The rapid integration of capital markets under EMU has triggered a debate on the remaining barriers to a true single market. Some have argued the need for a 'European SEC' to help overcome these barriers. This would be a step too far, however. Not only is there first a need for more regulatory...

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