Full Description
This accessible work provides critical analysis and context to international capital markets, their regulation, and their institutions. It is written from a comparative and international perspective and analyses regulatory approaches in the US, UK, and EU, as well as smaller markets engaging in successful innovation.
International Capital Markets presents a comprehensive volume drawing the field of international capital markets regulation and institutions together, split into sections addressing the characteristics of capital markets, the basic principles of their regulation, and their institutions; the regulatory characteristics in significant markets including the US, UK, EU, and Asia, and examines how these interact with each other; market institutions, trading venues, and intermediaries; and the capital market activities of international financial institutions such as the IMF and The World Bank.
This second edition considers the impact of Brexit on capital markets in Europe and analyses developments in regulation and approach as a consequence of the shifting dynamics in the UK and EU markets. The activity and efficacy of regulators such as the European Securities and Markets Authority (ESMA) and International Organization of Securities Commission (IOSCO) are examined in the context of the EU and international markets respectively. In Asia, the capital markets have also seen many changes since the first edition, particularly in Hong Kong and China. These developments are analysed and the legal and practical implications are explained.
This single volume presents a conceptual overview of the regulatory landscape and an understanding of the background and operation of the non-domestic regulation in this area, making it a comprehensive yet accessible resource for practicing lawyers, bankers, regulators, academics, and postgraduate students interested in international capital markets.
Contents
Part I - International Capital Markets in Context
1: Introduction
2: Making International Markets Work - Regulatory Techniques
3: International Organizations and the Capital Markets
Part II - The Transatlantic Dialogue
4: The Parallel System - The United States
5: Cultivating the US Overseas Market
6: The United Kingdom - Gentlemanly Capitalism and the International Markets
7: The New European Capital Markets
Part III - Beyond the Transatlantic Corridor
8: China and Hong Kong - Competition and Symbiosis
9: Niche Markets and Their Lessons
10: The Paradoxes of Islamic Capital Markets
Part IV - Market Institutions and International Capital Markets
11: Stock Exchanges - An Endangered Species
12: Intermediaries - From Handmaiden to New Market
13: Conclusion
