European Agencies And Risk Governance In Eu Financial Market Law

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European Agencies and Risk Governance in EU Financial Market Law

Paul Weismann
European Agencies and Risk Governance in EU Financial Market Law Book PDF

Author : Paul Weismann
Publisher : Routledge
Page : 244 pages
File Size : 50,9 Mb
Release : 2016-05-20
Category : Law
ISBN : 9781317480167

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European Agencies and Risk Governance in EU Financial Market Law by Paul Weismann Pdf

The phenomenon of ‘agencification’ describes the EU legislator’s increasing establishment of European agencies to fulfil tasks in a variety of EU policies. The creation of these decentralised administrative entities raises a number of questions; for example, on the limits to such delegation of powers, on the agencies’ institutional development and possible classification, and on the role of comitology committees as an institutional alternative. This book examines the EU’s ‘agencification’ with regard to these questions, on the basis of and with reference to which the focus is laid on the European agencies operating in the field of financial market risk governance. This analysis not only encompasses the three European Financial Market Supervisory Authorities (the ESAs), but also takes into account the institutional change brought about by the Banking Union, more specifically the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). While the SRM sets in place a new European agency, the Single Resolution Board (SRB), the SSM establishes and empowers a new body within the organisation of the European Central Bank (ECB), the Supervisory Board. By exploring the organisation, the tasks and the powers of these actors in financial market regulation and supervision, the book points at the current peak of the institutional development of European agencies and assesses organisation and unprecedented powers with a view to their compliance with EU law, in particular the Treaties and the respective case law of the European courts. As an evaluation of various aspects of the progressing centralisation of regulatory power on the EU level, which is exercised by an increasingly decentralised administrative apparatus, this book will be of great interest and use to students and scholars of EU law, financial law and regulation, and European politics.

The Role of Financial Stability in EU Law and Policy

Gianni Lo Schiavo
The Role of Financial Stability in EU Law and Policy Book PDF

Author : Gianni Lo Schiavo
Publisher : Kluwer Law International B.V.
Page : 328 pages
File Size : 50,5 Mb
Release : 2016-04-24
Category : Law
ISBN : 9789041186126

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The Role of Financial Stability in EU Law and Policy by Gianni Lo Schiavo Pdf

Since the outbreak of the 2008 financial crisis, European Union (EU) institutions and Member States have engaged in a major effort to repair the architecture of economic governance of the European Economic and Monetary Union (EMU). This book takes as its starting point the unclear notion of financial stability, which only recently has received a more detailed legal analysis. It examines the evolution of the concept of financial stability during the financial crisis and provides a conceptual framework in order to demonstrate that financial stability has become a foundational objective in Europe and has set a new normative framework in EU law and policy. Arguing that financial stability is a foundational objective in EU law and policy based on certain normative instruments, this ground-breaking book provides an in-depth and original understanding of the newly developed framework to attain supranational financial stability. In its analysis of the legal implications of these new instruments, the study examines topics and issues such as the following: - the concept and normative instruments of financial stability at European level; - the renewed economic governance in Europe; - the financial assistance mechanisms developed in Europe; - the new regulatory environment for banks at European level; - the Single Supervisory Mechanism and the role of the European Central Bank (ECB) therein; and - the new framework for banking resolution, with specific focus on the Single Resolution Mechanism. The author shows in detail how an appropriate level of supranational regulation, supervision, burden-sharing and rescue measures strengthen financial stability. Thereby, the book will appeal to officials in EU institutions and agencies as well as lawyers and academics in EU law and in banking/financial law to gain a clear understanding of role of financial stability and its normative instruments in EU law and policy. Gianni Lo Schiavo is currently working as a lawyer at the ECB. He obtained a PhD in EU Law at King's College, London, and has written numerous articles and chapters in EU administrative law, EU financial/banking law and EU competition law.

The Age of ESMA

Niamh Moloney
The Age of ESMA Book PDF

Author : Niamh Moloney
Publisher : Bloomsbury Publishing
Page : 392 pages
File Size : 46,8 Mb
Release : 2018-11-29
Category : Law
ISBN : 9781509921799

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The Age of ESMA by Niamh Moloney Pdf

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.

Regulating and Supervising European Financial Markets

Mads Andenas,Gudula Deipenbrock
Regulating and Supervising European Financial Markets Book PDF

Author : Mads Andenas,Gudula Deipenbrock
Publisher : Springer
Page : 437 pages
File Size : 55,8 Mb
Release : 2016-08-16
Category : Law
ISBN : 9783319321745

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Regulating and Supervising European Financial Markets by Mads Andenas,Gudula Deipenbrock Pdf

The book analyses the institutions of the European financial market supervision and the challenges of financial markets. The current European supervisory structure for financial markets represents a major development in European supervisory history. Its operation however has to be explored and analysed critically. Has it gone far enough to provide a sufficiently comprehensive and resilient system to reduce or mitigate systemic risks and handle financial crises? Some claim it has gone too far already. Fresh and rigorous critical legal and economic analysis from an independent scholarly perspective are needed to assess whether the institutional design of the European supervisory architecture has proved itself to be an efficient and effective model. This book discusses many dimensions of the structure and workings of the European system from various angles providing different dimensions. The book makes an important contribution to the limited literature on financial market supervision.

Regulation Through Agencies in the EU

Damien Geradin,University, The Netherlands, Rodolphe Muñoz,Nicolas Petit
Regulation Through Agencies in the EU Book PDF

Author : Damien Geradin,University, The Netherlands, Rodolphe Muñoz,Nicolas Petit
Publisher : Edward Elgar Publishing
Page : 304 pages
File Size : 44,5 Mb
Release : 2005-01-01
Category : Business & Economics
ISBN : 1781950237

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Regulation Through Agencies in the EU by Damien Geradin,University, The Netherlands, Rodolphe Muñoz,Nicolas Petit Pdf

The past decade has witnessed a proliferation of regulatory agencies at both the national and the EU level. This coherent and clearly structured book is the first of its kind to analyse in equal measure, and interdependently, both national regulatory authorities and European agencies. It brings together a select group of highly esteemed contributors - authorities in their fields - to provide a systematic and over-arching view of regulation in the EU. Unlike many of the previous attempts to shed light on this increasingly opaque and complex co-existence of regulatory systems, this book takes a genuinely multi-disciplinary approach with integrated perspectives from law, politics and economics.

Risk and EU law

Hans-W. Micklitz,Takis Tridimas
Risk and EU law Book PDF

Author : Hans-W. Micklitz,Takis Tridimas
Publisher : Edward Elgar Publishing
Page : 272 pages
File Size : 52,7 Mb
Release : 2015-09-25
Category : Business & Economics
ISBN : 9781783470945

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Risk and EU law by Hans-W. Micklitz,Takis Tridimas Pdf

Risk and EU Law considers the multiple reasons for the increase in the types and diversity of risks, as well as the potential magnitude of their undesirable effects. The book identifies such reasons as; the openness of liberal societies; market competition; the constant endeavour to innovate; as well as globalization and the impact of new technologies. It also explores topics surrounding the social epistemology of risk observation and management, the role of science in political and judicial decision-making and transnational risk regulation and contractual governance.

Digital Finance in Europe: Law, Regulation, and Governance

Emilios Avgouleas,Heikki Marjosola
Digital Finance in Europe Law Regulation and Governance Book PDF

Author : Emilios Avgouleas,Heikki Marjosola
Publisher : Walter de Gruyter GmbH & Co KG
Page : 291 pages
File Size : 54,8 Mb
Release : 2021-12-20
Category : Law
ISBN : 9783110749472

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Digital Finance in Europe: Law, Regulation, and Governance by Emilios Avgouleas,Heikki Marjosola Pdf

Global finance is in the middle of a radical transformation fueled by innovative financial technologies. The coronavirus pandemic has accelerated the digitization of retail financial services in Europe. Institutional interest and digital asset markets are also growing blurring the boundaries between the token economy and traditional finance. Blockchain, AI, quantum computing and decentralised finance (DeFI) are setting the stage for a global battle of business models and philosophies. The post-Brexit EU cannot afford to ignore the promise of digital finance. But the Union is struggling to keep pace with global innovation hubs, particularly when it comes to experimenting with new digital forms of capital raising. Calibrating the EU digital finance strategy is a balancing act that requires a deep understanding of the factors driving the transformation, be they legal, cultural, political or economic, as well as their many implications. The same FinTech inventions that use AI, machine learning and big data to facilitate access to credit may also establish invisible barriers that further social, racial and religious exclusion. The way digital finance actors source, use, and record information presents countless consumer protection concerns. The EU’s strategic response has been years in the making and, finally, in September 2020 the Commission released a Digital Finance Package. This special issue collects contributions from leading scholars who scrutinize the challenges digital finance presents for the EU internal market and financial market regulation from multiple public policy perspectives. Author contributions adopt a critical yet constructive and solutions-oriented approach. They aim to provide policy-relevant research and ideas shedding light on the complexities of the digital finance promise. They also offer solid proposals for reform of EU financial services law.

European Capital Markets Law

Rüdiger Veil
European Capital Markets Law Book PDF

Author : Rüdiger Veil
Publisher : Bloomsbury Publishing
Page : 849 pages
File Size : 41,8 Mb
Release : 2017-04-06
Category : Law
ISBN : 9781782256533

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European Capital Markets Law by Rüdiger Veil Pdf

European capital markets law has developed rapidly in recent years. The former directives have been replaced by regulations and numerous implementing legal acts aimed at ensuring a level playing field across the EU. The financial crisis has given further impetus to the development of a European supervisory structure. This book systematises the European law and examines the underlying concepts from a broadly interdisciplinary perspective. National experiences in selected Member States – Austria, France, Germany, Italy, Spain, Sweden and the United Kingdom – are also explored. The first chapter deals with the foundations of capital markets law in Europe, the second explains the basics, and the third examines the regime on market abuse. Chapter four explores the disclosure system and chapter five the roles of intermediaries, such as financial analysts, rating agencies and proxy advisers. Short selling and high frequency trading is described in chapter six. Chapter seven deals with financial services and chapter eight explains compliance and corporate governance in investment firms. Chapter nine illustrates the regulation of benchmarks. Finally, chapter ten deals with public takeovers. Throughout the book emphasis is placed on legal practice, and frequent reference is made to the key decisions of supervisory authorities and courts.

Agencies in European Banking

Marta Božina Beroš
Agencies in European Banking Book PDF

Author : Marta Božina Beroš
Publisher : Springer
Page : 99 pages
File Size : 45,5 Mb
Release : 2018-06-18
Category : Business & Economics
ISBN : 9783319786896

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Agencies in European Banking by Marta Božina Beroš Pdf

This book studies relationship dynamics between National Competent Authorities (NCAs) within two agencies governing the European banking sector: the European Banking Authority and the Single Resolution Board. The analysis centres on NCAs policy preferences and the variety thereof, particularly in the context of banking market fragmentation (Euro area vs. non-Euro area countries/banking union "ins" and "outs"). The focus is not so much on the motivations of these preferences, but on the processes and mechanisms that help reach NCAs consensus on prudential matters. Through an interdisciplinary approach rooted in legal analysis and political economy, the book shows how national actors inform decision-making within European agencies in banking, and whether—and how—the reality of differentiated integration within the internal banking market challenges policy creation.

EU Securities and Financial Markets Regulation

Niamh Moloney
EU Securities and Financial Markets Regulation Book PDF

Author : Niamh Moloney
Publisher : Oxford University Press
Page : 993 pages
File Size : 46,9 Mb
Release : 2023-03-29
Category : Electronic
ISBN : 9780198844877

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EU Securities and Financial Markets Regulation by Niamh Moloney Pdf

Over the decade or so since the global financial crisis rocked EU financial markets and led to wide-ranging reforms, EU securities and financial markets regulation has continued to evolve. The legislative framework has been refined and administrative rulemaking has expanded. Alongside, the Capital Markets Union agenda has developed, the UK has left the EU, and ESMA has emerged as a decisive influence on EU financial markets governance. All these developments, as well as the Covid-19 pandemic, have shaped the regulatory landscape and how supervision is organized. EU Securities and Financial Markets Regulation provides a comprehensive, critical, and contextual account of the intricate rulebook that governs EU financial markets and its supporting institutional arrangements. It is framed by an assessment of how the regime has evolved over the decade or so since the global financial crisis and considers, among other matters, the post-crisis reforms to key legislative measures, the massive expansion of administrative rulemaking and of soft law, the Capital Markets Union agenda, the development of supervisory convergence as the means for organizing pan-EU supervision, and ESMA's role in EU financial markets governance. Its coverage extends from capital-raising and the Prospectus Regulation to financial market intermediation and the MiFID II/MiFIR and IFD/IFR regimes, to the new regulatory regimes adopted since the global financial crisis (including for benchmarks and their administrators), to retail market regulation and the PRIIPs Regulation, and on to the EU's third country regime and the implications of the UK's departure from the EU. This is the fourth edition of the highly successful and authoritative monograph first published as EC Securities Regulation. Heavily revised from the third edition to reflect developments since the global financial crisis, it adopts the in-depth contextual and analytical approach of earlier editions and so considers the market, political, institutional, and international context of the regulatory and supervisory regime.

Non-Judicial Remedies and EU Administration

Paola Chirulli,Luca De Lucia
Non Judicial Remedies and EU Administration Book PDF

Author : Paola Chirulli,Luca De Lucia
Publisher : Routledge
Page : 235 pages
File Size : 47,6 Mb
Release : 2021-03-11
Category : Law
ISBN : 9780429594403

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Non-Judicial Remedies and EU Administration by Paola Chirulli,Luca De Lucia Pdf

The increasing number of executive tasks assigned to EU institutions and agencies has resulted in a greater demand for justice that can no longer be satisfied by the courts alone. This has led to the development of a wide range of administrative remedies that have become a central part of the EU administrative justice system. This book examines the important theoretical and practical issues raised by this phenomenon. The work focuses on five administrative remedies: internal review; administrative appeals to the Commission against decisions of executive and decentralised agencies; independent administrative review of decisions of decentralised agencies; complaints to the EU Ombudsman; and complaints to the EU Data Protection Supervisor. The research rests on the idea that there is a complex, and at times ambivalent, relationship between administrative remedies and the varying degrees of autonomy of EU institutions and bodies, offices and agencies. The work draws on legislation, internal rules of executive bodies, administrative practices and specific case law, data and statistics. This empirical approach helps to unveil the true dynamics present within these procedures and demonstrates that whilst administrative remedies may improve the relationship between individuals and the EU administration, their interplay with administrative autonomy might lead to a risk of fragmentation and incoherence in the EU administrative justice system.

The Role of EU Agencies in the Eurozone and Migration Crisis

Johannes Pollak,Peter Slominski
The Role of EU Agencies in the Eurozone and Migration Crisis Book PDF

Author : Johannes Pollak,Peter Slominski
Publisher : Springer Nature
Page : 233 pages
File Size : 45,7 Mb
Release : 2020-11-30
Category : Political Science
ISBN : 9783030513832

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The Role of EU Agencies in the Eurozone and Migration Crisis by Johannes Pollak,Peter Slominski Pdf

This book provides a wealth of empirical material to understand key aspects of EU governance including its plurality of actors and policy making modes and its functioning during crisis management. Authored by legal scholars and political scientists, it presents new research and insights on the role of EU agencies in the context of the Euro and migration crises. Specifically, the contributions assess why the crises have led to the creation of new EU agencies and what roles these agencies have performed since their inception; how the crisis, notably the migration crisis, has impacted on existing EU agencies; how EU agencies have shaped the policies during and after the crises; and, how the crisis has affected the accountability of EU agencies. This book is essential in understanding the intricacies of EU crisis management and the specific role of EU agencies therein, as well as EU governance more broadly. Chapter 9 is available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.

European Union Agencies as Global Actors

Florin Coman-Kund
European Union Agencies as Global Actors Book PDF

Author : Florin Coman-Kund
Publisher : Routledge
Page : 281 pages
File Size : 47,7 Mb
Release : 2018-05-01
Category : Law
ISBN : 9781351136846

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European Union Agencies as Global Actors by Florin Coman-Kund Pdf

This book examines a largely unexplored dimension of the European agencies, namely their role in EU external relations and on the international plane. International cooperation has become a salient feature of EU agencies triggering important legal questions regarding the scope and limits of their international dimension, the nature and effects of their international cooperation instruments, their status within the EU and on the global level, and leading potentially to tensions between EU law and international law. This book fills the existing knowledge gap by scrutinizing the international cooperation legal framework and practice of EU agencies, including their mandate, tasks and instruments, together with their legal status as actors with a global dimension. It sets out a general legal-analytical framework which combines legal parameters from EU and international law to assess EU agencies as global actors, and examines in detail three case studies on carefully selected agencies to shed light on the complexities of EU agencies’ daily international cooperation.

Routes to a Resilient European Union

Antonina Bakardjieva Engelbrekt,Per Ekman,Anna Michalski,Lars Oxelheim
Routes to a Resilient European Union Book PDF

Author : Antonina Bakardjieva Engelbrekt,Per Ekman,Anna Michalski,Lars Oxelheim
Publisher : Springer Nature
Page : 267 pages
File Size : 46,5 Mb
Release : 2022-04-25
Category : Political Science
ISBN : 9783030931650

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Routes to a Resilient European Union by Antonina Bakardjieva Engelbrekt,Per Ekman,Anna Michalski,Lars Oxelheim Pdf

The fifth volume of the Interdisciplinary European Studies series aims to explore the EU’s pursuit of societal resilience and its role in the transition to a green economy. It brings together scholars from economics, law, and political science to provide insights related to climate change and the protection of the environment, the role of innovation in the green economy, resilience of national public health systems after the COVID-19 pandemic, regulatory resilience in the face of financial instability, and immigration. All chapters are based on up-to-date research, succinct assessment of the current state of affairs, and ongoing debates. They conclude with policy recommendations for decision-makers on European and national levels. Legal Preconditions for an Environmentally Sustainable European Union” is available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.

Delegation of Powers in the EU Legal System

Annalisa Volpato
Delegation of Powers in the EU Legal System Book PDF

Author : Annalisa Volpato
Publisher : Routledge
Page : 327 pages
File Size : 44,9 Mb
Release : 2022-03-29
Category : Law
ISBN : 9781000563467

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Delegation of Powers in the EU Legal System by Annalisa Volpato Pdf

The majority of rules adopted at the EU level are not issued by democratically elected institutions, but rather by administrative bodies which are empowered to exercise rule-making powers by legislative acts. This book analyses the legal mechanism through which these powers are conferred on the most relevant bodies in the EU institutional landscape, namely the European Commission, the Council, the ECB and EU agencies, and the democratic controls in place to limit and oversee the exercise of these powers. Providing an overarching perspective of the delegation of powers, this book reflects on the notion of delegation and on the commonalities between the different forms of delegation identified. It focuses on the legal requirements and limits for the delegating act, the procedures for the exercise of such powers, the position of the acts in the hierarchy of norms, and their judicial review. Overcoming the fragmentation which characterized the development of the different forms of delegation in the EU, this analysis provides a clear, structured, and coherent picture of the legal framework for the delegation of powers in the light of the constitutional principles of this legal system. Academics and practitioners will equally appreciate this highly accessible addition to the current debate in legal scholarship of the delegation of powers in the EU, as well as its explanations on comitology and the empowerment of EU agencies.