Europe's high pre-existing level of financial development can partly account for the relatively smaller reach of fintech payment and lending activities compared to some other regions. But fintech activity is growing rapidly. Digital payment schemes are expanding within countries, although...

In this Article we submit that the compensation structures at banks before the financial crisis were not necessarily flawed and that recent reforms in this area largely reflect already existing best practices. In Part I we review recent empirical studies on corporate governance and executive pay...

Key points:• This article considers how the recent market turmoil affected national banking systems, thereby prompting state measures;• It describes the remuneration problems shown by the financial crisis: rewards for failure; short-term behaviour; inappropriate design of performance...

Money laundering has become a phenomenon of financial market regulation. The obligation to identify the ultimate beneficiary, or the beneficiary owner, which need not be entirely synonymous terms, has been the focus for both national authorities and international organizations. However, such...

The AIFMD provides a harmonized European framework for regulating alternative investment funds. Prior to discussing its details, this chapter introduces to the AIFMD, discussing the developments that led to its adoption (Part 1), the AIFMD's principal objectives (Part 2) and its key tools for...

We examine the political dynamics which led to the codification of the Principles and Standards for sound compensation practices at financial institutions at international (G 20) level and to their subsequent implementation on both sides of the Atlantic. We show that the regulation of bankers'...

The paper outlines the developments in the EU regulatory framework for executive remuneration since 2004 and going through the financial crisis. It also presents the results of an analysis of the remuneration practices adopted by the largest European listed firms before and after the crisis,...

The Capital Markets Union (CMU) is one of the flagship policy initiatives of the Juncker Commission. The Commission's strategy for realizing a CMU is set out in its White Paper on building a CMU. Besides describing the Commission's vision of a CMU, the white paper includes an action plan which...

After Brexit, the UK will become a third country. In the absence of a transitional agreement, its access to the EU markets will be conditioned on meeting the condition of “equivalence of regulation and supervision” as laid down in many EU regulations. Although in substance the UK regulations...