Brexit And Financial Regulation
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Brexit And Financial Regulation
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Author : Jonathan Herbst
language : en
Publisher: Oxford University Press, USA
Release Date : 2020
Brexit And Financial Regulation written by Jonathan Herbst and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Law categories.
Brexit will have a significant impact on the UK financial services system. This book provides guidance on the complexity of Brexit as it applies to financial institutions through the eyes of leading lawyers. It covers issues of market access, transposition of directly applicable regulation,the assumption of roles carried out by the European Supervisory Authorities ("ESA"), and the impact on cross-border contracts. Brexit and Financial Regulation navigates the future of the EU and UK's approach to bank and investment firm authorisation, the EU concept of equivalence and changes to keypieces of EU legislation. It identifies which pieces of EU legislation contain equivalence provisions and describes the equivalence process. It considers issues relating to characteristic performance, dealing with the test of where services are actually carried out in the EU.The book addresses communications from the EU institutions on the approach to be taken regarding the authorisation of banks and investment firms in the EU27. Of particular importance is consideration of the opinions issued in 2017 by the European Banking Authority and the European Securities andMarkets Authority. This analysis also includes a review of the approach taken by key EU27 jurisdictions such as Germany, France, and the Netherlands.Crucially, the work considers the position of HM Treasury, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) in taking on the roles of the ESAs, and how highly technical and detailed EU regulatory technical standards and ESA guidance will be transposed into the PRARulebook and FCA Handbook. It covers the European Union (Withdrawal) Act 2018 and relevant changes to financial services legislation. The Overseas Persons Exclusion contained in the Regulated Activities Order is also discussed.The book also examines the role of international regulatory bodies and international standards. These international standards and agreements have been implemented in EU legislation such as the Capital Requirements Directive IV and the Capital Requirements Regulation. The development of internationalregulation and the UK's influence on it are important components in the post Brexit landscape. Breaking Brexit issues into accessible, structured chapters, leading practitioners from across the City of London unpack legal complexities, sharing a wealth of experience. This is a timely and invaluablework for all those advising or dealing with financial institutions in the UK and the EU.
The Uk And Multi Level Financial Regulation
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Author : Scott James
language : en
Publisher: Oxford University Press
Release Date : 2020-02-06
The Uk And Multi Level Financial Regulation written by Scott James and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-06 with Political Science categories.
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.
Brexit And Financial Services
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Author : Kern Alexander
language : en
Publisher: Bloomsbury Publishing
Release Date : 2018-01-11
Brexit And Financial Services written by Kern Alexander and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-11 with Law categories.
This timely book examines the legal and regulatory implications of Brexit for financial services. The UK's withdrawal from the EU is likely to have significant market, political, and policy consequences for the UK financial system, for the single market and the euro area, and for the international financial system. As the UK disentangles its financial system from the EU, law will matter to a profound extent. Treaties, legislation, and regulation, at UK, EU, and international levels, and the many dynamics and interests which drive them, will frame and shape the ultimate settlement between the UK and the EU. Law will also shape how the EU financial system develops post-Brexit and how the international financial system responds. Written by leading authorities in the field, this book addresses and contextualises the legal, regulatory, and policy issues across five dimensions, which correspond to the major legal spheres engaged: financial regulation implications and market access consequences for the UK financial system; labour law and free movement consequences for the UK financial system; the implications internally for EU financial governance and the euro area; the implications and relevance of the EEA/EFTA financial services market; and the trade law and World Trade Organization law implications.
Financial Markets Dis Integration In A Post Brexit Eu
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Author : Dieter Pesendorfer
language : en
Publisher: Springer Nature
Release Date : 2020-01-11
Financial Markets Dis Integration In A Post Brexit Eu written by Dieter Pesendorfer and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-11 with Political Science categories.
The European Union is creating a Financial Union with a European Banking Union and a Capital Markets Union in reaction to lessons learned from incomplete financial markets integration, the Global Financial Crisis and European Sovereign Debt Crisis. This book critically analyses these projects for a more integrated, resilient and sustainable financial system at a time when the United Kingdom as the member state with the most developed capital markets and the leading global and European financial center, the City of London, is leaving the Union. Neoliberal financial globalization and markets integration policies have led to finance-led capitalism that caused the crises. By building on pre-crises integration ideas, the Union revives and expands the reach of capital markets-based financing and shadow banking. The book discusses the consequences of deeper integration and the future of European financial centers advocating an alternative financial markets integration based on theories explaining finacialization and finance-led capitalism.
Banking Law And Financial Regulation In The Uk And Eu
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Author : Pierre de Gioia Carabellese
language : en
Publisher: Taylor & Francis
Release Date : 2024-06-28
Banking Law And Financial Regulation In The Uk And Eu written by Pierre de Gioia Carabellese and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-06-28 with Law categories.
Banking Law and Financial Regulation in the UK and EU seeks to blend orthodox topics covered within the banking and financial law syllabus, such as sources of banking and financial law, financial markets, financial and banking institutions, financial transactions, and banking and financial insolvency, with a careful analysis of emerging issues and more contemporary topics. This advanced-level textbook offers a new format for the study of banking and financial law, placing it within the wider context of economic development. As such, two elements are integral to this new methodology: the rise of techno-banking and digitalisation of the financial sector, and Brexit. Departing from the approaches of more traditional textbooks in this area, the book also takes a comparative approach to UK and EU banking law, highlighting the legal consequences of the UK’s exit from the EU. Aspects of human rights are integrated throughout and current debates and developments around financial crises – the advancement of technological innovations in the banking sector and contemporary topics, such as health crises, energy, and ESG and the environment – is taken into account to provide the reader with the opportunity to develop their own autonomous and broader understanding of the various concepts. Banking Law and Financial Regulation in the UK and EU will be a valuable text for students taking advanced undergraduate and postgraduate-level courses in banking law and financial law, as well as practising lawyers, managers and accountants.
International Financial Centres After The Global Financial Crisis And Brexit
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Author : Youssef Cassis
language : en
Publisher: Oxford University Press
Release Date : 2018-06-26
International Financial Centres After The Global Financial Crisis And Brexit written by Youssef Cassis and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-26 with Business & Economics categories.
As well as marking the tenth anniversary of the collapse of Lehman Brothers and the consequent unleashing of the global financial crisis, 2018 is also the year of negotiations on the terms of the UK's exit from the European Union. Within a decade the banking world has witnessed two epochal events with potential to redraw the map of international financial centres: but how much has this map actually changed since 2008, and how is it likely to change in the near future? International Financial Centres after the Global Financial Crisis and Brexit gathers together leading economic historians, geographers, and other social scientists to focus on the post-2008 developments in key international financial centres. It focuses on the shifting hierarchies of New York, London, Paris, Geneva, Zurich, Frankfurt, Singapore, Hong Kong, Beijing, Shanghai, and Tokyo to question whether Asian financial centres have taken advantage of the crisis in the West. It also examines the medium-effects of the crisis, the level of regulation, and the rise of new technology (fintech). By exploring these crucial changes, it questions whether shifts in the financial industry and the global landscape will render these centres unnecessary for the functioning of the global economy, and which cities are likely to emerge as hubs of new financial technology.
Principles Of Banking Regulation
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Author : Kern Alexander
language : en
Publisher: Cambridge University Press
Release Date : 2019-06-06
Principles Of Banking Regulation written by Kern Alexander and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-06 with Business & Economics categories.
Analyses banking regulation and recent international developments, including Basel IV, bank resolution and Brexit, and their impact on bank governance.
Financial Intermediation In The New Europe
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Author : Donato Masciandaro
language : en
Publisher: Edward Elgar Publishing
Release Date : 2004
Financial Intermediation In The New Europe written by Donato Masciandaro and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Banks and banking categories.
What role will the current evolution of banking systems play in the newly adopted EU countries during the historic challenges following enlargement? This book, a blend of economics and political economy, offers a systematic analysis of the current trends in financial intermediation in the countries of the newly enlarged Europe, with particular focus on those policies taken by foreign banks on the one hand, and by regulatory and supervisory authorities on the other. The authors argue that their research has led to one conclusion; in order to enter the EU, the accession countries needed to increase the efficiency of their economic systems rapidly through liberalization and privatization. The book assesses whether the presence of foreign banks will contribute to long term economic growth and financial stability, and how the architecture of banking regulations and supervision should be designed. As a multidisciplinary work, though principally economics, the book will appeal to scholars and academics of politics and law. It also has particular relevance for regulators and supervisory institutions, as well as professionals including bankers, financial operators and also legal compliance officers.
Banking Law
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Author : Andreas Kokkinis
language : en
Publisher: Routledge
Release Date : 2021-03-16
Banking Law written by Andreas Kokkinis and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-16 with Business & Economics categories.
Banking regulation and the private law governing the bank-customer relationship came under the spotlight as a result of the global financial crisis of 2007–2009. More than a decade later UK, EU and international regulatory initiatives have transformed the structure, business practices, financing models and governance of the banking sector. This authoritative text offers an in-depth analysis of modern banking law and regulation, while providing an assessment of its effectiveness and normative underpinnings. Its main focus is on UK law and practice, but where necessary it delves into EU law and institutions, such as the European Banking Union and supervisory role of the European Central Bank. The book also covers the regulation of bank corporate governance and executive remuneration, the promises and perils of FinTech and RegTech, and the impact of Brexit on UK financial services. Although detailed, the text remains easy to read and reasonably short; pedagogic features such as a glossary of terms and practice questions for each chapter are intended to facilitate learning. It is a useful resource for students and scholars of banking law and regulation, as well as for regulators and other professionals who are interested in reading a precise and evaluative account of this evolving area of law.
Digitalisation Sustainability And The Banking And Capital Markets Union
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Author : Lukas Böffel
language : en
Publisher: Springer Nature
Release Date : 2022-12-30
Digitalisation Sustainability And The Banking And Capital Markets Union written by Lukas Böffel and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-12-30 with Business & Economics categories.
This book covers three topics that have dominated financial market regulation and supervision debates: digital finance, sustainable finance, and the Banking and Capital Markets Union. Within the first part, seven chapters will tackle specific questions arising in digital finance, including but not limited to artificial intelligence, tokenisation, and international regulatory cooperation in digital financial services. The second part addresses one of humanity’s most pressing issues today: the climate crisis. The quest for sustainable finance is driven by political actors and a common understanding that climate change is a severe threat. As financial institutions are a cornerstone of human interaction, they are in the regulatory spotlight. The chapters explore sustainability in EU banking and insurance regulation, the interrelationship between systemic risk and sustainability, and the ‘greening’ of EU monetary policy. The third part analyses two projects that have led to huge structural changes in the European financial market architecture over the last decade: the European Banking Union and Capital Markets Union. This transformation has raised numerous legal questions that can only gradually be answered in all their intricacies. In four chapters, this book examines composite procedures, property rights of depositors in banking resolution, preemptive financing arrangements and the phenomenon of subsidiarisation in the context of Brexit. Of interest to academics, policymakers, practitioners, and students in the field of EU financial regulation, banking law, securities law, and regulatory law, this book offers a compilation of analyses on pressing banking and capital markets law problems.