Cybersecurity regulation in the financial sector: prospects of legal harmonization in the European Union and beyond

2020 ◽  
Vol 25 (1) ◽  
pp. 125-167
Author(s):  
Anton N Didenko
Keyword(s):  
European Union ◽  
Financial Sector ◽  
The Novel ◽  
The European Union ◽  
The Usa ◽  
The Common ◽  
Legal Frameworks ◽  
Legal Harmonization ◽  
Regulatory Landscape ◽  
Practical Recommendations

Abstract Over the past several years, the cybersecurity regulatory landscape has undergone unprecedented change. Bespoke cybersecurity laws and regulations have replaced pre-existing general risk management and business continuity rules in a number of jurisdictions, including the European Union, Hong Kong, Russia, the USA, and Singapore. Cybersecurity has also become the focus of international rules and recommendations adopted by numerous international organizations. The financial sector lies at the centre of the new regulatory initiatives—which, in the absence of an agreed international approach, vary substantially across jurisdictions. This article analyses these emerging legal frameworks by (i) conducting a comparative study of the novel cybersecurity regulations in finance; (ii) identifying the common features of such frameworks; and (iii) assessing the prospect of their harmonization at an international level. It argues that international harmonization in this area is necessary to overcome the underlying regulatory challenges and outlines the scope of rules amenable, first, to initial (de minimis) and, second, subsequent (more expansive) harmonization. The article concludes with a list of main upcoming challenges in designing and harmonizing cybersecurity regulations in finance and practical recommendations for overcoming them.

scholarly journals Economic and financial results of the USA and the European Union sanctions war against Russia: first results

2021 ◽  
Vol 39 (68) ◽  
pp. 251-272
Author(s):  
Ilmir Nusratullin ◽  
Raul Yarullin ◽  
Tagira Ismagilova ◽  
Olga Eremeeva ◽  
Tatiana Ermoshina
Keyword(s):  
United States ◽  
European Union ◽  
Financial Sector ◽  
The United States ◽  
Federal State ◽  
The European Union ◽  
Russian Economy ◽  
First Results ◽  
The Usa ◽  
The Impact

As part of this study, the goal is set to assess the impact of sanctions imposed by the United States and the European Union on the economy and financial sector of Russia, to identify the effectiveness of the initial goals of these countries. To achieve the goal, the legal acts concerning the imposed sanctions of the USA and the European Union against Russia were first analyzed, a chronology of events was described, and sanctions were classified. Further, based on the data of the World Bank and the Federal State Statistics Service of the Russian Federation, the results of the sanction pressure on the Russian economy and financial sector were estimated. Then the results of this study were compared with the results obtained by other scholars. The paper concluded that the sanctions of the United States and the European Union did have an impact on the economy and financial sector of Russia, but this influence was not as significant as the leaders of these countries expected. In addition, the impact of the sanctions is gradually decreasing despite the introduction of new sanctions on various pretexts.

scholarly journals Retro-Utopia Temptation of Archangel Mikhail Groys By Vadim Mesyats

2020 ◽  
Author(s):  
N.V.Barkovskaya .
Keyword(s):  
European Union ◽  
Spiritual Transformation ◽  
The Novel ◽  
The European Union ◽  
Common Cause ◽  
Alternative Scenario ◽  
Paradise Regained ◽  
The Common ◽  
Grand Duchy Of Lithuania ◽  
Grand Duchy

This article discusses the retro-utopian novel Temptation of Archangel  Mikhail  Groys  by Vadim Mesyats. The novel explores an alternative scenario of overcoming the bleak present and entering the future by going back to a past represented by the medieval Grand Duchy of Lithuania. The novel is set in Belarus in 2013. Belarus is shown as the last stronghold of socialism, as the country that has managed to preserve both its recent and more distant past, as the ’paradise regained’, whose boundaries remain transparent for Russia and for the European Union. Belarus is a multi-confessional and (historically) multi-ethnic country, allowing it to uphold the ‘common cause’ of uniting brother nations and initiating their spiritual transformation. Apart from the obvious allusion to N. Fyodorov’s philosophy, the novel also contains multiple reminiscences to the works of V. Soloviev, Gorky’s The Confession, contemporary neo-paganism and discussions of contemporary historians about the Grand Duchy of Lithuania as the second centre for consolidating Russian lands. Keywords: neo-mythologism, neo-paganism, modern Russian prose, alternative history, Soviet nostalgia

Constitutional Bases to the Common Fisheries Policy of the European Union

2020 ◽  
Vol 23 (1) ◽  
pp. 386-399
Author(s):  
Malgosia Fitzmaurice ◽  
Mercedes Rosello
Keyword(s):  
European Union ◽  
International Law ◽  
Law Of The Sea ◽  
The European Union ◽  
Fisheries Policy ◽  
Unique Approach ◽  
The Common ◽  
Fisheries Regulation ◽  
Legal Frameworks ◽  
The Stability

The European Union possesses constitutional characteristics that have permitted a unique approach to the organization and exercise of public authority in matters of marine fisheries regulation. The resulting system, known as the Common Fisheries Policy (CFP), is underpinned by the international law of the sea and other multilateral legal frameworks, yet also contains significant special features. Through extensive legislation and successive reforms the CFP has evolved into a complex body of principles, rules and institutions, growing in ambition and sophistication with each iteration. Yet, its success is not only dependent on its capacity for evolution, but also on the stability of its constitutional foundations, and the extent to which it can coherently support the plurality of idiosyncrasies and interests that characterize the Member States and their diverse fishing interests and cultures.

Russian Federation and the United States of America: geostrategic directions to manage the Ukrainian crisis

2019 ◽  
pp. 123
Author(s):  
Attarid Awadh Abdulhameed
Keyword(s):  
United States ◽  
European Union ◽  
National Security ◽  
Russian Federation ◽  
United States Of America ◽  
The United States ◽  
The European Union ◽  
The Usa ◽  
Ukrainian Crisis ◽  
Zero Sum

Ukrainia Remains of huge importance to Russian Strategy because of its Strategic importance. For being a privileged Postion in new Eurasia, without its existence there would be no logical resons for eastward Expansion by European Powers.  As well as in Connection with the progress of Ukrainian is no less important for the USA (VSD, NDI, CIA, or pentagon) and the European Union with all organs, and this is announced by John Kerry. There has always ben Russian Fear and Fear of any move by NATO or USA in the area that it poses a threat to  Russians national Security and its independent role and in funence  on its forces especially the Navy Forces. There for, the Crisis manyement was not Zero sum game, there are gains and offset losses, but Russia does not accept this and want a Zero Sun game because the USA. And European exteance is a Foot hold in Regin Which Russian sees as a threat to its national security and want to monopolize control in the strategic Qirim.

scholarly journals The European Union Green Deal: Clean Energy Wellbeing Opportunities and the Risk of the Jevons Paradox

Energies ◽  
2021 ◽  
Vol 14 (14) ◽  
pp. 4148
Author(s):  
Estrella Trincado ◽  
Antonio Sánchez-Bayón ◽  
José María Vindel
Keyword(s):  
Climate Change ◽  
European Union ◽  
Great Recession ◽  
International Institutions ◽  
Smart Cities ◽  
Clean Energy ◽  
The European Union ◽  
The Great Recession ◽  
Financial Framework ◽  
The Common

After the Great Recession of 2008, there was a strong commitment from several international institutions and forums to improve wellbeing economics, with a switch towards satisfaction and sustainability in people–planet–profit relations. The initiative of the European Union is the Green Deal, which is similar to the UN SGD agenda for Horizon 2030. It is the common political economy plan for the Multiannual Financial Framework, 2021–2027. This project intends, at the same time, to stop climate change and to promote the people’s wellness within healthy organizations and smart cities with access to cheap and clean energy. However, there is a risk for the success of this aim: the Jevons paradox. In this paper, we make a thorough revision of the literature on the Jevons Paradox, which implies that energy efficiency leads to higher levels of consumption of energy and to a bigger hazard of climate change and environmental degradation.

scholarly journals Fluorescence optical imaging: ready for prime time?

RMD Open ◽  
2021 ◽  
Vol 7 (2) ◽  
pp. e001497
Author(s):  
Sarah Ohrndorf ◽  
Anne-Marie Glimm ◽  
Mads Ammitzbøll-Danielsen ◽  
Mikkel Ostergaard ◽  
Gerd R Burmester
Keyword(s):  
Optical Imaging ◽  
Power Doppler ◽  
Joint Inflammation ◽  
Diagnostic Process ◽  
The Novel ◽  
The European Union ◽  
Fluorescence Optical Imaging ◽  
Disturbed Microcirculation ◽  
The Usa ◽  
Magnetic Resonance Imaging Mri

The novel technique of fluorescence optical imaging (FOI, Xiralite), which is approved in the European Union and the USA for clinical use, has been the object of studies since 2009. Indocyanine green-based FOI can demonstrate an impaired microcirculation caused by inflammation in both hands in one examination. Several studies have investigated FOI for detection of joint inflammation by comparing FOI to magnetic resonance imaging (MRI) and/or musculoskeletal ultrasound (MSUS). The results have shown a generally good agreement (>80%) between FOI and clinical examination, MRI and MSUS by power Doppler in inflammatory joint diseases. Moreover, characteristic enhancements in skin and nails are seen in PsA, which potentially can be useful in the diagnostic process of early undifferentiated arthritis. Furthermore, FOI has been investigated for the visualisation of a disturbed microcirculation in the hands and fingers of patients with systemic sclerosis (SSc), highlighting the potential of monitoring vascular changes in SSc and other vasculopathies. The available data indicate that it is time to consider FOI as a useful part of the imaging repertoire in rheumatology clinical practice, particularly where MSUS and MRI are not easily available.

scholarly journals The common energy market of the European Union – utopia or reality?

2017 ◽  
Vol 11 (1) ◽  
pp. 93-102 ◽  
Author(s):  
Ana-Maria Iulia Şanta
Keyword(s):  
European Union ◽  
Renewable Energy ◽  
European Commission ◽  
Social Impact ◽  
Clean Energy ◽  
Energy Market ◽  
The European Union ◽  
Legal Provisions ◽  
Energy Union ◽  
The Common

Abstract The European Commission has the initiative to foster the sector of renewable energy and to build an Energy Union, with a common energy market at the level of the European Union, but is this only an utopic vision or is this possible to achieve? The topic of clean energy is very new and of great interest for the European Union, which is shown by the fact that the European Commission recently adopted on the 30th November 2016 the package “Clean Energy for All Europeans”, which contains proposals for the modernization of the energy market at the level of the European Union. But which are the challenges such a project is confronted with? According to the literature, such challenges are related to the process of liberalization of electricity markets. Conflicts between national interest and international actors of the energy market might occur. Due to the oligopolistic structure of the energy market, there are several barriers to the market entry. In order to answer to the research questions, case studies regarding the liberalization of the energy market will be analyzed in a comparative manner, offering an international overview. Furthermore, the legal provisions on which the common energy policy of the European Union relies, will be analyzed, as well as their economic and social impact. The package “Clean Energy for All Europeans” comprises a proposal of the revised Renewable energy Directive, energy efficiency measures and issues related to the Energy Union Governance. It contains as well proposals for the electricity market design, which will be analyzed and the present paper outlines the contribution of this proposal in building a common energy market of the European Union. What role does competition play in implementing the common energy market of the European Union? Which role do competition authorities have in this context? These are interesting aspects to be analyzed in the present paper.

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