scholarly journals Problems and Prospects for the Development of the UK Banking System in the Process of New Industrialization and Digitalization

2021 ◽  
Vol 93 ◽  
pp. 05017
Author(s):  
Olga Sokolova ◽  
Nadezhda Goncharova ◽  
Pavel Letov
Keyword(s):  
Capital Market ◽  
Global Financial Crisis ◽  
Banking System ◽  
The European Union ◽  
Important Trend ◽  
The Subject ◽  
The Global Financial Crisis ◽  
The Uk ◽  
High Degree ◽  
New Industrialization

The gist of this article boils down to the development of British banking system in the conditions of new industrialization and digitalization. The banking system of Great Britain is characterized by a high degree of concentration and specialization of banking, a well-developed banking infrastructure, and a close connection with the international loan capital market. London is the world's oldest financial center. The English banking system has the world's widest network of overseas branches. The UK banking system is relatively independent from the credit systems of the European Union. Nevertheless, banking legislation is focused on the unification of banking law within the European Community and supervision of banking activities. In the context of the global financial crisis, the UK banking system, as in other countries, has been severely tested. The most important trend in the development of the UK banking system is the blurring of boundaries between certain types of credit institutions. The subject of the research is the UK banking system in the context of new industrialization and digitalization.

scholarly journals Electoral Shocks

2019 ◽  
Author(s):  
Edward Fieldhouse ◽  
Jane Green ◽  
Geoffrey Evans ◽  
Jonathan Mellon ◽  
Christopher Prosser ◽  
...  
Keyword(s):  
Global Financial Crisis ◽  
The European Union ◽  
Electoral Volatility ◽  
Liberal Democrats ◽  
Scottish National Party ◽  
Electoral Choice ◽  
General Elections ◽  
Scottish Independence ◽  
The Global Financial Crisis ◽  
The Uk

This book offers a novel perspective on British elections, focusing on the importance of increasing electoral volatility in British elections, and the role of electoral shocks in the context of increasing volatility. It demonstrates how shocks have contributed to the level of electoral volatility, and also which parties have benefited from the ensuing volatility. It follows in the tradition of British Election Study books, providing a comprehensive account of specific election outcomes—the General Elections of 2015 and 2017—and a more general approach to understanding electoral change.We examine five electoral shocks that affected the elections of 2015 and 2017: the rise in EU immigration after 2004, particularly from Eastern Europe; the Global Financial Crisis prior to 2010; the coalition government of the Conservatives and the Liberal Democrats between 2010 and 2015; the Scottish Independence Referendum in 2014; and the European Union Referendum in 2016.Our focus on electoral shocks offers an overarching explanation for the volatility in British elections, alongside the long-term trends that have led us to this point. It offers a way to understand the rise and fall of the UK Independence Party (UKIP), Labour’s disappointing 2015 performance and its later unexpected gains, the collapse in support for the Liberal Democrats, the dramatic gains of the Scottish National Party (SNP) in 2015, and the continuing period of tumultuous politics that has followed the EU Referendum and the General Election of 2017. It provides a new way of understanding electoral choice in Britain, and beyond, and a better understanding of the outcomes of recent elections.

15 Litigation and Enforcement involving Private Funds after the Global Financial Crisis

2018 ◽  
Author(s):  
Spangler Timothy
Keyword(s):  
Financial Crisis ◽  
Hedge Funds ◽  
Global Financial Crisis ◽  
Private Investment ◽  
The United States ◽  
Regulatory Regime ◽  
Investment Funds ◽  
The Subject ◽  
The Global Financial Crisis ◽  
The Uk

This chapter focuses on the increase in the amount of litigation and enforcement actions against private investment funds in the United States, the UK, and across the globe as a result of the global financial crisis. As more disputes arose during the course of the global financial crisis, the legal and regulatory regime impacting private investment funds has been the subject of closer scrutiny than has been seen in previous decades. The chapter first considers the Securities and Exchange Commission’s (SEC) enforcement actions against hedge funds as well as U.S. civil litigation prior to the financial crisis before discussing Dodd-Frank and its effect on enforcement. It then examines the SEC’s enforcement actions regarding broker-dealer registration, along with some of its key enforcement actions after Dodd-Frank. It also analyses the Financial Conduct Authority’s enforcement priorities after the global financial crisis and key litigation in the UK involving private investment funds.

scholarly journals Capital Market Union and residential capitalism in Europe: Rescaling the housing-centred model of financialization

2017 ◽  
Vol 3 (1) ◽  
pp. 32-50 ◽  
Author(s):  
Rodrigo Fernandez ◽  
Manuel B. Aalbers
Keyword(s):  
European Commission ◽  
Capital Market ◽  
Global Financial Crisis ◽  
Housing Finance ◽  
The Political ◽  
Mortgage Debt ◽  
Mortgage Securitization ◽  
The Global Financial Crisis ◽  
The Uk ◽  
The Eu

This article examines the effects of implementing the proposals of the European Commission to institute a Capital Market Union (CMU) on the diverse landscape of residential capitalism in Europe. The CMU will bypass existing national institutional blockades that left core countries of the Eurozone, namely Germany, France and Italy, largely untouched by the housing-centred model of financialization that developed in countries like Spain, Ireland, the UK and the Netherlands. It is widely acknowledged that the rise in securitized mortgage debt contributed to the global financial crisis. As part of the CMU, the new European Commission is promoting mortgage securitization throughout the EU and thereby rescaling the political economy of housing finance that was hitherto rooted in national, institutional models. We argue that countries which ‘missed’ the previous housing boom will not be able to prevent future housing-centred financialization. CMU thus signifies a spatial expansion of the debt-led accumulation model.

scholarly journals REGULATORY SCOPE OF SIX PACK IN EUROPEAN MONETARY LAW

TEME ◽  
2019 ◽  
pp. 617
Author(s):  
Marko B. Dimitrijevic
Keyword(s):  
Global Financial Crisis ◽  
Active Role ◽  
The European Union ◽  
European Monetary ◽  
Member States ◽  
European Court ◽  
The Subject ◽  
Legal Security ◽  
The Global Financial Crisis ◽  
Monetary Order

The subject of the analysis in this paper is the analysis and assessment of the regulatory reach of the Six Pack in the monetary law of the European Union. In this respect, the emphasis of the research is on issues related to the need of coordination of the concepts of economic policy of the Member States at the supranational level as a prerequisite for the effective European monetary law and functions and tasks established by the European Semester as the new institutional mechanism of coordination created in the conditions of the global financial crisis. In the further text, the focus of research is on the objectives of the regulations and directive within the Six Pack, which have made the most serious changes to the monetary laws of the Member States and established new competencies of the European Commission and the European Court of Justice in the field of monetary stability, where the general conclusion is the need for their active role in applying the concept of a European semester in order to preserve legal security and ensure the acquest of the international monetary order.

scholarly journals The World Financial Crisis and The Polish Economy

2019 ◽  
Vol 19(34) (1) ◽  
pp. 5-21
Author(s):  
Mieczysław Adamowicz ◽  
Tomasz Adamowicz
Keyword(s):  
Financial Crisis ◽  
Financial Institutions ◽  
Global Financial Crisis ◽  
Developed Countries ◽  
Financial Policy ◽  
The European Union ◽  
The World ◽  
The Subject ◽  
Polish Economy ◽  
The Global Financial Crisis

The subject of the work is to provide an overview of the global financial crisis in the years 2007-2011; its course, symptoms and effects in the world and in Poland. The work presents the causes and the sources of crisis as well as corrective measures taken by governments and financial institutions. The subject literature and information from different national and international financial institutions and organisations were used as a source of research materials and data for analysis. The financial crisis appeared in Poland with some delay and was less intensive than in other developed countries. Anti-crisis measures taken in Poland complied with the recommendations of the European Union and the International Monetary Fund. The measures taken by the Polish central bank concerned the institutional sphere, the manner in which the financial policy worked and how it was pursued, as well as the real sphere of the economy, including especially enterprises, households and public institutions.

Legislative and regulatory responses to the global financial crisis from within the United Kingdom

2014 ◽  
Vol 21 (2) ◽  
pp. 124-148 ◽  
Author(s):  
Graeme Baber
Keyword(s):  
United Kingdom ◽  
Financial Crisis ◽  
Design Methodology ◽  
Global Financial Crisis ◽  
The European Union ◽  
Content Type ◽  
The United Kingdom ◽  
Economic Statistics ◽  
The Global Financial Crisis ◽  
The Uk

Purpose – The purpose of this paper is to report and review the legislative and regulatory responses to the global financial crisis (GFC) from within the United Kingdom (UK). Design/methodology/approach – The paper observes aspects of the effect of the GFC within the UK, using economic statistics and institutional case studies. It summarises the laws that the European Union (EU) and the UK have produced in the wake of the crisis and recommends approaches to be taken from this point. Findings – The regulators are putting in place a comprehensive, integrated framework, much of which is sensible in its content. However, this structure will be insufficient to re-establish the effective operation of the financial sector, unless firms comply with the rules and a “relationship culture” is developed. Research limitations/implications – It is not yet clear how the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will perform and coordinate. Originality/value – The paper presents a comprehensive review of relevant EU and UK legislation, thereby bringing readers up to date with the situation in the UK.

Paris

2018 ◽  
Author(s):  
Laure Quennouëlle-Corre
Keyword(s):  
Asset Management ◽  
Financial Services ◽  
Global Financial Crisis ◽  
The European Union ◽  
Financial Centre ◽  
Banking Stability ◽  
Long Term Trends ◽  
The Global Financial Crisis ◽  
The Uk ◽  
Near Future

This chapter discusses Paris as an international financial centre and focuses on the role played by financial services and the numerous and various criteria that affect a financial centre’s competitiveness. It stresses both the long-term trends and the new circumstances that influence its current strengths and weaknesses compared to its main European competitors. The chapter analyses to what extent and how the Global Financial Crisis affected the financial activities of the French capital. Its banking stability, its active asset management industry, and its highly skilled labour market remain decisive advantages. The main uncertainty in the near future comes from the Brexit negotiations between the UK and the European Union, but there is also uncertainty arising from the development of technological delocalization of global firms’ financial activities.

21. Economic and Monetary Union

2016 ◽  
Author(s):  
Amy Verdun
Keyword(s):  
Monetary Union ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Economic And Monetary Union ◽  
The European Union ◽  
Member States ◽  
The Global Financial Crisis ◽  
The Uk ◽  
Monetary Convergence

This chapter examines the Economic and Monetary Union (EMU), focusing on its key components and what happens when countries join. EMU has been an integral part of European integration since the early 1970s. Member states agreed that there should be economic and monetary convergence prior to launching EMU. However, there are some member states (such as the UK) that did not want to join EMU. The chapter first explains what economic and monetary policy is before discussing various theoretical explanations, both economic and political, accounting for why EMU was created. It also considers some criticisms of EMU and how EMU has fared under the global financial crisis and the sovereign debt crisis. It concludes by reflecting on what the future of the European Union will be with EMU in place.

CONDITIONS FOR INTRODUCING A BANKING TAX IN POLAND

2017 ◽  
Vol 2 (2) ◽  
pp. 135-160
Author(s):  
Dariusz Prokopowicz
Keyword(s):  
European Union ◽  
Commercial Banks ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Banking System ◽  
Legislative Process ◽  
Legal Regulations ◽  
The European Union ◽  
Standards And Guidelines ◽  
The Global Financial Crisis

This article describes the main determining factors of the implementation of a bank tax in commercial banks that run their activities in Poland. It also considers the importance of legal regulations of the rules for collecting this tax. The global financial crisis of 2008 was an important factor that has stimulated the processes of improving legal regulations concerning banks. Weakening economic situation and higher risk caused the need to improve procedures and banking legal regulations of the financial transactions safety in Poland. Improvement of banking system financial procedures is correlated with gradually progressing globalization but also with anti-crisis socio-economic policy in Poland. Therefore, the level of adaptation of legal procedures and norms regarding commercial banks in Poland to the European Union standards and guidelines of the Basel Committee is continuously improving. One of the specific aspects of these adjustment processes was the introduction of a bank tax, which operates in most European Union countries. The introduction of this tax could be one of the factors determining the sale of subsidiary companies, i.e. banks that are controlled in Poland by foreign financial institutions. Therefore this can be an important factor, which would accelerate the process of repolonization of the banking sector in Poland. The economically effective introduction of a bank tax depends among other things on efficient legislative process.

scholarly journals Brexit: human resourcing implications

2019 ◽  
Vol 41 (5) ◽  
pp. 1033-1045 ◽  
Author(s):  
Maranda Ridgway
Keyword(s):  
Global Financial Crisis ◽  
Future Research ◽  
European Economic Area ◽  
The European Union ◽  
Skilled Workers ◽  
Theoretical Evaluation ◽  
Content Type ◽  
Global Recession ◽  
The Global Financial Crisis ◽  
The Uk

Purpose Three years on from the Brexit vote, while it remains a central topic for debate in the media, there has been limited discussion about the human resource (HR) implications. The purpose of this paper is to provide theoretical evaluation and informed discussion, distilled into four interconnected propositions, on how employee resourcing as a HR practice may be impacted following actual Brexit decisions. Design/methodology/approach Drawing on the employee resourcing literature, the paper adopts a discursive approach which examines how the UK’s decision to exit the European Union will affect HR practice. The paper draws comparison with the global recession since 2008, a similarly unprecedented development in its discussion of employee resourcing practices and draws parallels which may help to inform the future of HR practices in the UK, because of Brexit. Findings This paper offers a set of propositions; the flow of talent into the UK may become more restricted and reinvigorate the “war for talent” that followed the effects of the global financial crisis on the UK. To attract and retain workers in relatively lower-skilled roles, employers may be faced with a need to re-skill such roles and adopt more flexible working arrangements. Finally, to meet skilled employment requirements, removal of restrictions to recruit from within the European Economic Area may trigger increased global migration of skilled workers. Originality/value This paper contributes to the discussions regarding the implications of Brexit for HR practice by offering propositions to shape future research agendas.

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