The Age of ESMA: Governing EU Financial Markets

Banking / Finance

The Age of ESMA: Governing EU Financial Markets

By Niamh Moloney
Clearance November 2018

Specifications

ISBN-13
9781509921775
Publisher
Clearance
Publication
November 2018
Format
Hardback
Jurisdiction
U.K. ? Countri(es) for reference only

Details

Since its inception in 2011, the European Securities and Markets Authority (ESMA) has established itself as a central actor in EU financial market regulation and supervision.

Its burgeoning influence extends from rule-making to supervisory convergence/coordination to direct supervision and it has become a pivotal actor in the development of EU financial market governance.

Reflecting the now critical importance of ESMA to how the EU regulates and supervises financial markets, and with ESMA at an inflection point in terms of the development of its powers, The Age of ESMA maps, contextualises and examines ESMA's role and considers how and the extent to which it is shaping EU financial market governance.

Drawing on empirical evidence and on a multi-faceted scholarship, the book probes ESMA's approach to its powers and considers whether reforms are necessary, including in light of the Commission's 2017 proposals to reform ESMA and the UK's withdrawal from the EU.

Table of Contents

1. Introducing ESMA
I. Introduction: Examining ESMA through an Institutional Lens
II. Characterising ESMA: ESMA’s Setting and its Role
III. Contextualising ESMA
IV. Technocratic Influence, Effectiveness, and Legitimacy
V. Roadmap
2. ESMA’s Governance
I. Assessing ESMA and its Governance Arrangements
II. Examining ESMA’s Governance Arrangements
III. Contextualising ESMA’s Governance Arrangements: Influence, Effectiveness, and Legitimacy
IV. ESMA’s Institutional Design
V. ESMA’s External Governance Arrangements
VI. ESMA’s Funding Arrangements
VII. Conclusion
3. ESMA and Regulatory Governance
I. Assessing ESMA and the Regulatory Governance Setting
II. Examining ESMA’s Role in Regulatory Governance
III. Contextualising ESMA’s Role: Influence, Effectiveness, and Legitimacy
IV. Building the Single Rule-book: ESMA as Architect of EU Administrative Financial Market Regulation
V. Building the Soft Law Rule-book: ESMA as the Designer and Custodian of EU Financial Market Soft Law
VI. The Legislative Process: Shaping Regulatory Governance from the Bottom Up
VII. Conclusion
4. ESMA and Supervisory Convergence
I. Assessing ESMA and the Supervisory Convergence Setting
II. Examining ESMA’s Role in Supervisory Convergence
III. Contextualising ESMA’s Role: Influence, Effectiveness, and Legitimacy
IV. Supervisory Convergence in Practice
V. Conclusion
5. ESMA and Direct Supervision/Market Intervention
I. Assessing ESMA and the Direct Supervision/Market Intervention Setting
II. Examining ESMA’s Role as a Direct Supervisor
III. Contextualising ESMA’s Role: Influence, Effectiveness, and Legitimacy
IV. Direct Supervision in Practice: Rating Agencies and Trade Repositories
V. NCA-Oriented Supervision: Breach of EU Law, Binding Mediation, and Emergency Conditions
VI. Exceptional Intervention: Short Selling, Product/Services Intervention, and Intervention in the Commodity
Derivatives Market
VII. Th e 2017/2018 Reform Waypoint (1): CCP Supervision and the ‘European Supervisory Mechanism’
VIII. Th e 2017/2018 Reform Waypoint (2): Th e 2017 ESA Proposal
IX. And the Direction of Travel Continues: Th e 2018 Crowdfunding Proposal
X. Conclusion
6. ESMA as a Network Actor
I. ESMA as a Network Actor
II. ESMA and the EU Financial Governance Network
III. ESMA and the International Financial Market Governance Network
IV. Conclusion
HKD 1,330.00

Inclusive of HK delivery

Ready to ship
Delivery Time: around 4-5 weeks
Extra 10 working days if shipping address outside Hong Kong
  • Free HK shipping over HK$1,000
  • International shipping to 35+ countries
Order Form
Save

Recommended

You may also be interested in these books:

More titles from Banking / Finance

View all
Corporate Finance for Lawyers: Understanding the Power Balance Between Shareholders, Secured Lenders and Unsecured Creditors
Edward Elgar Publishing

Corporate Finance for Lawyers: Understanding the Power Balance Between Shareholders, Secured Lenders and Unsecured Creditors

Rolef de Weijs; Joost de Vries; Aart Jonkers
HKD 1,626.69
The Law of International Financial Institutions
Oxford University Press

The Law of International Financial Institutions

Daniel D. Bradlow
HKD 1,059.24
Regulating Credit Rating Agencies
Edward Elgar Publishing

Regulating Credit Rating Agencies

Aline Darbellay
HKD 1,374.49
Money Law, Capital, and the Changing Identity of the European Union
Hart Publishing

Money Law, Capital, and the Changing Identity of the European Union

Gabriella Gimigliano; Valentino Cattelan
HKD 1,261.00
Shadow Banking in China: Risk, Regulation and Policy
Edward Elgar Publishing

Shadow Banking in China: Risk, Regulation and Policy

Shen Wei
HKD 1,941.94
Financial Technology and the Law: Combating Financial Crime
Springer-Verlag

Financial Technology and the Law: Combating Financial Crime

Doron Goldbarsht; Louis de Koker
HKD 1,595.87