Economic Regulation and Competition
Regulation of Services in the EU, Germany and Japan
Published on 1. December 2002
346 pages
978-90-411-7181-8 (ISBN)
Description
In Japan and most of the continental European economies, we are presently observing a shift from what has been labeled a "corporatist" system to more market-oriented structures. Regulatory competition caused by the globalization of markets is increasingly placing the traditional legal institutions of these jurisdictions under severe strain. This is especially true for the services markets. Of these, the markets for financial services and telecommunications services have to adapt most urgently. These adaptations are already underway to varying extents and degrees, made possible by a mixture of deregulation and re-regulation.
In this volume, scholars from Germany, Austria, Switzerland and Japan, as well as high-ranking practitioners from various institutions, lay out the theoretical foundations and means for these developments. Through critical analysis, the various contributions show what has been reached so far in Europe and Japan and what remains to be achieved in the future.
In this volume, scholars from Germany, Austria, Switzerland and Japan, as well as high-ranking practitioners from various institutions, lay out the theoretical foundations and means for these developments. Through critical analysis, the various contributions show what has been reached so far in Europe and Japan and what remains to be achieved in the future.
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Jurgen Basedow
Economic Regulation and Competition:Regulation of Services in the EU, Germany, and Japan
Regulation of Services in the EU, Germany and Japan
Book
12/2002
1st Edition
Kluwer Law International
€96.30
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Content
- Cover
- Half Title Page
- Title Page
- Copyright Page
- PREFACE
- Table of Contents
- CONTRIBUTORS
- ECONOMIC REGULATION IN MARKET ECONOMIES
- I. The Concept of Regulation
- II. Political Explanations
- III. Justifications of Economic Regulation
- IV. Regulatory Policies in the Shadow of Binding Law
- V. Deregulation and the New Regulatory Mix
- VI. Conclusion
- Part 1: REGULATION OF BANKING SERVICES
- REGULATION OF BANKING SERVICES IN THE EUROPEAN UNION: A COMPARATIVE VIEW
- I. What Is So Special About Banking Regulation?
- II. Regulatory Objectives and Regulatory Principles
- III. The Project of European Banking Regulation: Institutional Environment and Foundations in EU Law
- IV. The European Regulatory and Supervisory Framework
- V. Conclusion and Summary
- REGULATION OF BANKING SERVICES: THE JAPANESE PERSPECTIVE
- I. Introduction
- II. Financial System Reform
- III. Financial Crisis Management
- IV. Toward the Future
- THE REGULATION OF BANKING SERVICES IN GERMANY
- I. General Statement
- II. Banking Supervision in Germany and International Harmonization of the Law
- Part 2: REGULATION OF EXCHANGE AND INVESTMENT SERVICES
- NEW CHALLENGES FOR STOCK EXCHANGES, INVESTMENT FIRMS, AND OTHER MARKET PARTICIPANTS
- I. General Remarks
- II. Market Participants
- III. Shifting and Bundling Supervisory Matters
- IV. Liability of Market Participants
- V. Final Remarks
- REGULATION OF EXCHANGES AND INVESTMENT SERVICES: A JAPANESE PERSPECTIVE
- I. Introduction
- II. Japan's Big Bang Reform
- III. Five Pieces of Legislation in 2000
- IV. Legal and Regulatory Infrastructure for Asset Securitization
- V. Trends in 2001
- VI. Impact of the Recent Reforms
- VII. Conclusion
- Part 3: REGULATION OF INSURANCE SERVICES
- REGULATION OF INSURANCE SERVICES: THE EUROPEAN PERSPECTIVE
- I. The Historical Background
- II. The Legal Background
- III. European Insurance Regulation: The Framework
- IV. The Regulatory Philosophy
- V. Unfinished Tasks
- REGULATION OF INSURANCE SERVICES: THE JAPANESE PERSPECTIVE
- I. Introduction
- II. Overview of Regulatory Schemes
- III. Market Entry and Deregulation
- IV. Financial Soundness and Rehabilitation of Life Insurers
- V. Relationship between the Regulatory Authority and Insurers
- VI. Provisional Remarks
- THE ROLE OF THE IAIS IN INSURANCE REGULATION
- I. Introduction
- II. The International Association of Insurance Supervisors (IAIS)
- III. Standard-Setting Activities
- IV. Cross-Sectoral Cooperation
- V. Final Remarks
- Part 4: REGULATION OF TELECOMMUNICATIONS SERVICES
- EUROPEAN TELECOMMUNICATIONS LAW: UNAFFECTED BY GLOBALIZATION?
- I. Introduction
- II. Dimensions of Globalization
- III. Exiting Hypotheses: A System of Multi-Level Governance Facing Globalization
- IV. Sobering Reality: European Telecommunications Law Hardly Affected by Globalization
- V. Explanations
- VI. Normative Outlook
- REGULATING TELECOMMUNICATIONS SERVICES: GLOBALIZATION IN VIEW OF JAPAN
- I. Introduction
- II. International Coordination
- III. 'Capturing' Regulators?
- IV. Semi-Official Self-Regulation: The Mobile Internet Business
- V. Conclusion
- STATEMENT ON THE REGULATION OF TELECOMMUNCATIONS SERVICES
- Part 5: ASPECTS OF PRIVATE INTERNATIONAL LAW
- CONFLICTS OF LAW IN THE FINANCIAL SERVICES MARKETS
- I. Globalization and Co-ordination
- II. Conflicts of Law in the Area of Market Regulations
- III. Jurisdiction to Adjudicate
- IV. Jurisdiction to Prescribe
- V. Jurisdiction to Co-operate
- DEREGULATION IN THE FIELD OF SECURITIES LAW AND PRIVATE INTERNATIONAL LAW FROM A JAPANESE PERSPECTIVE
- I. Deregulation and its Effect: Competition among Markets
- II. The Effect of Globalization for Investors
- III. The SEL: Its Enforcement, Applicability, and Territoriality
- IV. Summary
- CONCLUDING REMARKS AND SUMMARY OF DISCUSSIONS
- TRANSSECTORAL ISSUES OF REGULATION
- I. Regulation in Market Economies
- II. Common Problems and Questions on Regulation across the Four Sectors of Banking, Capital Markets, Insurance, and Telecommunications
- SUMMARY OF DISCUSSIONS
- INDEX
- Back Cover
