European Financial Regulation: Levelling the Cross-Sectoral Playing Field

Author: Veerle Colaert; Danny Busch; Thomas Incalza
Publisher: Hart Publishing
ISBN: 9781509926459

Published In: December 2019
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only
Paperback Edition ISBN: 9781509952793

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Description
Contents

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Financial regulation as we know it today mirrors the traditional structure of the financial industry. In most legal systems, it is thus divided into banking, insurance and investment services regulation. In recent decades however, the clear separation between financial sectors has gradually evaporated, as business lines have converged across sectors and FinTech solutions have emerged which do not fit traditional sector boundaries.

As the contours of the traditional tripartition in the financial industry faded, the diverging regulatory and supervisory treatment of these sectors has become increasingly at odds with economic reality.

This collection of essays analyses the main areas of EU financial regulation from a cross-sectoral perspective. For each specific theme, similarities as well as gaps, overlaps and unjustifiable differences between banking, securities and insurance regulation are charted. This novel approach offers insight into the regulatory answers to similar problems across sectors, making it easier to streamline compliance processes and providing a solid basis for a set of normative conclusions on the way forward for EU financial regulation.

PART I: CONCEPTUAL FRAMEWORK

1. Regulating Finance in a Post-Sectoral World: Setting the Scene - Veerle Colaert and Danny Busch

2. Functioning of the Financial Industry - Monika Marcinkowska

3. Objectives of Financial Regulation and their Implementation in the European Union - Eddy Wymeersch

4. FinTech Regulation from a Cross-Sectoral Perspective - Eugenia Macchiavello

5. A Cross-Sectoral Approach to Regulation and a Twin Peaks System of Supervision: The Netherlands - Kitty Lieverse and Victor de Serière

PART II: STABILITY OF THE FINANCIAL SYSTEM

6. Regulating Systemic Risk: A Cross-Sectoral Approach - Danny Busch and Mirik van Rijn

7. A Cross-Sectoral Analysis of Micro-Prudential Regulation - Arthur van den Hurk and Bart Joosen

8. Corporate Governance:

8A. A Cross-Sectoral Analysis of Corporate Governance Provisions: About Forests and Trees - Tom Vos, Katrien Morbee, Sofi e Cools and Marieke Wyckaert

8B. A Cross-Sectoral Analysis of Remuneration Policy Provisions - Guido Ferrarini and Michele Siri

8C. Ownership Allocation and Stakeholder Representation in Financial Institutions - Carmine Di Noia and Matteo Gargantini

9. Resolution Regimes in the Financial Sector: In Need of Cross-Sectoral Regulation? - Jens-Hinrich Binder

10. Is there a Case for One Cross-Sectoral Compensation Scheme? - Veerle Colaert and Gilian Bens

11. The Cross-Sectoral Playing Field in Outsourcing - Peter Laaper

PART III: CONSUMER PROTECTION

12. Scope of Protection: Is there a Ground for a Single Criterion? - Marc-David Weinberger

13. Product Information for Banking, Investment and Insurance Products - Veerle Colaert

14. Service Quality (Conduct of Business) Rules

14A. Is there a Case for a Cross-Sectoral Duty of Care for the Financial Sector? - Veerle Colaert and Maarten Peeters

14B. An 'Assist-Your-Customer Obligation' for the Financial Sector? - Danny Busch, Veerle Colaert and Geneviève Helleringer

15. Conflicts of Interest and Inducements in the Financial Sector - Veerle Colaert and Th omas Incalza

16. Product Intervention: A Cross-Sectoral Analysis - Veerle Colaert

PART IV: SUPERVISION AND INTERNAL MARKET

17. A Holistic Approach to the Institutional Architecture of Financial Supervision and Regulation in the EU - Wolf-Georg Ringe, Luis Morais and David Ramos

18. What Happens when an EU Financial Institution Crosses Borders? Time for Consistency? - Emanuel van Praag

PART V: SUMMARY AND CONCLUSIONS

19. Summary and Conclusions - Veerle Colaert and Danny Busch