Over the last decades, banks, insurers, pension funds, investments firms and other financial institutions have become subject to sometimes dramatically new, but always substantially more legislation. This is especially true for the EU. Moreover, Brexit has already caused changes to key pieces of EU financial legislation, and its effects will most probably be become ever more significant in the years to come.
This book serves as a comprehensive introduction to European banking and financial law. The book is organized around the three economic themes that are central to the financial industry: (i) financial markets; (ii) banking and financial institutions; and (iii) financial transactions. It covers not only regulatory law, but also commercial law that is relevant for the most important financial transactions.
This second edition has been completely revised. The basic structure of the first edition has been maintained, but all chapters have been thoroughly rewritten and restructured. Attention is now also shed on topics such as shadow banking and credit rating agencies. As a matter of course, all new relevant legislation and case law has been included. Also, on the basis of real-life class-room experience, student questions and further reading suggestions have been updated and expanded.
1. Sources of EU financial law; 2. The primary market; 3. The secondary market; 4. Market abuse; 5. Consumer and Investor Protection; 6. Banking, EU supervision and bank structures; 7. Authorisation, capital requirements and governance rules; 8. Bank insolvency; 9. The investment firm and the investment fund; 10. Custody and transfer of cash and securities; 11. Loan finance; 12. Derivatives; 13. Collateralised Finance; 14. Structured finance; 15. Answers to questions