3 Integration of financial markets in the European Union: regulation and supervision framework STANISLAv POLOUčEK

2012 ◽  
pp. 79-89
Keyword(s):  
European Union ◽  
Financial Markets ◽  
The European Union ◽  
Regulation And Supervision

Ocena antykryzysowej polityki gospodarczej Stanów Zjednoczonych i wybranych państw członkowskich Unii Europejskiej w latach 2005–2014

2016 ◽  
pp. 26-46
Author(s):  
Marcin Jan Flotyński
Keyword(s):  
United States ◽  
European Union ◽  
Financial Markets ◽  
Global Economy ◽  
Global Financial Crisis ◽  
The United States ◽  
The European Union ◽  
High Volatility ◽  
The Global Financial Crisis ◽  
Domestic Products

The global financial crisis in 2007–2009 began a period of high volatility on the financial markets. Specifically, it caused an increased amplitude of fluctuations of the level of gross domestic products, the level of investment and consumption and exchange rates in particular countries. To address the adverse market circumstances, governments and central banks took actions in order to bolster the weakening global economy. The aim of this article is to present the anti-crisis actions in the United States and selected member states of the European Union, including Poland, and an assessment of their efficiency. The analysis conducted indicates that generally the actions taken in the United States in response to the crisis were faster and more adequate to the existing circumstances than in the European Union.

Section III. Prospects for the European Union

2002 ◽  
Vol 181 ◽  
pp. 25-37
Keyword(s):  
European Union ◽  
Financial Markets ◽  
Euro Area ◽  
Domestic Demand ◽  
The European Union ◽  
Medium Term ◽  
Sharp Drop ◽  
External Demand ◽  
Stability Pact ◽  
Recent Developments

The outcome for growth in the Euro Area in the first quarter of 2002 was slightly weaker than our April projections. Output rose by 0.3 per cent relative to the previous quarter, following a decline of the same magnitude in the final quarter of last year. The recovery stemmed primarily from a sharp drop in imports of 0.8 per cent, rather than a pickup in domestic or external demand. The weaker outcome for the first quarter, coupled with recent developments in financial markets, dampens the outlook for the year as a whole. Industrial production rose by 0.8 per cent in March, but declined by 0.7 per cent in April and edged up by only 0.1 per cent in May, supporting our expectation that recovery will be gradual. We forecast growth of 1¼ per cent in the Euro Area this year, but anticipate a stronger improvement next year helped by a recovery of domestic demand. This will be supported by tax cuts in several countries, despite the fact that the Euro Area's three largest economies appear unlikely to meet their Stability Pact pledge of achieving a budget at or close to balance by 2004. We expect output in the Euro Area to grow by about 2½ per cent next year, and by about 2½ -2¾ per cent per annum throughout the medium-term.

International Jurisdiction for Investor Claims Based on Prospectus Liability following CJEU 12.9.2018, C-304/17, Löber/Barclays

2021 ◽  
Vol 12 (1) ◽  
pp. 65-81
Author(s):  
Thomas Thiede ◽  
Steffen Lorscheider
Keyword(s):  
European Union ◽  
Financial Markets ◽  
Methodological Approach ◽  
Case Law ◽  
The European Union ◽  
Related Case ◽  
Procedural Law ◽  
Court Of Justice ◽  
Domestic Courts ◽  
Prospectus Liability

Abstract Lately, the value of many products on foreign financial markets has dropped considerably. As a result, affected investors regularly strive to hold the issuers of these products liable before domestic courts. In the following, the relevant European rules of international civil procedural law and the related case law of the Court of Justice of the European Union will be examined. Thereafter, a fresh methodological approach to the questions at hand will be presented.

scholarly journals Editorial: Governance, risks, and rules at the beginning of the pandemic

2020 ◽  
Vol 10 (2) ◽  
pp. 4-6
Author(s):  
Nadia Cipullo
Keyword(s):  
European Union ◽  
Financial Markets ◽  
Financial Reporting ◽  
Business Continuity ◽  
The European Union ◽  
Fund Management ◽  
Continuity Planning ◽  
The World ◽  
Market Situation ◽  
Emergency Measures

A premise of this issue seems appropriate. The coronavirus epidemic has caused an abrupt economic and social disruption and markets are reacting accordingly. Many economies around the world could suffer from falling GDP, due to growing lockdown measures and the millions of people absent from work, the closure of schools and thousands of restaurants and other closed businesses. Therefore, financial markets are experiencing levels of extreme volatility, while investors are grappling with the various consequences that this virus could bring with it. In this regard, on March 11th, 2020 the European Securities and Market Authority (ESMA) published recommendations addressed to participants in the financial markets, precisely in consideration of the spread of COVID-19 and the related impacts on the European Union economy (ESMA, 2020). In particular, after examining the market situation and the emergency measures adopted by the various participants in the financial markets, ESMA made 4 recommendations on the following areas: 1) business continuity planning; 2) market disclosure; 3) financial reporting; 4) fund management.

scholarly journals EUROPEAN EXPERIENCE OF FINANCIAL MARKETS REGULATION AND OPPORTUNITIES FOR ITS APPLICATION IN RUSSIA

2013 ◽  
pp. 267-274
Author(s):  
R. A. Kasyanov
Keyword(s):  
European Union ◽  
Central Bank ◽  
Financial Markets ◽  
Large Scale ◽  
Financial Regulation ◽  
Professional Community ◽  
Regulatory Reform ◽  
The European Union ◽  
Eu Member States ◽  
Future System

Large-scale improvement is in store for the European financial regulators. Reforms are being carried out at the supranational level of the European Union whereas the national legislation of the EU member-states is being refined. Similarly, the system of financial regulation in the Russian Federation is about to change prompting creation of a mega-regulator for the financial market on the basis of the RF Central Bank to be launched in August of 2013 with the regulation and supervision shared by the RF Ministry of Finance and Central Bank respectively. As a result, the current regulator, Federal Financial Markets Service, will be abolished with its staff to be employed by the Central Bank. Whether the initiative will be successful depends on a number of factors, among them appropriate application of existing regulation models taking into account the following aspects: participation/non-participation of the market and professional community in the regulation; the subject and the field of regulation. Scrutiny of the European regulators active at the level of the European Union, as well as the national experience of the financial regulators of Luxemburg and Belgium gives a better insight into the prospects of the regulatory reform that is supposed to make the future system intelligible, lucid and self-sufficient, which should be reflected in the underlying legislation.

scholarly journals Corporate Governance: Is It Time For Global Standards?

2011 ◽  
Vol 7 (2) ◽  
Author(s):  
Peter A. Stanwick
Keyword(s):  
United States ◽  
European Union ◽  
Corporate Governance ◽  
Financial Markets ◽  
Focal Point ◽  
Action Plan ◽  
Cultural Beliefs ◽  
The United States ◽  
The European Union ◽  
Governance System

Financial markets depend on the integrity of the financial information generated by management. In order for that integrity to be ensured, an effective corporate governance system must be in place by the corporation. While the United States has been the initial focal point on the effectiveness of corporate governance through the actions at Enron and WorldCom, European companies such as Ahold, Parmalat and Adecco have also demonstrated that the European Union faces challenges pertaining to corporate governance. The purpose of this paper is to compare how the United States and the European Union address the issue of corporate governance. The paper will examine and compare the Sarbanes-Oxley Act in the United States, the European Commissions Action Plan on corporate governance and the new corporate governance guidelines issues by the Organization for Economic Cooperation and Development. The paper will conclude with a discussion on whether global corporate governance standards are necessary to ensure the stability of global financial markets. The author will argue that certain core standards are universal in nature. However, flexibility is still warranted in some areas due to specific cultural beliefs and established business standards.

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