Derivatives Regulation: Rules and Reasoning from Lehman to Covid, Murphy D.
Автор: Arias-Barrera, Ligia Catherine Название: Regulation and supervision of the otc derivatives market ISBN: 1138634786 ISBN-13(EAN): 9781138634787 Издательство: Taylor&Francis Рейтинг: Цена: 22202.00 р. Наличие на складе: Поставка под заказ.
Описание:
The over-the-counter (OTC) derivatives market has captured the attention of regulators after the Global Financial Crisis due to the risk it poses to financial stability. Under the post-crisis regulatory reform the concentration of business, and risks, among a few major players is changed by the concentration of a large portion of transactions in the new market infrastructures, the Central Counterparties (CCPs).
This book, for the first time, analyses the regulatory response of the United Kingdom and the United States, the two largest centres of OTC derivatives transactions, and highlights their shortcomings. The book uses a normative risk-based approach to regulation as a methodological lens to analyse the UK regime of CCPs in the OTC derivatives market. It specifically focuses on prudential supervision and conduct of business rules governing OTC derivatives transactions and the move towards enhancing the use of central clearing. The resulting analysis, from a normative risk based approach, suggests that the UK regime for CCPs does not fulfil what would be expected if a coherent risk based approach was taken.
Our comments on the Dodd-Frank Act highlight that the incoherent adoption of risk-based approach to regulation affects the effectiveness of the US regime for CCPs. Such a regime does not follow the pace of events of 'innovation risk'. In particular, the foreseeable changes FinTech will bring to the OTCDM and central clearing services. The second inadequacy of the US regime concerns the dual regulatory structure of the CFTC and the SEC, and the inadequate adoption of different and not well-coordinated regulatory strategies. We also analyse the cross-border implications of the US regime for non-US CCPs that provide clearing services to US market participants. Finally, we study the negative effects of the absence of a clearly defined resolution regime for CCPs.
Описание: This volume serves as a federal securities laws supplement, providing selected statutes, rules, and forms. It is the most complete supplement available and is regularly updated and revised.
Описание: The markets for derivatives are extremely important to the financial system, yet many people are unfamiliar with their influence on the global economy. Demystifying these markets, Gregory Scopino explores how the dramatic transition from human-centered trading to automated systems and artificial intelligence poses challenges to market oversight.
Автор: John Coffee, Hillary Sale, Matthew Henderson Название: Federal Securities Laws: Selected Statutes, Rules and Forms ISBN: 1683288025 ISBN-13(EAN): 9781683288022 Издательство: Mare Nostrum (Eurospan) Рейтинг: Цена: 13167.00 р. Наличие на складе: Нет в наличии.
Описание: Serves as a federal securities laws supplement, providing selected statutes, rules, and forms. This is the most complete supplement available and is regularly updated and revised. Contents include the Securities Act of 1933, Security Exchange Act of 1934, Investment Company Act of 1940, Investment Advisers Act of 1940, and related federal laws.
Автор: Federico Della Negra Название: MiFID II and Private Law: Enforcing EU Conduct of Business Rules ISBN: 1509925295 ISBN-13(EAN): 9781509925292 Издательство: Bloomsbury Academic Рейтинг: Цена: 15048.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: In the wake of the global financial crisis, investors have suffered significant losses as a result of breaches of conduct of business rules in the distribution of financial instruments. MiFID II introduced new disclosure, distribution and product governance rules to strengthen the protection of investors but, like MiFID I, did not harmonise the civil law consequences for their violation. This book asks whether, in spite of the silence of the EU legislators, the MiFID II conduct of business rules may produce civil law effects, enabling investors to enforce them against investment firms before national courts and alternative dispute resolution (ADR) mechanisms. Building on the case law of the CJEU, the book shows the conditions under which the breach of MiFID II conduct of business rules should give rise to a private law remedy, and what remedies would be compatible with EU law. MiFID II and Private Law is an essential contribution to academic research in EU and financial law and will be a key text for policy-makers and legal practitioners working in the field of investor protection regulation and mis-selling litigation.
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