Investigating business models and merger control in the US and the EU

2021 ◽  
pp. 119-164
Author(s):  
Evgenia Kanellopoulou
Keyword(s):  
Business Models ◽  
Merger Control ◽  
The Us ◽  
The Eu

The EU Response to Criminal Misuse of Cryptocurrencies: The Young, already Outdated 5th Anti-Money Laundering Directive

2020 ◽  
Vol 28 (3) ◽  
pp. 217-251
Author(s):  
Valentina Covolo
Keyword(s):  
Money Laundering ◽  
Business Models ◽  
International Standards ◽  
Present Contribution ◽  
The Core ◽  
Cross Border ◽  
The Us ◽  
New Business ◽  
New Business Models ◽  
The Eu

Abstract Combatting criminal misuse of cryptocurrencies was at the core of the fatf agenda under the US Presidency, culminating in June 2019 with the thorough extension of international standards against money laundering over virtual assets’ markets. This echoed the first legislative measure regulating virtual currencies adopted by the EU a year before. Directive 2018/843, better known as the 5th Anti-Money Laundering Directive, fails however to address key technological breakthroughs and new business models, which continuously make the ever-growing and fast-paced crypto economy evolve. Against this background, the present contribution investigates shortfalls and challenges that lay ahead in the light of the new fatf Recommendations. It ultimately argues that the preventive anti-money laundering measures cannot dispense with the establishment of a cross-border integrated supervisory and enforcement system.

scholarly journals Shadow Banking in Europe: Idiosyncrasies and their Implications for Regulation

2019 ◽  
Vol 10 (4) ◽  
pp. 781-810 ◽  
Author(s):  
Hossein NABILOU ◽  
André PRÜM
Keyword(s):  
Market Structure ◽  
Driving Force ◽  
Business Models ◽  
Banking System ◽  
Shadow Banking ◽  
Regulatory Frameworks ◽  
Money Market Funds ◽  
The Us ◽  
Shadow Banking System ◽  
The Eu

This paper studies the specificities of shadow banking in Europe. It highlights striking differences between the EU and the US shadow banking sectors based on both market structure and legal micro-infrastructure of the shadow banking sectors in these two jurisdictions. It argues that these different institutional and legal infrastructures, as well as the different trajectories in the evolution of the shadow banking sectors in terms of business models, size and composition of actors and transactions, can be the driving force behind the differential regulatory treatment of shadow banking across the Atlantic. In highlighting such differences, this paper focuses on repo transactions, as the main instruments that play a significant role in credit intermediation outside the regulatory perimeter of the banking system. It then discusses money market funds and highlights differences in their structure, functioning, and their existing regulatory treatment. The paper concludes that the market structure, business models, and legacy legal and regulatory frameworks of shadow banking display substantial differences across the Atlantic. The findings in this paper rally against one-size-fits-all approaches to addressing the problems of the shadow banking system worldwide and recommends differentiated and more nuanced regulatory approaches to regulating shadow banking across the Atlantic.

scholarly journals Digitale Marktmacht

2019 ◽  
Author(s):  
Maximilian Volmar
Keyword(s):  
Business Models ◽  
Competition Law ◽  
Political Influence ◽  
The Internet ◽  
Dominant Position ◽  
Digital Platforms ◽  
The Us ◽  
Definition Of ◽  
A Company ◽  
The Eu

The ascending economic and political influence of the internet platforms of the 21st century has sparked a debate about the adequate regulation of these “tech titans”. At the heart of this discussion is competition law – the field of law that was created to tame dominant companies. But when does a company truly hold such a “dominant position”? The definition of this fundamental competition law term faces numerous challenges when applied to digital platforms, from zero-price markets to the multi-sidedness of business models. This book dismantles the term into its components and shows where the methodology needs to adapt to the digital economy. In doing so, it considers the legal regimes of Germany, the EU and the US, as well as findings from legal economics.

The European Commission's Extraterritorial Powers in Merger Control

2000 ◽  
Vol 49 (1) ◽  
pp. 172-182 ◽  
Author(s):  
Morten P. Broberg
Keyword(s):  
Competition Law ◽  
Merger Control ◽  
The Us ◽  
Heated Debate ◽  
The Eu

Within the field of competition law the question of jurisdiction is able to ignite an extremely heated debate. For example, when the American company Boeing decided to acquire the American company McDonnel Douglas both the US and the EU competition authorities engaged in an investigation of the transaction. The fact that the Community commenced an investigation, and even appeared to consider a prohibition, of the merger caused an uproar amongst some American politicians. These politicians claimed that the merger was a purely American matter and that the Community's competition authorities had no jurisdiction over the merging parties.

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