This paper examines the European Community’s regulatory regime for insurance with a view to current efforts to achieve a greater degree of market liberalisation on the global level. It draws on Peter Holmes’ and Alasdair Young’s argument that the EU has pioneered trade liberalisation in a...

This chapter asks why and how services that are not previously thought of as tradable have increasingly been opened up to international competition in EU member states including even in Germany. The chapter contrasts an explanation that focuses on the impact of economic interests with an...

[From the Introduction]. This paper reviews single market regulation, with particular reference to the financial sector and uses this as a foundation to consider the process whereby a European market is developing. Unlike much previous analysis which has emphasized the role of state interests...

This ECMI Policy Brief attempts to contribute to the ongoing policy debate on MiFID art. 65.1, which tasks the Commission with conducting a study to report on whether the trade transparency requirements that currently apply to share trading ought to be extended to non-equity markets. It presents...

As the European Commission is currently in the process of preparing its White Paper on the enhancement of the EU framework for investment funds (scheduled for November 2006), now is a good time to reflect on whether the UCITS framework needs a radical overhaul if the regulatory landscape is...

The report provides evidence of low protection of companies against the risks of the lack of payment from their buyers and the impact of bad debts in their financial situation, which is especially harmful for SMEs. While most of commercial trade is carried out on the basis of credit, the...

Public authorities overseeing the International Financial Reporting Standards (IFRS) Foundation, through the Monitoring Board in place sinceearly 2009, should encourage the Foundation to make itself more directlyaccountable to the global investment community. The Monitoring Board should...

This paper outlines the changing financial scene in The Czech Republic, which is following the global pattern of institutional investors taking over the role of commercial banks as relationship banking is gradually giving way to transaction-driven banking. Investment-grade companies have become...

This report surveys recent empirical research on the state and development of retail banking integration in Europe. It finds a broad consensus that retail banking integration is still limited, although integration seems to have gained momentum more recently. At the same time, the survey finds...