The purpose of this paper is to compare the European Union (EU) and United States (U.S.) securities regulations. In November 2007, the market in financial instruments directive 2004/39/EC (MiFID) came into force in the EU, and brought about deep changes in the market infrastructure. The same...

First regulations of securities firms were going back to Banking Crisis emerging at early 1980's. The number of securities firms in Turkey were booming in the late 1980's and early 1990's but the sector has been shrinking as a trend in terms of number of the securities firms nearly more than a...

The Directive on Markets in Financial Instruments (MiFID 2004), adopted in 2004, brought about substantial changes in the market. Competition between trading venues has increased and a substantial portion of trade in financial instruments has moved from regulated markets to other trading venues....

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...