The Caribbean Community Council for Finance and Planning (COFAP) at its Twelfth meeting held in March 2008, decided that a major element of the integration programme for capital markets should be the formulation of a uniform securities law for adoption by Member States. At the meeting of COFAP,...

The objective of this study was to determine if the securities regulation in a foreign country is related to the earnings quality of European firms cross-listed in Europe. The study compared the post-listing earnings quality of 112 European firms cross-listed in 13 European stock exchanges...

This paper analyzes the financial regulatory structure of the US (federal level) from the point of view of information-flow. Two central discussions regarding regulation of the financial sector have been developing simultaneously: one regards the role of financial regulators in crisis prevention...

This article outlines the benefits and risks of the distributed ledger technology (DLT) for the clearing and settlement phase of the trade life cycle and describes its potential role for central counterparties and central securities depositories. Although the industry is attempting to solve the...

We examine the capital-market effects of changes in securities regulation in the European Union (EU) aimed at reducing market abuse and increasing transparency. To estimate causal effects for the population of EU firms, we exploit that for plausibly exogenous reasons, like national legislative...

We examine the capital-market effects of changes in securities regulation in the European Union (EU) aimed at reducing market abuse and increasing transparency. To estimate causal effects for the population of EU firms, we exploit that for plausibly exogenous reasons, like national legislative...

Although the EU has achieved an impressive degree of harmonization in the securities laws of its member states, it has not yet advanced any effective collective private remedies for violations of those securities laws. This is especially noteworthy since the U.S. Supreme Court's decision in...

Using high-frequency data from the European Climate Exchange (ECX), we examine the determinants of price impact of €21 billion-worth of block trades during 2008-2011 in the European carbon market. We find that wider bid-ask spreads and volatility are characterised by smaller price impact....

The paper analyses the current national and international regulatory regimes relevant for European banks, CSDs and ICSDs, and compares them with the requirements in order to answer the following questions: Is there any overlap between the provisions of the CPSS-IOSCO. Recommendations and the...