EU-US Coalition on Financial Regulation PDF Download

Author: ABA Securities Association
Publisher:
ISBN:
Category : Consumer protection
Languages : en
Pages :

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Author: Peter O'Shea
Publisher:
ISBN: 9783030748562
Category :
Languages : en
Pages : 0

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Book Description
This book examines cooperation between the US and the EU on financial regulatory reform, notably at the outset and the first three years of the global financial crisis. It discusses the development of US-EU cooperation on financial regulation over the last few decades at several levels, including at heads of state level, markets regulator level and at international level, and progresses with a detailed examination of cooperation at the outset of the financial crisis. It looks at the nature of and motivation for intense US-EU cooperation on coordinating a response to the crisis and presents a compelling argument that a defacto alliance was formed, which served to benefit respective US and EU interests domestically and in the international financial system. Providing a new perspective on financial regulatory reform after the last financial crisis and the relationship of regulatory outcomes to international financial governance, this volume will be of use to researchers interested in transatlantic relations, financial regulation, international relations, global governance, and the European Union, as well as professionals and policymakers working in foreign relations, financial markets, or banking policy.

Author: Peter O'Shea
Publisher: Springer Nature
ISBN: 3030748553
Category : Political Science
Languages : en
Pages : 283

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Book Description
This book examines cooperation between the US and the EU on financial regulatory reform, notably at the outset and the first three years of the global financial crisis. It discusses the development of US-EU cooperation on financial regulation over the last few decades at several levels, including at heads of state level, markets regulator level and at international level, and progresses with a detailed examination of cooperation at the outset of the financial crisis. It looks at the nature of and motivation for intense US-EU cooperation on coordinating a response to the crisis and presents a compelling argument that a defacto alliance was formed, which served to benefit respective US and EU interests domestically and in the international financial system. Providing a new perspective on financial regulatory reform after the last financial crisis and the relationship of regulatory outcomes to international financial governance, this volume will be of use to researchers interested in transatlantic relations, financial regulation, international relations, global governance, and the European Union, as well as professionals and policymakers working in foreign relations, financial markets, or banking policy.

Author: Kern Alexander
Publisher: Edward Elgar Publishing
ISBN: 0857930451
Category : Law
Languages : en
Pages : 469

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The globalisation of financial markets has attracted much academic and policymaking commentary in recent years, especially with the growing number of banking and financial crises and the current credit crisis that has threatened the stability of the global financial system. This major new Research Handbook sets out to address some of the fundamental issues in financial regulation from a comparative and international perspective and to identify some of the main research themes and approaches that combine economic, legal and institutional analysis of financial markets. Specially commissioned contributions represent diverse viewpoints on the financial regulation debate and cover a number of new and controversial topics not yet adequately addressed in the literature. Specifically, these include; financial innovation particularly in the context of the credit risk transfer market, securitization and the systemic importance of the over-the-counter trading markets; the institutional structure of international financial regulation; and risk management and corporate governance of financial institutions. This Handbook will provide a unique and fully up-to-date resource for all those with an interest in this critical issue including academic researchers in finance and regulation, practitioners working in the industry and those involved with regulation and policy.

Author: Rainer Kattel
Publisher: Routledge
ISBN: 1317428846
Category : Business & Economics
Languages : en
Pages : 343

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This collection offers a comparative overview of how financial regulations have evolved in various European countries since the introduction of the single European market in 1986. It includes a number of country studies which provides a narrative of the domestic financial regulatory structure at the beginning of the period, as well the means by which the EU Directives have been introduced into domestic legislation and the impact on the financial structure of the economy. In particular, studies highlight how the discretion allowed by the Directives has been used to meet the then existing domestic conditions and financial structure as well as how they have modified that structure. Countries covered are France, Germany, Italy, Spain, Estonia, Hungary and Slovenia. The book also contains an overview of regulatory changes in the UK and Nordic countries, and in post-crisis USA. This comparative approach raises questions about whether past and more recent regulatory changes have in fact contributed to increase financial stability in the EU. The comparative analysis provided in this book raises questions on whether the past and more recent changes are contributing to increase the financial stability and efficiency of individual banks and national financial systems. The crisis has demonstrated the drawbacks of formulating the regulatory framework on standards borrowed from the best industry practices from the large developed countries, originally designed exclusively for large global banks, but now applied to all financial institutions.

Author: Elaine Fahey
Publisher: Springer
ISBN: 3319502212
Category : Law
Languages : en
Pages : 266

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This volume collects papers that explore institutionalisation in contemporary transatlantic relations. Policymakers, lawyers, and political scientists reflect on contemporary understandings of the process as an integration of regimes and orders from an EU perspective. The papers assess whether contemporary transatlantic relations call for a different approach to global governance with a heightened emphasis on institutionalisation. The book explores a diverse range of case studies of interest to a broad readership. In particular, it focuses upon two cutting-edge issues: transatlantic data privacy rules that are emerging after the post-Edward Snowdon / NSA / PRISM revelations; and trade aspects, especially the Transatlantic Trade and Investment Partnership (TTIP) Agreement. The contributors consider these case studies from a variety of perspectives, honing in on the dynamism, method, and high politics of transatlantic relations as they have recently evolved. They critically explore the commonly held assumption that transatlantic relations have historically been considered quasi-institutionalised at best or, at worst, lacking in terms of laws and institutions. Is institutionalisation a useful meeting point for all disciplines? Does it explain regional integration meaningfully across subjects? Can institutionalisation serve to promote accountability and good governance? Contributors across disciplines and subjects address these increasingly challenging and salient questions.

Author: Lisa Kastner
Publisher: Routledge
ISBN: 1351798138
Category : Political Science
Languages : en
Pages : 151

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Coalitions of consumer groups, NGOs, and trade unions have traditionally been considered politically weak compared to well-organized and resourceful financial sector groups which dominate or "capture" financial regulatory decisions. However, following the 2008 financial crisis, civil society groups have been seen to exert much more influence, with politicians successfully implementing financial reform in spite of industry opposition. Drawing on literature from social movement research and regulatory politics, this book shows how diffuse interests were represented in financial regulatory overhauls in both the United States (US) and the European Union (EU). Four cases of reform in the post-crisis regulatory context are analyzed: the creation of a new Consumer Financial Protection Bureau in the US; the introduction of new consumer protection regulations through EU directives; the failure of attempts to introduce a financial transaction tax in the US; and the agreement of 11 EU member states to introduce such a tax. It shows how building coalitions with important elite allies outside and inside government helped traditionally weak interest groups transcend a lack of material resources to influence and shape regulatory policy. By engaging with a less well-known side of the debate, it explains how business power was curbed and diverse interests translated into financial regulatory policy.

Author: Laurie Buonanno
Publisher: Routledge
ISBN: 113626647X
Category : Political Science
Languages : en
Pages : 365

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The European Union and the US are currently negotiating the Transatlantic Trade and Investment Partnership (TTIP), with potentially enormous economic gains for both partners. Experts from the European Union and the US explore not only the groundwork laid for TTIP under the "New Transatlanticism," but also the key variables – economic, cultural, institutional, and political – shaping transatlantic policy outcomes. Divided into four parts, Part I, consisting of three chapters, contextualizes the transatlantic relationship with an historical survey, contemporary foreign relations and policy, and cultural dynamics. Together, these chapters provide the background for understanding the evolving nature of the EU–US relationship. Part II of this volume focuses on governance and comprises two chapters – one on transatlantic governance and the other administrative culture. Part III consists of six policy chapters: competition, trade, transport, mobility regimes, financial services regulation, and GMOs. Part IV, consisting of three chapters, explores prospects and challenges associated with transatlanticism, including the TTIP. The last chapter concludes with lessons learned and future challenges with respect to policy convergence; the nature of the EU–US relationship; power, resources, and bargaining within the transatlantic partnership; and, an assessment of the future of deeper cooperation and integration. This insightful account into policy cooperation between the EU and the US is a welcomed resource for policy specialists oriented toward comparative public policy wishing to enter the arena of Transatlantic Studies.

Author: Lucia Quaglia
Publisher: OUP Oxford
ISBN: 0191512532
Category : Political Science
Languages : en
Pages : 241

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Book Description
The European Union and Global Financial Regulation examines the influence of the European Union (EU) in regulating global finance, addressing several inter-related questions. Why does the EU 'upload' international financial regulation in some cases, 'download' it in other cases, and 'cross-load' either actively or passively in other instances? Has this changed over time, especially after the third stage of Economic and Monetary Union and the completion of the single financial market, or after the global financial crisis? Under what conditions is the EU more or less likely to upload, download or cross load rules? Through which mechanisms does this take place? Overall, does the EU act as a pace setter in regulating global finance, or is it mainly a follower? Why? The key explanatory variable used in this research is the concept of 'regulatory capacity', applied to the EU and the US, distinguishing between 'strong' and 'weak' regulatory capacity. The influence of the EU in global financial regulation depends on the combinations of EU and US regulatory capacities. When EU regulatory capacity is weak and US regulatory capacity is strong, the US will mainly upload its domestic rules internationally and/or actively cross load them to the EU, whereas the EU will mainly download international rules. When the EU regulatory capacity is strong and US regulatory capacity is weak, the EU is able to upload its rules internationally and/or actively cross load them to third countries. When the EU and the US regulatory capacities are weak, private sector governance prevails. When the EU and US regulatory capacities are strong, both jurisdictions seek to upload and cross load their domestic rules.

Author: Vitor Gaspar
Publisher:
ISBN: 9789291813483
Category : Banks and banking
Languages : en
Pages : 334

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