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The UK and Multi-level Financial Regulation

2020-02-06 Political Science
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Release : 2020-02-06
Genre : Political Science
Kind : eBook
Book Rating : 20X/5 ( reviews)

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Book Synopsis The UK and Multi-level Financial Regulation by : Scott James

Download or read book The UK and Multi-level Financial Regulation written by Scott James. This book was released on 2020-02-06. Available in PDF, EPUB and Kindle. Book excerpt: The UK and Multi-level Financial Regulation examines the role of the United Kingdom (UK) in shaping post-crisis financial regulatory reform, and assesses the implications of the UK's withdrawal from the European Union (EU). It develops a domestic political economy approach to examine how the interaction of three domestic groups - elected officials, financial regulators, and the financial industry - shaped UK preferences, strategy, and influence in international and EU-level regulatory negotiations. The framework is applied to five case studies: bank capital and liquidity requirements; bank recovery and resolution rules; bank structural reforms; hedge fund regulation; and the regulation of over-the-counter derivatives. It concludes by reflecting on the future of UK financial regulation after Brexit. The book argues that UK regulators pursued more stringent regulation when they had strong political support to resist financial industry lobbying. UK regulators promoted international harmonisation of rules when this protected the competitiveness of industry or enabled cross-border externalities to be managed more effectively; but were often more resistant to new EU rules when these threatened UK interests. Consequently, the UK was more successful at shaping international standards by leveraging its market power, regulatory capacity, and alliance building (with the US). But it often met with greater political resistance at the EU level, forcing it to use legal challenges to block reform or secure exemptions. The book concludes that political and regulatory pressure was pivotal in defining the UK's 'hard' Brexit position, and so the future UK-EU relationship in finance will most likely be based on a framework of regulatory equivalence.

Brexit and Financial Regulation

2020 Law
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Release : 2020
Genre : Law
Kind : eBook
Book Rating : 794/5 ( reviews)

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Book Synopsis Brexit and Financial Regulation by : Jonathan Herbst

Download or read book Brexit and Financial Regulation written by Jonathan Herbst. This book was released on 2020. Available in PDF, EPUB and Kindle. Book excerpt: Brexit will have a significant impact on the UK financial services system. This book provides guidance on the complexity of Brexit as it applies to financial institutions through the eyes of leading lawyers. It covers issues of market access, transposition of directly applicable regulation,the assumption of roles carried out by the European Supervisory Authorities ("ESA"), and the impact on cross-border contracts. Brexit and Financial Regulation navigates the future of the EU and UK's approach to bank and investment firm authorisation, the EU concept of equivalence and changes to keypieces of EU legislation. It identifies which pieces of EU legislation contain equivalence provisions and describes the equivalence process. It considers issues relating to characteristic performance, dealing with the test of where services are actually carried out in the EU.The book addresses communications from the EU institutions on the approach to be taken regarding the authorisation of banks and investment firms in the EU27. Of particular importance is consideration of the opinions issued in 2017 by the European Banking Authority and the European Securities andMarkets Authority. This analysis also includes a review of the approach taken by key EU27 jurisdictions such as Germany, France, and the Netherlands.Crucially, the work considers the position of HM Treasury, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) in taking on the roles of the ESAs, and how highly technical and detailed EU regulatory technical standards and ESA guidance will be transposed into the PRARulebook and FCA Handbook. It covers the European Union (Withdrawal) Act 2018 and relevant changes to financial services legislation. The Overseas Persons Exclusion contained in the Regulated Activities Order is also discussed.The book also examines the role of international regulatory bodies and international standards. These international standards and agreements have been implemented in EU legislation such as the Capital Requirements Directive IV and the Capital Requirements Regulation. The development of internationalregulation and the UK's influence on it are important components in the post Brexit landscape. Breaking Brexit issues into accessible, structured chapters, leading practitioners from across the City of London unpack legal complexities, sharing a wealth of experience. This is a timely and invaluablework for all those advising or dealing with financial institutions in the UK and the EU.

Brexit and Financial Services

2018-01-11 Law
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Release : 2018-01-11
Genre : Law
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Book Rating : 818/5 ( reviews)

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Book Synopsis Brexit and Financial Services by : Kern Alexander

Download or read book Brexit and Financial Services written by Kern Alexander. This book was released on 2018-01-11. Available in PDF, EPUB and Kindle. Book excerpt: This timely book examines the legal and regulatory implications of Brexit for financial services. The UK's withdrawal from the EU is likely to have significant market, political, and policy consequences for the UK financial system, for the single market and the euro area, and for the international financial system. As the UK disentangles its financial system from the EU, law will matter to a profound extent. Treaties, legislation, and regulation, at UK, EU, and international levels, and the many dynamics and interests which drive them, will frame and shape the ultimate settlement between the UK and the EU. Law will also shape how the EU financial system develops post-Brexit and how the international financial system responds. Written by leading authorities in the field, this book addresses and contextualises the legal, regulatory, and policy issues across five dimensions, which correspond to the major legal spheres engaged: financial regulation implications and market access consequences for the UK financial system; labour law and free movement consequences for the UK financial system; the implications internally for EU financial governance and the euro area; the implications and relevance of the EEA/EFTA financial services market; and the trade law and World Trade Organization law implications.

Banking Law and Financial Regulation in the UK and EU

2024-06-28 Law
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Release : 2024-06-28
Genre : Law
Kind : eBook
Book Rating : 143/5 ( reviews)

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Book Synopsis Banking Law and Financial Regulation in the UK and EU by : Pierre de Gioia Carabellese

Download or read book Banking Law and Financial Regulation in the UK and EU written by Pierre de Gioia Carabellese. This book was released on 2024-06-28. Available in PDF, EPUB and Kindle. Book excerpt: Banking Law and Financial Regulation in the UK and EU seeks to blend orthodox topics covered within the banking and financial law syllabus, such as sources of banking and financial law, financial markets, financial and banking institutions, financial transactions, and banking and financial insolvency, with a careful analysis of emerging issues and more contemporary topics. This advanced-level textbook offers a new format for the study of banking and financial law, placing it within the wider context of economic development. As such, two elements are integral to this new methodology: the rise of techno-banking and digitalisation of the financial sector, and Brexit. Departing from the approaches of more traditional textbooks in this area, the book also takes a comparative approach to UK and EU banking law, highlighting the legal consequences of the UK’s exit from the EU. Aspects of human rights are integrated throughout and current debates and developments around financial crises – the advancement of technological innovations in the banking sector and contemporary topics, such as health crises, energy, and ESG and the environment – is taken into account to provide the reader with the opportunity to develop their own autonomous and broader understanding of the various concepts. Banking Law and Financial Regulation in the UK and EU will be a valuable text for students taking advanced undergraduate and postgraduate-level courses in banking law and financial law, as well as practising lawyers, managers and accountants.

Principles of Banking Regulation

2019-06-06 Business & Economics
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Release : 2019-06-06
Genre : Business & Economics
Kind : eBook
Book Rating : 26X/5 ( reviews)

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Book Synopsis Principles of Banking Regulation by : Kern Alexander

Download or read book Principles of Banking Regulation written by Kern Alexander. This book was released on 2019-06-06. Available in PDF, EPUB and Kindle. Book excerpt: Analyses banking regulation and recent international developments, including Basel IV, bank resolution and Brexit, and their impact on bank governance.

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