Full Description
Comparative Financial Regulation investigates the key drivers of divergence and convergence in financial regulation and analyses the consequences in terms of market efficiency, investor protection and financial stability. It adopts a broad view of the financial system and promotes a functional understanding of the regulation of securities markets, banks, derivatives and payments.
Emphasising the importance of a comparative approach to financial regulation, contributing authors present critical examinations across a variety of national jurisdictions in Asia, the Americas and Europe, going beyond the black-letter comparison of different national regulatory regimes. They present a comprehensive overview of how the level of cross-border convergence and divergence varies across sectors of the financial system. Chapters cover the latest regulatory developments related to blockchain and sustainable finance, and explore how sectors of the financial system are adapting to current challenges, such as geopolitical risk, climate change and cyber warfare.
Providing analytical tools to understand and interpret financial regulation, this Research Handbook is invaluable to students and academics in comparative law, finance and banking law, financial economics, and regulation and governance. It is also an important resource for practitioners in the field.
Contents
Contents
Preface xiii
PART I INTRODUCTION
1 An analytical framework 2
Edoardo D. Martino, Hossein Nabilou and Alessio M. Pacces
2 History and convergence of financial regulation 19
Katarzyna Parchimowicz
3 The institutional architecture of financial regulation and supervision 39
Menelaos Markakis
PART II REGULATION OF FINANCIAL MARKETS
4 Mandatory disclosure 56
Matteo Gargantini
5 Conduct of business rules 73
Sergio Gilotta
6 Market integrity and insider trading 89
Ana Taleska
7 Securities markets regulation 103
Lauren Yu-Hsin Lin
8 Investment fund regulation 119
Ugo Malvagna
9 Investment platforms regulation 135
Eugenia Macchiavello
PART III REGULATION OF FINANCIAL INSTITUTIONS
10 Microprudential regulation 155
Lucrezia Cipriani and Andrea Minto
11 Macroprudential regulation 172
Luca Amorello
12 Corporate governance of banks 191
Katrien Morbee
13 Recovery and resolution of banks 206
Shuai Guo
14 Regulation of financial collateral 223
Hossein Nabilou
15 Regulation of clearing and settlement 239
Paolo Saguato
16 Regulation of payment services 255
Phoebus L. Athanassiou
17 The law of central banking 272
Rosa Lastra
PART IV NEW FRONTIERS IN FINANCIAL REGULATION
18 Sustainability and securities market regulation 287
Youcef Rahmani
19 Sustainability and prudential banking regulation 302
Seraina Grünewald
20 Cryptocurrencies and stablecoins regulation 323
Edoardo D. Martino
21 Regulatory policies for crypto-asset offerings 340
Iris H.-Y. Chiu
Index 358
