The Single Supervisory Mechanism (SSM) is widely acknowledged as being a milestone towards the creation of an effective transnational supervision in the Euro Area. Yet the SSM is far from being perfect. The European Central Bank (ECB), which is tasked with the supervision of all significant...

Over the past decade, cost-benefit analysis in the field of financial regulation (“financial CBA”) has emerged as a topic of intense public interest. In reviewing rulemakings under the Administrative Procedure Act, courts have demanded greater rigor in the financial CBA that regulators...

This paper is the national report for Germany prepared for the to the 20th General Congress of the International Academy of Comparative Law 2018 and gives an overview of the regulation of crowdfunding in Germany and the typical design of crowdfunding campaigns under this legal framework. After a...

The recent financial crisis has led many to question how well businesses deliver consumer financial services and how well regulatory institutions address problems in consumer financial markets. In response, the Obama administration proposed a new agency to oversee consumer financial services,...

Forced arbitration clauses have become almost unavoidable in contracts for financial services and products ranging form credit cards to private student loans. This report examines how the financial services industry uses these clauses to defeat consumers' rights and evade accountability for...

This article addresses emerging gaps in consumer protection. Insurers, like companies in other industries, are revolutionizing their practices with artificial intelligence and big data. Insurers are finding new ways to price risks and policies, tailor coverage, offer advice to purchasers,...

European legislation for the prudential regulation of insurance and reinsurance sector has existed since the 1970s, gradually materialized in Directive 92/49/EEC and Directive 2002/83/EC, both known as Solvency I. Due to economic and political development the regime become insufficient and...

The development of international norms for insurance has not progressed as far or as deeply as the development of international norms for banking. Several factors have affected this process. First, the efforts to develop such norms are relatively new. The International Association of Insurance...

The purpose of this study is to assess the need for additional regulation and regulatory resources to address Big Data applications in insurance. I find the current regulatory framework is well-suited to address Big Data concerns. Moreover, with cooperation between insurers and regulators, the...

This Report support's the position by the ABA TIPS Task Force on Federal Involvement in Insurance Regulation Modernization that the Terrorism Risk Insurance Act (TRIA) should be renewed. Although the market for terrorism insurance has developed with the support of TRIA, the fundamental nature of...