Regulating EU Capital Markets Union

Volume I: Fundamentals of a European Code
Erscheinungsjahr 2024
ISBN: 978-0-19-288266-0
Verlag: Oxford University Press

Buch, Englisch, 544 Seiten, Format (B × H): 174 mm x 250 mm, Gewicht: 1138 g

The current framework of EU regulation concerning capital markets is complex and partly inconsistent in the way that it is applied in the various Member States. Through the Capital Markets Union (CMU) project the European Union is pursuing the goal of establishing a true single market for capital in Europe. Regulating EU Capital Markets Union: Fundamentals of a European Code is the first of a two-volume series proposing the codification of EU legislature as a way to establish this goal.

This book analyses all existing capital markets regulation. It explains the idea of codification, looks at the added value of a European Capital Markets Code, discusses key concepts of the current regimes and elaborates on the goals of the future codification act. The work explores the idea that the provisions spread over numerous rulebooks should be brought together in a single legal act in the form of a regulation and organized in a systematic way to reduce complexity thereby facilitating accessibility of capital markets law.

Drawing on the experience of academics from various European countries, this volume discusses possible contents of a European Capital Markets Code, addresses approaches to regulatory reforms and explores the role of private enforcement.

Autoren/Hrsg.

Veil, Rüdiger

Fachgebiete

• Rechtswissenschaften Wirtschaftsrecht

Inhaltsverzeichnis

- Part 1: Idea of Codification, Legislative Competencies and Legislative Style

- 1: Rüdiger Veil: The Idea of Codification of European Capital Markets Law

- 2: Azur Coulmas: The Draft US Federal Securities Code - Lessons for Codifying EU Capital Markets Law

- 3: Jörn Axel Kämmerer: European Capital Markets Code: The Treaty Framework

- 4: Vassilios Tountopoulos: The Legislative Style of Codification: the example of compliance within investments firms

- 5: Hans Christoph Grigoleit: Sanctions and Degree of Harmonization

- Part 2: General Part of a European Securities Code: Regulatory Objectives and Strategies

- Section 1: Regulatory Objectives and Strategies

- 6: Rüdiger Veil: Efficient and Properly Functioning Capital Markets - Regulatory Objectives in a European Capital Markets Code

- 7: Mathias Habersack: Regulatory Objectives and Strategies: Investor Protection

- 8: Jesper Lau Hansen: Market Transactions and the Case of Insider Dealing - Drawing the Line between Legal and Illegal Behaviour

- 9: Jacek Jastrzebski: Regulatory Objectives: Financial Stability

- 10: Birgit Spießhofer: Sustainability and ESG Aspects

- 11: Jennifer Payne: Managing the Conflicts Between Regulatory Goals

- 12: Marco Ventoruzzo: Regulatory Goals in Capital Markets Law - Reflections on the Value of Provisions on Goals in a Codification Act

- 13: Iris H-Y Chiu: Proportionality in a European Capital Markets Code

- Section 2: Basic Concepts

- 14: Jacek Dybinski and Krzysztof Oplustil: Defining 'Securities' in the European Capital Markets Code

- 15: Matthias Casper and Patrick Leopold: DLT-based instruments in the context of securities definitions

- Part 3: Content of Special Parts

- 16: Rüdiger Veil: Prospectuses: Primary Markets Law in a European Capital Markets Code

- 17: Morten Kinander: Market Abuse - Codifying the Core Elements of the Market Abuse Regime in the MAR and the CRIM-MAD

- 18: Giovanni Strampelli: The Limits of Including Financial Disclosure Rules in a European Capital Markets Code

- 19: Veerle Colaert: Investment Services

- 20: Andrés Recalde Castells and Martin Winner: Public Takeovers

- Part 4: Conclusion

- 21: Rüdiger Veil: Conclusion

Über Autor(innen)

Rüdiger Veil holds the chair for civil law and business law at Ludwig-Maximilians-University, Munich. He graduated at Humboldt University, Berlin in 1995 with a doctoral thesis on 'Conversion of a Stock Corporation'. In 2002, he obtained his habilitation at Humboldt University with a book on 'Inter-company Agreements'. Rüdiger Veil has published books on 'European Capital Markets Law' (3rd. edition 2022) and on 'The Law of Corporations' (6th. edition 2015) and more than 100 articles in top ranked journals and research handbooks. He has acted as an expert for the German, European, Chinese and Russian parliament on draft laws on corporate law and capital markets law. He was a member of the ESMA Securities and Markets Stakeholder Group (SMSG) from 2014 to 2018; from September 2016 to December 2018 he was the group's Chair. ESMA has appointed him as an Alternate Member of the ESA Joint Board of Appeal in 2021.