguato 12: EU Financial Governance and Transparency Regulation: A Test for the Effectiveness of Post-Crisis Administrative Governance, Niamh Moloney 13: SME Growth Markets, Carmine di Noia & Rudiger Veil 14: Dark Trading Under MiFID II, Peter Gomber & Ilya Gvozdevskiy 15: Derivatives: Trading, Clearing, STP, Indirect Clearing, and Portfolio Compression, Rezah Stegeman & Aron Berket 16: Commodity Derivatives, Antonella Sciarrone Alibrandi & Edoardo Grossule 17: Algorithmic Trading and High Frequency Trading, Pierre-Henri Conac 18: An American perspective, Merritt Fox PART IV: SUPERVISION AND ENFORCEMENT 19: Public Enforcement of MiFID II, Christos Gortsos 20: The Private Law Effect of MiFID: the Genil Case and Beyond, Danny Busch PART V: THE BROADER VIEW AND THE FUTURE OF MIFID 21: MiFID II: Picking up the Crumbs of a Piecemeal Approach, Veerle Colaert 22: Shadow Banking and the Functioning of Financial Markets, Eddy Wymeersch 23: Investment-based Crowdfunding: Is MiFID II enough?, Guido Ferrarini & Eugenia Macchiavello.
Author: Thomas Cottier
Publisher: Oxford University Press
ISBN: 0199668191
Category : Business & Economics
Languages : en
Pages : 470
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Book Description
Analysing the emerging international legal framework governing financial institutions and markets, including monetary policies and monetary regulation, this book addresses the cross border issues that arise within this area. It highlights the lack of formal international law present, and shows how this contributed to the global financial crisis.
Author: European Commission
Publisher:
ISBN:
Category : Budget
Languages : en
Pages : 416
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Book Description
This is the third edition of 'European Union Public Finance'. Like its two predecessors, it comes out at a key moment for European integration. In 1989 a major reform of the financial system and budget procedure had been introduced following the proposals contained in the Delors package. In 1995 a new financial framework had just been adopted for the period 1993-99, taking into account the Treaty on European Union and the accession of three new Member States. This new edition takes on board the impact of the Agenda 2000 financial framework adopted at the Berlin European Council in March 1999. A coherent set of measures has been taken to pave the way for the next enlargement and major reforms have been introduced in the biggest areas of Union expenditure - the common agricultural policy and structural operations. As this new financial framework is put in place, the European Commission is reforming its own internal workings and procedures to increase its effectiveness. One of the main strands of this reform is to modernise financial management. This should lead to more efficient financial procedures and quicker payments, as part of a general drive to make better use of taxpayers' money. The Commission's administrative reforms also include a new strategic planning system designed to ensure a closer match between activities performed and resources allocated. This entails a radical overhaul of the process for preparing the Commission's preliminary draft budget. The purpose of this publication is to provide an insight into Community public finances that, if not exhaustive, is at least wide-ranging and accurate. With its division into separate chapters and the inclusion of a detailed summary, it can also serve as a reference work. The finances of the European Union are in constant development. The system they represent is both a legacy of the past, which explains some of its complexity, and an ongoing effort to improve and adapt. Further changes will be needed in the years ahead, for example to meet the challenge of enlargement. The Intergovernmental Conference in 2004 will be an opportunity to reform the Community system of finance. Also, as this edition goes to press, a proposal for recasting the financial regulation is nearing adoption. We have therefore included a discussion of the prospects for the future.
