scholarly journals In and out of revolving doors in European Union financial regulatory authorities

2021 ◽  
Author(s):  
Adam William Chalmers ◽  
Robyn Klingler‐Vidra ◽  
Alfio Puglisi ◽  
Lisa Remke
Keyword(s):  
European Union ◽  
Regulatory Authorities ◽  
Revolving Doors ◽  
Financial Regulatory

Regulating FinTech Businesses

2021 ◽  
pp. 321-344
Author(s):  
Sherin Binti Kunhibava ◽  
Aishath Muneeza
Keyword(s):  
Consumer Protection ◽  
Peer To Peer ◽  
Customer Requirements ◽  
Management Framework ◽  
Finance Industry ◽  
Regulatory Authorities ◽  
Digital Currency ◽  
Equity Crowdfunding ◽  
Digital Asset ◽  
Financial Regulatory

The Malaysian finance industry is governed by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC). BNM governs the banking and insurance industries and the SC regulates and develops its capital market. Both authorities have issued regulations to cater for the proliferation of fintech businesses. For example, BNM issued regulations on digital currency exchanges, electronic-know your customer requirements for fintech companies facilitating remittances, and a regulatory sandbox framework for fintech businesses. Similarly, the SC issued a digital investment management framework, another to facilitate equity crowdfunding, peer-to-peer lending, and digital asset exchanges, and the instrumental digital currency and digital token order. All were issued to encourage innovation in the industry, manage disruption, mitigate risks, and ensure consumer protection. This chapter will explain the steps taken by Malaysia's financial regulatory authorities in dealing with fintech-based companies, critically review the regulations, and recommend some ways forward.

10. European agencies: Managing Europeanization

2017 ◽  
Author(s):  
R. Daniel Kelemen ◽  
Giandomenico Majone
Keyword(s):  
European Union ◽  
Food Safety ◽  
Regulatory Agencies ◽  
European Medicines Agency ◽  
European Environment Agency ◽  
Regulatory Authorities ◽  
European Governance ◽  
Environment Agency ◽  
Agency Design ◽  
The Eu

This chapter examines why European Union agencies have been created and what impact they are having on European governance. It begins with a discussion of theories that explain law-makersʼ design choices and the increasing popularity of European agencies, focusing on delegation and policy credibility, the politics of agency design, and legal obstacles to delegation. It then looks at the development and operation of three regulatory agencies: the European Environment Agency, the European Medicines Agency, and the European Food Safety Authority. It also considers issues regarding the EU agenciesʼ independence and accountability before concluding with an analysis of the model in which an EU agency serves as the coordinating hub of a network of national regulatory authorities.

scholarly journals Analysis of selected aspects of the railway safety in the European Union

2018 ◽  
Vol 19 (12) ◽  
pp. 378-381
Author(s):  
Tomasz Ciszewski ◽  
Waldemar Nowakowski ◽  
Marcin Chrzan
Keyword(s):  
European Union ◽  
Sustainable Development ◽  
European Community ◽  
Safety Culture ◽  
The European Union ◽  
Safety Level ◽  
Regulatory Authorities ◽  
Preventive Actions ◽  
Railway Safety ◽  
Practical Experiences

Sustainable development of railway companies is conditioned by safety, which is why each railway operator should continually strive to improve safety and reduce the number of accidents. The requirements for reporting incidents and analyses are regulated at the European Community level. The regulatory authorities - national and European - are responsible for monitoring the safety culture. On the basis of the acquired data and safety indicators the authors analysed trends related to the European railways safety level. Comparative analyses carried out for individual EU countries allowed to find the main causes of accidents and indicate selected corrective actions that can be taken to improve safety and reduce accident costs. Previous practical experiences show that the costs of preventive actions are much smaller than the costs of eliminating the effects of accidents. Although the results of the analysis clearly show that consistent efforts in the safety area lead to a structural reduction in the number of accidents, there is still significant scope for improvements in many areas.

Global Markets, National Toolkits

2018 ◽  
Author(s):  
Matthew Gravelle ◽  
Stefano Pagliari
Keyword(s):  
United States ◽  
European Union ◽  
The United States ◽  
Global Markets ◽  
The European Union ◽  
Regulatory Oversight ◽  
Land Grab ◽  
Regulatory Authorities ◽  
Otc Derivatives ◽  
Derivatives Markets

A key trend that has characterized implementation of the international agenda to regulate derivatives has been the emergence of a number of disputes over the territorial scope of regulation, as different countries have sought to extend their regulatory oversight over firms and markets that are not legally domiciled in their jurisdiction. What explains the emergence and continuation of these extraterritorial measures in the regulation of global OTC derivatives markets? This chapter addresses this question by exploring the “regulatory land grab” that has characterized the rules introduced in the United States and the European Union to regulate foreign dealers, CCPs, and trading venues. This chapter will argue that the different degrees of extraterritoriality that have emerged in the post-crisis agenda reflect the challenges that regulatory authorities have faced to implement the new prudential agenda in a manner that addresses the highly internationalized nature of derivatives markets.

Over-the-Counter Derivatives Regulation in Hong Kong and Singapore

2019 ◽  
Vol 1 (4) ◽  
pp. 1-50
Author(s):  
Christopher Chen
Keyword(s):  
European Union ◽  
Hong Kong ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Asia Pacific ◽  
Regulatory Structure ◽  
Over The Counter ◽  
Regulatory Mandates ◽  
The Global Financial Crisis ◽  
Financial Regulatory

Abstract In this article, Dr Christopher Chen examines and compares the regulation of over-the-counter derivatives in Hong Kong and Singapore, the two largest international financial centres in Asia Pacific. Dr Chen analyses current or proposed regulations on trade reporting, centralised clearing and mandatory exchange trading mandates regarding OTC derivatives against the backdrop of reforms of international financial regulatory structure after the global financial crisis. The article also relates the reforms in Asia to development in major Western markets such as the U.S., U.K. or European Union. Apart from technical comparison and dissecting of content of rules from different angles, this article also examines the rationale behind those reforms and policy concerns behind Asian adoption of the regulatory mandates prescribed by G20 as well as potential policy concerns (such as competition and extraterritoriality) in a market that is dominated by Western banks.

The Legitimacy Challenges for New Modes of Governance: Trustworthy Responsiveness

2011 ◽  
Vol 46 (1) ◽  
pp. 81-100 ◽  
Author(s):  
Andreas Føllesdal
Keyword(s):  
European Union ◽  
Regulatory Networks ◽  
Democratic Accountability ◽  
The European Union ◽  
European Level ◽  
Accountability Measures ◽  
Regulatory Authorities ◽  
Private And Public ◽  
Modes Of Governance ◽  
New Modes Of Governance

AbstractTwo typical features of new modes of governance (NMG) are of particular concern: (1) the delegation of regulatory activities to independent regulatory authorities at the national and the European level; and (2) regulatory networks outside the legislative arenas, with both private and public actors. These features tend to make the NMG less democratically accountable. Yet some hold that NMG can confer legitimacy on the European Union, especially because they secure ‘output’ more effectively than democratic arrangements, even though they lack any ‘input’ from voters. This article challenges these normative claims: the alleged benefits of NMG may be less than often claimed, while democratic accountability measures are less of a challenge to effectiveness and credibility, properly conceived.

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