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directors' responsibilities but has not reconciled those responsibilities with board functions and fiduciary law, at least in …
Persistent link: https://www.econbiz.de/10013099463
This paper discusses problems of harmonisation and regulation of the European Internal Financial Market. The argument …
Persistent link: https://www.econbiz.de/10013132861
European Commission's Draft Proposal to amend the EU-Rating Regulation, could possibly be eliminated by procedural presumptions …
Persistent link: https://www.econbiz.de/10013088984
rethinking of regulatory approaches. But the regulation of payment services defies this narrative. Its technology and business … payments ecosystem sort into technology and business-model neutral categories, each subject to roughly equivalent regulation …, in service of roughly equivalent objectives. That neutrality makes existing payments regulation more durable in the face …
Persistent link: https://www.econbiz.de/10012894467
In contrast to financial arbitrage, which causes prices of economically equivalent transactions to converge in the direction of one price, regulatory arbitrage does not lead to such price convergence. In contrast, regulatory arbitrage tends to produce two different prices for economically...
Persistent link: https://www.econbiz.de/10012869811
Many regulators have concluded that cost-benefit analysis is the best available method for capturing the welfare effects of regulations. It is therefore understandable that in recent years, some people have been interested in requiring financial regulators to engage in careful cost-benefit...
Persistent link: https://www.econbiz.de/10013054943
In recent years, financial regulators have come under increasing judicial scrutiny for conducting inadequate cost/benefit assessments in advance of significant reforms. One facet of this scrutiny is judicial skepticism towards the proper role for regulatory experimentation (and the real option...
Persistent link: https://www.econbiz.de/10013056218
This Essay discusses two historical parallels between the current financial crisis and the financial crisis of the late 1920s and 1930s. First, financial innovation was at the core of both crises. In particular, the machinations of Ivar Kreuger illuminate how financial innovation tends to...
Persistent link: https://www.econbiz.de/10013148212
models in one significant way: it considers the effect of regulation not only on the behavior of those subject to it … (potential wrongdoers), but also on the perceptions – and as a result, on the behavior – of those whom regulation seeks to … protect (potential victims).Normatively, the article challenges the view of regulation as a two-way tradeoff between …
Persistent link: https://www.econbiz.de/10013078335
capable of facilitating the performance of market forces. An outline is given of a general theory of private quality assurance … regulation is then situated in the context defined by the presence of these safeguard mechanisms. This helps in defining the … market. By making sense of the interaction between regulation, quality attributes and private safeguards, the analysis helps …
Persistent link: https://www.econbiz.de/10014130415