Download or read book Building an EU Securities Market written by Eilís Ferran and published by . This book was released on 2004 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers some of the fundamental issues concerning the legal framework that has been established to support a single EU securities market. It focuses particularly on how the emerging legal framework will affect issuers' access to the primary and secondary market. The Financial Services Action Plan (FSAP, 1999) was an attempt to equip the community better to meet the challenges of monetary union and to capitalise on the potential benefits of a single market in financial services. It led to extensive change in securities market regulation: new laws; new law making processes, and more attention to the mechanisms for the supervision of securities market activity and legal enforcement. With the FSAP nearing completion, it is a good time to take stock of what has been achieved, and to identify the challenges that lie ahead.
Download or read book Updating EU Securities Market Regulation Adapting to the Needs of a Single Capital Market written by Karel Lannoo and published by Ceps. This book was released on 2001 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital markets in Europe are in a process of deep restructuring. At last, they are becoming more integrated and truly European. At the same time however, technological advancements are altering the interaction between markets and investors, posing serious challenges to the traditional capital market structure. This CEPS Task Force report reviews the recent developments in the European securities market industry, assessing its regulation and supervision while proposing a series of policy recommendations.
Download or read book EU Securities and Financial Markets Regulation written by Niamh Moloney and published by Oxford European Union Law Libr. This book was released on 2014 with total page 1111 pages. Available in PDF, EPUB and Kindle. Book excerpt: Previous editions published under title: EC securities regulation.
Download or read book EU Prospectus Law written by Pierre Schammo and published by Cambridge University Press. This book was released on 2011-05-19 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pierre Schammo provides a detailed analysis of EU prospectus law (and the 2010 amendments to the Prospectus Directive) and assesses the new rules governing the European Securities and Markets Authority, including the case law on the delegation of powers to regulatory agencies. In a departure from previous work on securities regulation, the focus is on EU decision-making in the securities field. He examines the EU's approach to prospectus disclosure enforcement and its implementation at Member State level and breaks new ground on regulatory competition in the securities field by providing a 'law-in-context' analysis of the negotiations of the Prospectus Directive.
Download or read book Building an EU Securities Market written by Eilís Ferran and published by Cambridge University Press. This book was released on 2004-11-25 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers some of the fundamental issues concerning the legal framework that has been established to support a single EU securities market. It focuses particularly on how the emerging legal framework will affect issuers' access to the primary and secondary market. The Financial Services Action Plan (FSAP, 1999) was an attempt to equip the community better to meet the challenges of monetary union and to capitalise on the potential benefits of a single market in financial services. It led to extensive change in securities market regulation: new laws; new law making processes, and more attention to the mechanisms for the supervision of securities market activity and legal enforcement. With the FSAP nearing completion, it is a good time to take stock of what has been achieved, and to identify the challenges that lie ahead.
Download or read book The Origins of Europe s New Stock Markets written by Elliot Posner and published by Harvard University Press. This book was released on 2009-02-15 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between 1995 and 2007, financial elites in more than a dozen western European countries engaged in a cross-border battle to create some twenty new stock markets, many of which were explicitly modeled on the American Nasdaq. The resulting high-risk, high-reward markets facilitated wealth creation, rewarded venture capitalists, and drew major U.S. financial players to Europe. But they also chipped away at the European social compacts between national governments and citizens, opening the door of smaller company finance to the broad trend of marketization and its bounties, and further subjecting European households and family businesses to the rhythms of global capital. Elliot Posner explores the causes of Europe’s emergence as a global financial power, addressing classic and new questions about the origins of markets and their relationship to politics and bureaucracy. In doing so, he attributes the surprising large-scale transformation of Europe’s capital markets to the rise of the European Union as a global political force. The effect of Europe’s financial ascendance will have major ramifications around the world, and Posner’s analysis will push market participants, policymakers, and academics to rethink the sources of financial change in Europe and beyond.
Download or read book EU Securities Market Regulation written by Karel LANNOO and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Europe s Hidden Capital Markets written by Jean-Pierre Casey and published by CEPS. This book was released on 2005 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assessing regulatory measures taken at the EU level that impact European bond markets, this book examines the desirability, utility, and feasibility of certain policy measures.
Download or read book The Age of ESMA written by Niamh Moloney and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Since its establishment in 2011, the European Securities and Markets Authority (ESMA) has become a pivotal actor in EU financial market regulation and supervision. Its burgeoning influence extends from the rule-making process to supervisory convergence/coordination to direct supervision. Reflecting the now critical importance of ESMA to how the EU regulates and supervises financial markets, and with ESMA at an inflection point in its evolution, particularly in light of the Commission's 2017 proposals to reform ESMA and the UK's withdrawal from the EU, The Age of ESMA maps, contextualises, and examines ESMA's role and the implications for EU financial market governance."--Bloomsbury Publishing.
Download or read book Integration of the Securities Market Infrastructure in the European Union written by Elias G. Kazarian and published by International Monetary Fund. This book was released on 2006-10 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the impact of ongoing cross-border integration of securities market infrastructure in the European Union. In particular, it analyzes the regulatory framework that has evolved to deal with the risks associated with cross-border clearing and settlement and concludes that, due to institutionalized deficiencies, the current cross-border regulatory framework may not be adequate or effective in addressing and preventing a real cross-border crisis. The paper proposes a two-tier regulatory framework for securities infrastructure in Europe entailing the creation of a centralized "federal" European regulatory framework for regional systems, in addition to the current national regulatory framework for domestic systems.
Download or read book Securities market regulation in the EU written by Karel Lannoo and published by CEPS. This book was released on 2004 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Evidence of Integration of the EU Securities Market Infrastructure written by Dennis O. Ilnitsky and published by . This book was released on 2013 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ensuring the free movement of capital is a crucial element of European integration, which has to rely on the political will of countries on the one hand, and their respective infrastructure - on the other. Reasoning of the assessment methods to evaluate the progress on integration of securities market infrastructure is one of the most pressing issues facing the European Commission today. The paper puts forward a hypothesis and finds evidence that the process of integration of securities market infrastructure in the EU countries enhances the convergence of average transactions size on organised markets.
Download or read book Why the European Securities Market is Not Fully Integrated written by Alberto Giovannini and published by . This book was released on 2008 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: "I describe the challenge of fully integrating securities markets in Europe by integrating the clearing and settlement functionalities. The initial condition is characterized by a multitude of standards, conventions, regulation and laws, which are inconsistent with a barrier-free post-trading environment. In addition, the current providers of post-trading services are mostly for-profit monopolies. The EU reform strategy is discussed in detail, and its performance so far is assessed. I argue that the special features of the post-trading industry may help understand the disappointing progress so far."--Summary.
Download or read book Changes in the Structure and Dynamics of European Securities Markets written by Alexander Benos and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper starts with an overview of the structural changes which have affected the European securities markets for the last ten years. Then we present the essential features of the trading structure of six European financial marketplaces, ranging from the North to the South. Both stock and derivative markets are analysed, with a particular emphasis on their newly acquired information technology infrastructures. Automated trade execution systems and market making are briefly discussed, in order to examine the future of European organised capital markets in view of the possible Monetary Union of 1999. It seems that in the meantime the competition between exchanges will be tough although the actual technologies and structures are converging faster than expected. To gain market power, institutions have to make strategic decisions. The ability to exploit them, however, depends ultimately on the self-interest of their members.
Download or read book The European Securities Industry Under a Single Currency written by Roy C. Smith and published by . This book was released on 2008 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the competitive dynamics of the securities industry in Europe and seeks to identify the major sources of competitive advantage for firms participating in the European industry in the future. It compares a variety of developments to date in the European market with those that have occurred in the United States over the past fifteen years to establish a benchmark position. It then attempts to assess what impact on the European securities industry the forthcoming adoption of a single European currency and Economic Monetary Union (EMU) will have. It restricts its examination, however, to the wholesale finance sector, focusing only on matters that effect markets for debt and equity securities that are issued or traded within Europe or across its borders, and related advisory services of investment banks and security firms. It does not address retail financial services, including brokerage in stocks, investment trusts or insurance, or retail banking services. Participants in the wholesale finance industry are broadly defined to include European universal banks and securities firms as well as all firms operating in Europe that are owned or controlled by non-Europeans. The aim is to create a composite picture of the European securities industry of the future and what will be required to succeed in it.
Download or read book Building a Capital Markets Union Or Designing a Financial System for the Euro Area written by Anton Brender and published by . This book was released on 2015 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this CEPS Commentary, economists Anton Brender, Florence Pisani and Daniel Gros challenge the foundation on which the European Commission launched a key debate earlier this year on the development of the EU's financial system, with publication of its Green Paper "Building a Capital Markets Union". While acknowledging that a single capital market could be useful in the European Union, they argue that it is extremely dangerous to conduct one and the same monetary policy in an area with broadly varying financial practices and structures--as the first 15 years of the euro area's history have vividly shown. They conclude that financial integration of the countries in EMU must receive top priority in a process that the rest of the European Union may then subsequently join. The authors also take exception with the European Commission's call for the "liberalisation" of capital flows. In their view, the problem in the euro area specifically is not just a matter of suppressing or eliminating barriers to allow capital to circulate more freely, but rather of building new channels that will allow economies to more fully mobilise and more efficiently allocate the savings potential in the area.--Publisher description
Download or read book High Finance in the Euro zone written by Ingo Walter and published by Pearson Education. This book was released on 2000 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: The complete, up-to-the-minute investment banking briefing for everyone who does business in Europe. European finance after the Euro: What next? Understanding the dramatic changes throughout the European financial sector: who will thrive, who will survive -- and who won't. The new Euro marketplace: equities, markets, exchanges, fixed income securities, M&As, privatization, asset management, and more. The world of finance after the Euro: an insightful, up-to-the-minute briefing from two leaders of the US international investment banking community. The Euro has set the stage for what is likely to become the world's second largest capital market: a unified Europe. In this revolution, the most efficient, creative financial approaches will win -- with dramatic implications for how European companies and joint ventures finance themselves, how they are governed, how European markets evolve, how investments are managed, and which financial centers will dominate. This book offers wide-ranging insights into the dramatic changes that are well underway in the wake of the Euro, covering virtually every aspect of European finance, from equities and fixed income assets to markets, exchanges, corporate governance, and business culture.
