European Financial Regulation: Levelling the Cross-Sectoral Playing Field. A Research Agenda

Author(s):  
Veerle A. Colaert
Author(s):  
Mccormick Roger ◽  
Stears Chris

This chapter discusses the various laws, regulations, and comparable measures that were passed or proposed in response to the financial crisis in the EU and elsewhere. It covers the responses of the de Larosière Report, G20, the Basel Committee on Banking Supervision, and the Financial Stability Board. The de Larosière Report, for instance, was commissioned by the President of the European Commission in October 2008 and delivered on 25 February 2009. The report sought ‘to give advice on the future of European financial regulation and supervision’ and has formed the basis of many of the responses to the financial crisis at EU level. The G20 issued a comprehensive communiqué on the crisis at the London ‘Summit’ of 2 April 2009, covering a number of macro-economic and other ‘architectural’ issues.


Author(s):  
Veerle Colaert

Recent years have witnessed a tidal wave of new EU financial regulation in general and investor protection legislation in particular. The Capital Markets Union project has added a number of further initiatives. This chapter attempts to bring some order in the multitude of rules, by sorting them into three main building blocks: information, service quality requirements (conduct of business rules), and product regulation. A general trend among the three building blocks is a more cross-sectoral approach to investor protection, levelling the playing field between banking, investment, insurance, and personal pension products and services. This trend towards a more horizontal approach, although not perfect, is laudable. A challenge for EU financial regulation is to decide how far this trend should go.


2007 ◽  
Vol 8 (6) ◽  
pp. 617-634 ◽  
Author(s):  
Matthias Basedau ◽  
Matthijs Bogaards ◽  
Christof Hartmann ◽  
Peter Niesen

The wave of democratization that has engulfed African countries since the 1980s has been characterized by the establishment of or return to multi-party politics. This has mostly happened in political systems with a long history of de facto and de jure constraints on the ability of political parties to function effectively. While few countries today (examples include Eritrea and Swaziland) continue to deny the principle and legitimacy of a pluralistic organization of political associations and parties, many political parties in “new democracies” still face insurmountable obstacles in creating a level playing field and have to cope with legal and administrative provisions that severely restrict their free operation.


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