Full Description
Capital Markets Union in Europe analyses the legal and economic implications of the European Commission's plans to form a Capital Markets Union (CMU) in Europe, which will have a major impact on financial markets and institutions both in the region and beyond.
A detailed introductory chapter provides a broad overview of the various aspects and challenges of the CMU proposals, whilst thematically grouped chapters cover the following areas: (i) general aspects, (ii) Brexit, (iii) financing innovation, (iv) raising capital on the capital markets, (v) fostering retail and institutional investment, (vi) leveraging banking capacity to support the wider economy, (vii) facilitating cross-border investing, and (viii) comparative aspects of capital market integration.
Written by world renowned experts in the fields of banking and capital markets, including respected academics, with broad practical experience, and leading practitioners, Capital Markets Union in Europe provides high-quality analysis of the legal and economic issues in a practical context.
Contents
General Aspects
1: Danny Busch, Emilios Avgouleas & Guido Ferrarini: Capital Markets Union after Brexit
2: Diego Valiente: CMU and the Deepening of Financial Integration
3: Danny Busch: A Stronger Role for the European Supervisory Authorities in the EU27
4: Emilios Avgouleas & Guido Ferrarini: The Future of ESMA and a Single Listing Authority and Securities Regulator for the CMU: Costs, Benefits and Legal Impediments
Brexit
5: Eddy Wymeersch: Some Apects of the Impact of Brexit in the Field of Financial Services
6: Niamh Moloney: Capital Markets Union, Third Countries and Equivalence: Law, Markets and Brexit
7: Guido Ferrarini & Davide Trasciatti: OTC Derivatives Clearing, Brexit and the CMU
Financing Innovation, Start-Ups, Non-Listed Companies and Infrastructure Projects
8: Emilios Avgouleas: The Role of Financial Innovation in EU Market Integration and the Capital Markets Union: A Re-conceptualisation of Policy Objectives
9: Erik Vermeulen: Capital Markets Union: Why 'Venture Capital' is not the Answer to Europe's Innovation Challenge
10: Guido Ferrarini & Eugenia Macchiavello: FinTech and Alternative Finance in the CMU: The Regulation of Marketplace Investing
Raising Capital on the Capital Markets
11: Bas de Jong & Thomas Arons: Modernising the Prospectus Directive
12: Andrea Perrone: Small and Medium Enterprises Growth Markets
13: Merritt Fox: Initial Public Offerings in the CMU: A U.S. Perspective
14: Frank Graaf: Private Placements in the Capital Markets Union: A Priority Moving in Reverse?
15: Paul Davies: Damages Actions by Investors on the Back of Market Disclosure Requirements
Fostering Retail and Institutional Investment
16: Veerle Colaert: Building Blocks of Investor Protection: All-Embracing Regulation Tightens its Grip
17: Mark Heemskerk, René Maatman & Bas Werker: A Policy Framework for European Personal Pensions
18: Zsolt Darvas & Dirk Schoenmaker: Institutional Investors and Development of Europe's Capital Markets
19: Matteo Gargantini, Carmine di Noia & Georgios Dimitropoulos: Cross-border Distribution of Collective Investment Products in the EU
Leveraging Banking Capacity to Support the Wider Economy
20: Bart Joosen & Kitty Lieverse: Relief from Prudential Requirements to Support the Capital Markets Union
21: Gerard Kastelein: Securitisation in the Capital Markets Union: One Step Forward, Two Steps Back
22: Steven Schwarz: A Global Perspective on Securitised Debt
Facilitatiting Cross-Border Investing
23: Alessio Pacces: Shareholder Activism in the CMU
24: Bas Zebregs & Victore de Serière: Efforts to Strengthen the Clearing and Settlement Framework of the Capital Markets Union
25: Michael Veder & Anne Mennens: Preventive Restructuring Frameworks
26: Loredana Carpentieri & Stefano Micossi: Removing Cross-Border Tax Barriers
