Comparative Financial Regulation

Edited by Alessio M. Pacces, Professor of Law & Finance, Edoardo D. Martino, Assistant Professor of Law & Finance and Hossein Nabilou, Assistant Professor of Law & Finance, Amsterdam Center for Law & Economics, University of Amsterdam, the Netherlands

• ContentsPreface xiiiPART I INTRODUCTION1 An analytical framework 2Edoardo D. Martino, Hossein Nabilou and Alessio M. Pacces2 History and convergence of financial regulation 19Katarzyna Parchimowicz3 The institutional architecture of financial regulation and supervision 39Menelaos MarkakisPART II REGULATION OF FINANCIAL MARKETS4 Mandatory disclosure 56Matteo Gargantini5 Conduct of business rules 73Sergio Gilotta6 Market integrity and insider trading 89Ana Taleska7 Securities markets regulation 103Lauren Yu-Hsin Lin8 Investment fund regulation 119Ugo Malvagna9 Investment platforms regulation 135Eugenia MacchiavelloPART III REGULATION OF FINANCIAL INSTITUTIONS10 Microprudential regulation 155Lucrezia Cipriani and Andrea Minto11 Macroprudential regulation 172Luca Amorello12 Corporate governance of banks 191Katrien Morbee13 Recovery and resolution of banks 206Shuai Guo14 Regulation of financial collateral 223Hossein Nabilou15 Regulation of clearing and settlement 239Paolo Saguato16 Regulation of payment services 255Phoebus L. Athanassiou17 The law of central banking 272Rosa LastraPART IV NEW FRONTIERS IN FINANCIAL REGULATION18 Sustainability and securities market regulation 287Youcef Rahmani19 Sustainability and prudential banking regulation 302Seraina Grünewald20 Cryptocurrencies and stablecoins regulation 323Edoardo D. Martino21 Regulatory policies for crypto-asset offerings 340Iris H.-Y. ChiuIndex 358

‘Finance has become global, but financial regulation has remained more heterogeneous than was predicted two decades ago, when the “end of history” was en vogue. This book gives a much-needed accessible introduction to regulatory choices and structures in different parts of the world.’