Over the last few decades, banks, insurers, pension funds, investments firms and other financial institutions have become subject to sometimes dramatically new, but always substantially more, legislation. This is especially true for the EU. Moreover, Brexit has already caused profound changes to the dynamics of EU financial regulation, and its effects will likely become ever-more significant in the years to come.
This book serves as a comprehensive introduction to these developments, and, more generally, to European banking and financial law. It is organised around the three economic themes that are central to the financial industry: (i) financial markets, (ii) banking and financial institutions and (iii) financial transactions. It covers not only regulatory law but also commercial law that is relevant for the most important financial transactions.
This Second Edition has been completely revised. The basic structure of the First Edition has been maintained, but all chapters have been thoroughly rewritten and restructured. Attention is now also given to topics such as shadow banking and credit rating agencies. As a matter of course, all new relevant legislation and case law has been included. In addition, on the basis of real-life classroom experience, student questions and further reading suggestions have been updated and expanded.
Matthias Haentjens is Professor of Law and Director of the Hazelhoff Centre for Financial Law at Leiden University, the Netherlands. He also serves as a deputy judge in the court of Amsterdam.
Pierre de Gioia Carabellese is a fellow of Advance HE, Professor (full) of Law in England (Huddersfield, 2017) and a Professor of Business Law and Regulation. Pierre is also a Solicitor and Notary Public (Edinburgh) and an Avvocato (Rome).
Part A Introduction 1. Sources of EU Financial Law Part B Financial Markets 2. The Primary Market 3. The Secondary Market 4. Market Abuse 5. Consumer and Investor Protection Part C Financial Institutions 6. Banking, EU Supervision and Bank Structures 7. Authorisation, Capital Requirements and Governance Rules 8. Bank Insolvency 9. The Investment Firm and the Investment Fund Part D Financial Transactions 10. Custody and Transfer of Cash and Securities 11. Loan Finance 12. Derivatives 13. Collateralised Finance 14. Structured Finance 15. Answers