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Brexit and Financial Regulation

Brexit and Financial Regulation

  • 作者:
  • 出版商: Oxford University Press
  • ISBN: 9780198840794
  • 出版时间 January 2020
  • 规格: Paperback
  • 适应领域: U.K. ? 免责申明:
    Countri(es) stated herein are used as reference only

List Price: ¥825.38

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  • 描述 
  • 大纲 
  • 详细

    Brexit will have a significant impact on the UK financial services system. This book provides guidance on the complexity of Brexit as it applies to financial institutions through the eyes of leading lawyers. It covers issues of market access, transposition of directly applicable regulation, the assumption of roles carried out by the European Supervisory Authorities ('ESA'), and the impact on cross-border contracts. Brexit and Financial Regulation navigates the future of the EU and UK's approach to bank and investment firm authorisation, the EU concept of equivalence and changes to key pieces of EU legislation. It identifies which pieces of EU legislation contain equivalence provisions and describes the equivalence process. It considers issues relating to characteristic performance, dealing with the test of where services are actually carried out in the EU.

    The book addresses communications from the EU institutions on the approach to be taken regarding the authorisation of banks and investment firms in the EU27. Of particular importance is consideration of the opinions issued in 2017 by the European Banking Authority and the European Securities and Markets Authority. This analysis also includes a review of the approach taken by key EU27 jurisdictions such as Germany, France, and the Netherlands.

    Crucially, the work considers the position of HM Treasury, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) in taking on the roles of the ESAs, and how highly technical and detailed EU regulatory technical standards and ESA guidance will be transposed into the PRA Rulebook and FCA Handbook. It covers the European Union (Withdrawal) Act 2018 and relevant changes to financial services legislation. The Overseas Persons Exclusion contained in the Regulated Activities Order is also discussed.

    The book also examines the role of international regulatory bodies and international standards. These international standards and agreements have been implemented in EU legislation such as the Capital Requirements Directive IV and the Capital Requirements Regulation. The development of international regulation and the UK's influence on it are important components in the post Brexit landscape. Breaking Brexit issues into accessible, structured chapters, leading practitioners from across the City of London unpack legal complexities, sharing a wealth of experience. This is a timely and invaluable work for all those advising or dealing with financial institutions in the UK and the EU.

  • 1: Introduction, Jonathan Herbst, Simon Lovegrove

    Part 1: International standards and equivalence
    2: International standards, Michael Raffan
    3: EU equivalence regime, Arun Srivastava

    Part 2: The supervisory regime in the Brexit landscape
    4: EU approach to authorisation, Daniel Carall-Green
    5: EU27 approach to authorisation, Michael Born, Roberto Cristofolini, Floortje Nagelkerke, Donnacha O'Connor
    6: The UK supervisory regime in the post Brexit environment, Michael Thomas
    7: PRA approach to the authorisation of international branches and subsidiaries, Clive Cunningham
    8: The impact of the UK senior managers' regime, Charlotte Henry

    Part 3: Brexit and financial services legislation
    9: Markets in Financial Instrument Directive II (MiFID II) / Markets in Financial Instruments Regulation (MiFIR), Nico Leslie, Aaron Taylor
    10: Capital Requirements Directive IV (CRD IV) / Capital Requirements Regulation (CRR), Stuart Willey
    11: Bank Recovery and Resolution Directive (BRRD), Jan Putnis
    12: European Markets Infrastructure Regulation (EMIR) and euroclearing, Bob Penn
    13: Benchmarks Regulation (BMR), Michael Thomas
    14: Alternative Investment Fund Managers Directive (AIFMD), Jake Green
    15: Solvency II Directive (Solvency II), Bob Haken, Isabella Jones

    Part 4: Conclusion
    16: Conclusion, Jonathan Herbst, Simon Lovegrove

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