Overview

This comprehensive account of financial regulation and supervision in times of crisis analyses the complex changes under way regarding the new financial regulatory structures in the EU. Focusing on the organisation of financial supervision, it deals with the background to the reforms, the architecture of the regulatory system, the likely implications for the financial institutions and the challenge of international co-operation. Changes in the US have been heavily criticised and in Europe a brand new regulatory system with three new regulatory agencies and a systemic risk board has been developed. National systems are in the process of being updated. International cooperation, although still difficult, has made progress, with the Financial Stability Board now acting on behalf of the G.20. Central bank cooperation has improved significantly and in the meantime, sectoral regulations are being adapted in full speed, such as Basel III, AIDMD, MiFID and many others. This book gives an overall view of these complex changes.The first section of the book provides an assessment of the reforms and considers the background to their making. In the section on regulatory structure there is analysis of the new regulatory bodies, their complex competences and actions. The book also takes a critical look at their likely effectiveness. The final section of the work considers the actual implementation of the new rules in a cross-border context.

Full Product Details

Author:   Eddy Wymeersch (University of Gent - Belgium) ,  Klaus J. Hopt (Max Planck Institute for Comparative and International Private Law, Hamburg, Germany) ,  Guido Ferrarini (Professor of Business Law and Capital Markets Law, University of Genoa; Director of Genoa Centre for Law and Finance)
Publisher:   Oxford University Press
Imprint:   Oxford University Press
Dimensions:   Width: 19.00cm , Height: 3.30cm , Length: 24.90cm
Weight:   1.054kg
ISBN:  

9780199660902

ISBN 10:   0199660905
Pages:   528
Publication Date:   16 August 2012
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   To order  
Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us.

Table of Contents

Part I - Financial Reform as a Response to the 2008 crisis 1: J. Black: Restructuring Global and EU Financial Regulation: Character, Capacities and Learning 2: H. Davies: Unfinished Business: An Assessment of the Reforms 3: D. Green: The Relationship Between Micro-Macro-Prudential Supervision and Central Banking Part II - The New European Supervisory Architecture 4: N. Moloney: Supervision in the Wake of the Financial Crisis: Achieving Effective 'Law in Action' - A Challenge for the EU 5: E. Ferran: Understanding the New Institutional Architecture of EU Financial Market Supervision 6: C. Papathanassiou: A European Framework for Macro-Prudential Oversight 7: C.di Noia and M.C. Furlo: The New Structure of Financial Supervision in Europe - What's Next? 8: G. Ferrarini and F. Chiodini: Nationally Fragmented Supervision over Multinational Banks as a Source of Global Systemic Risk: A Critical Analysis of Recent EU Reforms 9: E. Wymeersch: The European Financial Supervisory Authorities or ESAs Part III - Regulation in Search for a Purpose 10: G. Hertig: Post-Financial Crisis Trading and Clearing Reforms in the EU: A Story of Interest Groups with Magnified Voice 11: K.J. Hopt: Corporate Governance of Banks After the Financial Crisis 12: J. Winter: The Financial Crisis: Does Good Corporate Governance Matter and How to Achieve it? Part IV - The International Dimension: New Challenges 13: A. Van Cauwenberge: Developments Regarding Global Cooperation in Supervision of Financial Markets 14: E. Hupkes: The Last Frontier: Protecting Critical Functions Across Borders 15: J. Cox: Extraterritorial Reach of US Financial Laws

Reviews

The book offers a collection of highly interesting and learned contributions on important changes in the EU regulatory framework ... This book can be highly recommended to everybody who is interested in the development of the financial regulatory system in the European Union after the 2008 crises, and it also offers noteworthy thoughts on future challenges and developments. MArkus Heidinger, Journal of Internatioal Banking Law and Regulation

Author Information

Eddy Wymeersch is professor at the University of Gent. He was Chairman of the Committee of European Securities regulators (CESR) (February 2007- July 2010) and of the European Regional Committee of IOSCO, in that capacity also taking part in the Executive and the Technical committee (2006-2010). He was Chairman of the Belgian Commission Bancaire, Financière et des Assurances (CBFA) (chief executive 2001-2007 and chairman of the supervisory board (2007-2010). He is now chairman of the Public Interest Oversight Board in Madrid. ; Professor Guido Ferrarini is Professor of Business Law and Capital Markets Law, University of Genoa and Director of Genoa Centre for Law and Finance.; Klaus J. Hopt is Professor of Law and Director (em.) at the Max Planck Institute for Comparative and International Private Law, Hamburg, Germany

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