Did Hedge Funds Exasperate the Financial Market Crisis? - Track: Financial Crises: Causes, Impacts, Solutions

2012 ◽  
Author(s):  
Nandita Das
Keyword(s):  
Financial Market ◽  
Hedge Funds ◽  
Financial Crises ◽  
Financial Market Crisis

Bußgeldrechtliche Sanktionierung juristischer Personen im neuen Marktmissbrauchsrecht

2021 ◽  
Author(s):  
Ann-Kristin Reinartz
Keyword(s):  
Financial Market ◽  
Legal Issues ◽  
European Level ◽  
Central Object ◽  
Corporate Group ◽  
Market Abuse ◽  
Principle Of Proportionality ◽  
The Individual ◽  
Financial Market Crisis

The main cause of the financial market crisis was the lack of effective and deterrent sanctions for market abuse and the inadequate enforcement of these sanctions. The European legislator has addressed this shortcoming by massively tightening sanctions – especially fines against legal persons. The thesis examines new legal issues that arise in particular from the increasing regulatory density at the European level. The central object of investigation is the tension between the need for deterrent sanctions and the preservation of the principle of proportionality as well as other constitutional principles at the level of the individual company as well as the level of the corporate group.

Part II UK Securities Markets, 8 Transaction Reporting

2021 ◽  
Author(s):  
Hanif Saima
Keyword(s):  
Financial Market ◽  
Competent Authority ◽  
Price Formation ◽  
Securities Markets ◽  
Regulatory Body ◽  
Reporting Requirements ◽  
The Uk ◽  
Financial Market Crisis

This chapter explains “transaction reporting” as the process by which detailed information about a transaction is submitted to the appropriate regulatory body. It draws attention to the European transaction reporting requirements, particularly Article 20 of the Investment Services Directive, that can be traced to 1993. It also discusses the significant expansion of the pan—European harmonised approach to transaction reporting in 2008, following the introduction of new measures to address weaknesses and close loopholes caused by the financial market crisis. This chapter outlines how transaction reporting provides the Financial Conduct Authority (FCA) in the UK with a representation of the transaction that informs the competent authority about all the relevant circumstances under which the transaction took place. It describes how transaction reporting is operationally and conceptually distinct from “trade reporting” that is more concerned with the price formation.

scholarly journals Systemic Risk Indicators Based on Nonlinear PolyModel

2018 ◽  
Vol 12 (1) ◽  
pp. 2 ◽  
Author(s):  
Xingxing Ye ◽  
Raphael Douady
Keyword(s):  
Financial Market ◽  
Systemic Risk ◽  
Financial Crises ◽  
Economic Benefit ◽  
Risk Indicators ◽  
Large Set ◽  
Theoretical Simulation ◽  
Nonlinear Factor Analysis ◽  
Nonlinear Approach ◽  
Covered Call

The global financial market has become extremely interconnected as it demonstrates strong nonlinear contagion in times of crisis. As a result, it is necessary to measure financial systemic risk in a comprehensive and nonlinear approach. By establishing a large set of risk factors as the main bones of the financial market network and applying nonlinear factor analysis in the form of so-called PolyModel, this paper proposes two systemic risk indicators that can prognosticate the advent and trace the development of financial crises. Through financial network analysis, theoretical simulation, empirical data analysis and final validation, we argue that the indicators suggested in this paper are proved to be very effective in forecasting and tracing the financial crises from 1998 to 2017. The economic benefit of the indicator is evidenced by the enhancement of a protective put/covered call strategy on major stock markets.

scholarly journals Correlation, Contagion, and Asian Evidence

2006 ◽  
Vol 5 (2) ◽  
pp. 32-72 ◽  
Author(s):  
Mardi Dungey ◽  
Renée Fry ◽  
Vance L. Martin
Keyword(s):  
Emerging Markets ◽  
Financial Market ◽  
Financial Crises ◽  
Correlation Coefficients ◽  
Equity Markets ◽  
Empirical Literature ◽  
Bond Markets ◽  
Developed Markets ◽  
Market Contagion ◽  
Trade And Financial Linkages

This paper examines the empirical literature on financial market contagion in Asia during the 1997–98 financial crises with respect to existing tests of contagion. Empirical evidence shows that contagion affects both developed and emerging markets and does not seem to vary with the relative fundamental economic health or trade and financial linkages of the Asian economies. Contagion occurs across both asset types and geographical borders and tends to have larger effects in equity markets than in currency and bond markets. There is evidence to support the hypothesis that contagion is regional and transmitted through developed markets. A discussion of the behavior of correlation coefficients in the presence of contagion and financial crises suggests that they are not a reliable metric for detecting contagion.

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