Equivalence in Financial Services: A Legal and Policy Analysis

ISBN-13: 9783030992682 / Angielski / Twarda / 2022

Francesco Pennesi

Opis

Equivalence in Financial Services offers a comprehensive and cross-industry examination of the rules and procedures under EU financial legislation dedicated to third-country market actors. The equivalence regime has become particularly topical after Brexit, as the United Kingdom is now a third country from the perspective of the European Union. This book investigates whether the current equivalence system is fit for its purpose, namely facilitating cross-border finance while minimizing as extensively as possible financial risks. After describing how the European Commission adopts equivalence measures, the book examines the implementation of the equivalence regime for the following entities: Credit Rating Agencies, Benchmarks, Trading Venues, Investment Firms, Investment Funds, Central Securities Depositories, Trade Repositories, and Central Counterparties. Addressing the most recent policy and legal developments, Equivalence in Financial Services provides an insightful guide into this complex area of financial regulation for scholars of financial regulation, legal practitioners, and policy makers. 

Spis treści

Chapter 1: Introduction.- Part 1: The Regulation of Cross-Border Finance.- Chapter 2: Financial Regulation and Systemic risk.- Chapter 3: The Regulation of Globalized Finance.- Part 2: Cross-Border Regulation in the EU: The Passport and the Equivalence Regime.- Chapter 4: The Passport Regime.- Chapter 5: The EU Equivalence Regime: Financial Regulation between the EU and Third Countries. - Part 3: The Regulation of Cross-Border Finance.- Chapter 6: Evaluating the Effectiveness of Equivalence: towards an Analytical Framework.- Chapter 7: A Cross-Industry Analysis of EU Equivalence Frameworks. Are they Effective?.- Chapter 8: The Equivalence Framework for Central Counterparties. EU Regulation and Supervision.- Chapter 9: A Proposal to Reform the EU Equivalence Regime.

O autorze

Francesco Pennesi is a researcher at the Erasmus School of Law and an Italian qualified attorney specialized in financial regulation and supervision. He defended his Phd (Marie Curie Fellowship) at Erasmus University Rotterdam. His work has been published on Perspectives on Federalism, European Papers, and the Common Market Law Review.

Blurb

Equivalence in Financial Services offers a comprehensive and cross-industry examination of the rules and procedures under EU financial legislation dedicated to third-country market actors. The equivalence regime has become particularly topical after Brexit, as the United Kingdom is now a third country from the perspective of the European Union. This book investigates whether the current equivalence system is fit for its purpose, namely facilitating cross-border finance while minimizing as extensively as possible financial risks.

After describing how the European Commission adopts equivalence measures, the book examines the implementation of the equivalence regime for the following entities: Credit Rating Agencies, Benchmarks, Trading Venues, Investment Firms, Investment Funds, Central Securities Depositories, Trade Repositories, and Central Counterparties. Addressing the most recent policy and legal developments, Equivalence in Financial Services provides an insightful guide into this complex area of financial regulation for scholars of financial regulation, legal practitioners, and policy makers.

Francesco Pennesi is a researcher at the Erasmus School of Law and an Italian qualified attorney specialized in financial regulation and supervision. He defended his Phd (Marie Curie Fellowship) at Erasmus University Rotterdam. His work has been published on Perspectives on Federalism, European Papers, and the Common Market Law Review.