scholarly journals The Brazilian Financial System, Cyber Security Policy and Personal Data Protection

2020 ◽  
Vol 12 (2) ◽  
pp. 172-186
Author(s):  
Carlos Goettenauer
Keyword(s):  
Financial Institutions ◽  
Data Protection ◽  
Cyber Security ◽  
Security Policy ◽  
Business Models ◽  
Financial System ◽  
Regulatory Environment ◽  
Regulatory Regime ◽  
Legal Regime ◽  
The Creation

Purpose ”“ This work intends to map and analyze, through the polycentric regulation proposal introduced by Julia Black, the contribution of the actors involved in the creation of the data protection regulatory legal regime in financial system, after the introduction of the cyber security policy by the Central Bank of Brazil, the approval of the General Data Protection State and new financial business models. Methodology ”“ It first analyses the regulatory and statutory norms associated with data protection in the financial system, combined with the cyber security policies published by financial institutions. After this, it identifies the actors who contribute to the regulatory environment and their respective regulatory role. The final step is the creation of a table to categorize each actor’s functions in the regulatory regime. Findings ”“ The research concludes that the contracts between financial institutions and technology play a major role on creating and hybrid regulatory environment for data protection. Originality ”“ The work is an original analysis of the data protection regulatory legal regime in financial system, using polycentric regulation not only as a theoretical reference, but also as a methodological framework.

Culture and the Digital Copyright Chimera: Assessing the International Regulatory System of the Music Industry in Relation to Cultural Diversity

2006 ◽  
Vol 13 (1) ◽  
pp. 59-97 ◽  
Author(s):  
Johnlee Scelba Curtis
Keyword(s):  
Music Industry ◽  
Regulatory System ◽  
Cultural Property ◽  
Regulatory Environment ◽  
Regulatory Regime ◽  
Legal Regime ◽  
Current Form ◽  
Digital Copyright ◽  
History Of

This article examines the international legal regime that governs cultural commodities by providing an up-to-date stocktaking in the field. In doing so, this paper focuses on the music industry, both as the general backdrop and as a context in which to observe the evolution of the current regulatory regime. It includes a review of the history of the commoditization process of musical goods, the requisite legislative and judicial decisions, the international regulatory environment, and a tripartite case study. By reviewing various approaches and examining several recent arenas where the issues have been implicated, the author demonstrates that, in its current form, the international copyright regime is not sufficiently supportive of diversity in cultural property.

Optimale Regulierung bleibt eine Herausforderung!

2011 ◽  
Vol 55 (1-2) ◽  
Author(s):  
Hiltrud Thelen-Pischke
Keyword(s):  
Financial Crisis ◽  
Financial Institutions ◽  
Business Models ◽  
Financial Regulation ◽  
Basel Ii ◽  
Lessons Learned ◽  
Regulatory Environment ◽  
Basel Iii ◽  
Key Factor ◽  
Recent Financial Crisis

The challenge of perfect regulation! Comments to the debate on reforms of the financial sector. In the light of the recent financial crisis the question was raised, if there is any chance of regulation at all to help prevent future crises. As lessons learned from the financial crisis regulators have already adopted numerous measures that aim to enhance financial regulation. Most prominent is the reform of the well-known Basel II soon to be Basel III framework. The following paper takes a closer look on the most important measures against the background of the economic aspects of financial intermediation. The overall focus of this paper is the question if the reform of Basel II can improve the regulatory environment. This includes an analysis of how the changes in financial regulation will affect financial institutions. As a result the paper will show that most of the discussed and adopted measures actually lead to greater regulatory effectiveness. Nevertheless, the key factor for more effective financial regulation is a deep knowledge with regard to financial institutions and their business models. Only a thourough understanding of each individual bank and the system as a whole puts the regulator in the position to assess risks which might lead to the next financial crisis and to react appropriately.

Islamic Finance: Opportunities for the Russian Economy

2015 ◽  
pp. 106-127
Author(s):  
B. Chokaev
Keyword(s):  
Financial Institutions ◽  
Financial System ◽  
Economic Benefits ◽  
Islamic Finance ◽  
Finance Industry ◽  
Russian Economy ◽  
Islamic Financial Institutions ◽  
Economic Infrastructure ◽  
The Creation

The article discusses the prospects for the development of the financial system and the economy, associated with the emergence of Islamic finance industry in the country. The author briefly describes the important features of Islamic finance, examines the main obstacles for functioning of Islamic financial institutions in the Russian legislation. Furthermore, the paper analyzes the economic benefits from the creation of economic infrastructure, which enables Islamic financial companies to operate on equal conditions with other subjects of the financial system in terms of financial, tax and administrative aspects.

scholarly journals Strategic and tactical benchmarks for restructuring the financial system of Ukraine

2021 ◽  
Vol 20 (1) ◽  
pp. 11-22
Author(s):  
Serhiy Frolov ◽  
Volodymyr Orlov ◽  
Olha Lozynska ◽  
Fathi Shukairi
Keyword(s):  
Financial Institutions ◽  
Financial Literacy ◽  
Business Models ◽  
Service Providers ◽  
Financial System ◽  
Gradual Transition ◽  
Shadow Banking ◽  
Advantages And Disadvantages ◽  
Stage Of Development ◽  
The World

General trends of the current stage of development of the world and domestic economies confirm the most important trends of financial systems of the leading countries, including Ukraine. Among them, it is advisable to highlight the following: financial inclusion, formation of an unassailable reputation by financial institutions, reducing the volume of shadow banking, increasing the level of the population’s financial literacy, developing financial technologies, and deepening the financial system. All of this involves increasing the size of financial assets in relation to the size of the economy based on the GDP indicator. Based on the results of generalizing the approaches of scientists to the list of determining factors affecting the development of the country’s financial system, the key role of the level of financial literacy of the population was established. The article presents the total index of financial literacy of the population of individual countries of Europe and the world based on the index components. The development of the financial system in all these areas creates conditions for a gradual transition to the development of a new quality financial ecosystem. The article proposes a definition of the financial ecosystem in the context of established hybrid of real and digital space based on the integration of financial institutions as key players with technology companies, public service providers and other participants. To ensure development, the advantages and disadvantages are specified based on the results of the SWOT analysis, which allowed to systematize the strengths and weaknesses, as well as the opportunities and threats of the financial ecosystem development. Based on the results of the analysis, four basic strategies for restructuring the financial system were developed, which are the basis for proposals for the development of the financial ecosystem and changing the business models of functioning of its subjects in Ukraine.

FinTech in Brazil

2021 ◽  
pp. 154-165
Author(s):  
Raphaela Godinho
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
Business Models ◽  
Financial System ◽  
Competitive Market ◽  
Digital Platforms ◽  
Current Context ◽  
Start Ups

To accompany the development and advancement of new means of access and service, banks have sought the adoption of friendly and efficient digital platforms so that they can contain the advances of fintechs. The research approaches topics that are aligned, such as the current context of the economy, the National Financial System, and the scenario of start-ups in Brazil. It was also observed that there is a need to regulate the sector so that it can grow with more freedom and thus be able to add to the country this technological wealth, but it analyzes the need to be less bureaucratic like the financial institutions that operate in the market. The study allowed the authors to understand how large companies already established in the financial market identify fintechs and their business models, identifying opportunities, threats, and how this understanding permits the fintechs to prepare for a competitive market, and for large companies to understand how this model can be characterized as an ally.

scholarly journals Systemic risks for investments under global uncertainty

2020 ◽  
Keyword(s):  
Comparative Analysis ◽  
Financial Institutions ◽  
Systemic Risk ◽  
Business Models ◽  
Financial System ◽  
Systemic Risks ◽  
Key Features ◽  
Global Uncertainty ◽  
The Impact ◽  
Global Financial System

Under growing uncertainty and interdependence, systemic risks are essential for the effective functioning of the global financial system. Therefore, the subject of the proposed study is systemic risks for the global financial system. The goal of this work is to identify and disclose the role of systemic risks in carrying out investment activities. The article solves the following objectives: to identify and reveal key features and characteristics of systemic risks, to identify new challenges in systemic risk management, to identify new manifestations of systemic risks. To achieve the goal of the study, the following methods are used: system-structural, synergetic, method of comparative analysis, method of analysis and synthesis. The study reveals the following results. The main approaches to defining the concept of systemic risks are identified and their comparative analysis is carried out. The main approaches to measuring systemic risks and measurement criteria are identified. The differences between the concepts of systemic and systematic risk are revealed, and the mechanism of their interrelation is identified. New systemic risks in the conditions of global uncertainty are identified. The impact of the COVID-19 pandemic on systemic risks is determined. The main new types of risks and threats to financial stability in the long run are identified. The main directions of response of financial regulatory bodies to new systemic risks are determined. The main effects of the impact of measures to stimulate economic growth on the state of financial markets and investment activities are identified. The conclusions of the study are as follows. It is determined that there is no unanimous definition of systemic risk. Key features of systemic risks are identified, such as unpredictability, large-scale impact, spillover effect, impact on the real sector of the economy, etc. It is determined that when measuring systemic risk there are two problems: the measure of quantitative expression of systemic risk as a unit and the distribution of systemic risk between individual financial institutions. It is revealed that systemic risk can be a source of systematic risks. The COVID-19 pandemic, as an extraordinary macroeconomic shock, is belived to lead to new systemic risks. It is revealed that new types of systemic risks include, in particular, default risks, complexity of the macroeconomic environment, risks of sovereign financing, risk of lack of liquidity. The impact of new systemic risks on investment activities is revealed, in particular, changes in the business models of financial institutions, changes in the strategies of investment funds, lower ratings of debt securities, increasing the cost of debt financing, lack of liquidity.

Attracting the Planets

2017 ◽  
Author(s):  
Keeley Wilson
Keyword(s):  
Operating Systems ◽  
New World ◽  
Business Models ◽  
Data Communications ◽  
Camera Phone ◽  
Software Platforms ◽  
The Creation ◽  
Symbian Os

In the late 1990s, after Nokia developed the first smartphone (the “Communicator”), executives became increasingly sensitive to the importance of operating systems, data communications, and multimedia. It was also becoming clear that more complex business models would be needed to tap in to new opportunities. This chapter describes and analyzes how Nokia managed this transformation. It describes the development of the Communicator smartphone, the establishment of the Symbian OS, and the creation of an innovative camera phone. As the nature of the industry was changing and becoming more complex, it also looks at how Nokia responded by engaging with a wider ecosystem to develop the visual radio concept. These examples highlight the challenges that the new world of software platforms and application ecosystems raised for Nokia.

Critical Analysis of the Zero Risk Weight Privilege for European Sovereign Debt in Light of Art. 124 TFEU

2020 ◽  
Vol 17 (1) ◽  
Author(s):  
Patrick Hauser
Keyword(s):  
Financial Institutions ◽  
Sovereign Debt ◽  
Banking System ◽  
Financial System ◽  
Significant Risk ◽  
Capital Adequacy ◽  
Individual Member ◽  
Member States ◽  
The Individual ◽  
Credit Institutions

AbstractThe zero risk weight privilege for European sovereign debt in the current capital adequacy requirements for credit institutions incentivises credit institutions to acquire and hold sovereign debt. However, it also poses a significant risk to the stability of the banking system and thus the financial system as a whole. It is argued that this privilege should not only be abolished due to the risk it entails but that it is also non conformant with EU primary law. Art. 124 TFEU prohibits privileged access of the EU and Member States' public sector to financial institutions except for prudential considerations. The protective purpose of Art. 124 TFEU to ensure sound budgetary policies by subjecting public borrowing to the same rules as borrowing by other market participants is thwarted by the uniform zero risk weight privilege. Further, as this privilege does not take into account the varying creditworthiness of the individual Member States it does not promote the soundness of financial institutions so as to strengthen the soundness of the financial system as whole, but rather endangers systemic stability. The zero risk weight privilege is therefore not based on prudential considerations and hence violates Art. 124 TFEU.

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