The EC Directive on financial instruments markets 2004 (MiFID) has introduced a number of order and trade publication obligations imposed on organised exchanges, alternative trading systems (ATS), and the class of broker dealers that execute transactions in shares internally. This article...

Bank Resolution Plans (Living Wills) should help with the resolution of systemically important financial institutions (SIFIs) in distress. They should be used to clarify and simplify the legal structure and make it commensurate with the functional business lines of the institution. Living Wills...

Living Wills should help the resolution of a cross-border financial institution in difficulties by clarifying and simplifying the legal structure, and making that legal structure commensurate with the functional business parts of the wider institution. An innovation could be to incorporate a...