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EU Competition Law and the Financial Services Sector

EU Competition Law and the Financial Services Sector
Author: Andrea Lista
Publisher: Taylor & Francis
Total Pages: 386
Release: 2013-06-07
Genre: Law
ISBN: 1135044651

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Competition law is a complex and constantly evolving area of law which affects every aspect of the market economy, including the financial services sector. This book is a comprehensive and practical guide to the application of the EU competition rules to banking and insurance industries. This book is divided into two parts: the first part explores the application of Articles 101, 102 and 107 TFEU to the insurance industry. Emphasis is placed on recent changes which have progressively eroded the block exemption regime that traditionally benefited the insurance industry. In the second part of the book, focus is on the application of the Articles of TFEU to the banking industry, with specific reference to card payment systems, which give rise to some of the most intricate antitrust issues in the financial services sector. Relevant Commission decisions and European Court of Justice case law are discussed and suggestions are made for an alternative regulatory framework through comparative analysis of US regulations. This book will be an invaluable reference point for legal practitioners specialising in EU Competition law, as well as postgraduate students and academic researchers working in competition law and the financial services sector.


EU Competition Law, the Consumer Interest and Data Protection

EU Competition Law, the Consumer Interest and Data Protection
Author: Federico Ferretti
Publisher: Springer
Total Pages: 135
Release: 2014-07-24
Genre: Law
ISBN: 3319089064

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The legitimacy or illegitimacy of information exchanges between competitors remains a topical debate with regard to EU competition law and policy. This book reexamines the issue in the retail financial services sector, focusing on the peculiar problems that it poses for EU market integration, consumer policy and protection and the intersection with fundamental rights. It analyzes and reflects on the relevant case law and guidelines offered by the corresponding European authorities, providing a critique of the current approach and advancing the proposition that information markets themselves need attention, in addition to the markets that they serve. The book also advances new perspectives on cases in which consumers’ personal information is involved in the exchange, recognizing the inevitable interaction between EU competition law, the interests and protection of consumers and personal data protection. It suggests that the status quo under competition law is unsatisfactorily short sighted and that the EU should take a holistic approach (including information markets) to the analysis of competition law, reflecting consumer protection and fundamental rights aspects in the assessment.


Competition Law and Financial Services

Competition Law and Financial Services
Author: David Harrison
Publisher: Routledge
Total Pages: 147
Release: 2014-03-14
Genre: Law
ISBN: 1134090862

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Competition law underpins the market economy by prohibiting anti-competitive agreements and practices, and the abuse of dominant positions in the market. Until the financial crisis it was widely assumed that the financial services industry was highly competitive. This book explores the extent to which this is the case. By analysing crisis and pre-crisis competition law cases and examples from the UK, the EU and around the world, David Harrison asks whether there exists good reason for financial services to be treated differently from the rest of the market economy. The theory of market efficiency is not borne out in practice. He particularly draws upon John Maynard Keynes in examining the differences between price mechanisms in product markets for "normal" goods, and price mechanisms in financial and investment markets where expectations of the future tend to play a greater role, leading to greater price fluctuations. In this evaluation, the book examines aspects of the practical functioning of capital markets such as the phenomenon of herding behaviour by financial participants, how short-term behaviour by intermediaries can be to the disadvantage of savers and productive investment, the relationship between investment markets and product markets and the extent to which the same competition rules apply to undertakings involved in both. The book will be invaluable to students, researchers and practitioners of banking and finance law, and commercial and competition law. .


European Competition Law Annual 1999

European Competition Law Annual 1999
Author: Claus-Dieter Ehlermann
Publisher: Hart Publishing
Total Pages: 727
Release: 2001-06-12
Genre: Law
ISBN: 1841132241

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In this book leading experts focus on contentious and challenging aspects of EU State Aid policy.


Market Supervision in the European Union

Market Supervision in the European Union
Author: Pieter van Cleynenbreugel
Publisher: Martinus Nijhoff Publishers
Total Pages: 399
Release: 2014-09-25
Genre: Law
ISBN: 9004280367

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In Market Supervision in the European Union, Pieter Van Cleynenbreugel compares and reconstructs the emergence of divergently structured supranational market supervision mechanisms in six different sectors of EU regulation (competition, financial services, chemicals, consumer law, electronic communications and energy). EU market supervision developments have been plentiful over the past decade, but have so far mainly been studied in their own sector-specific context. On the basis of an innovative cross-sector investigation, Pieter Van Cleynenbreugel identifies and conceptualises common or converging EU constitutional benchmarks underlying those sector-specific administrative design developments. Those benchmarks better allow to conceptualise, predict and restrain future EU integrated administration structures and initiatives in those and other fields of European Union law.


Competition Law and Financial Services

Competition Law and Financial Services
Author: David M. Harrison
Publisher: Routledge Research in Finance
Total Pages: 0
Release: 2014
Genre: Business & Economics
ISBN: 9780415828819

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Competition law underpins the market economy by prohibiting anti-competitive agreements and practices, and the abuse of dominant positions in the market. Until the financial crisis it was widely assumed that the financial services industry was highly competitive. This book explores the extent to which this is the case. By analysing crisis and pre-crisis competition law cases and examples from the UK, the EU and around the world, David Harrison asks whether there exists good reason for financial services to be treated differently from the rest of the market economy. The theory of market efficiency is not borne out in practice. He particularly draws upon John Maynard Keynes in examining the differences between price mechanisms in product markets for "normal" goods, and price mechanisms in financial and investment markets where expectations of the future tend to play a greater role, leading to greater price fluctuations. In this evaluation, the book examines aspects of the practical functioning of capital markets such as the phenomenon of herding behaviour by financial participants, how short-term behaviour by intermediaries can be to the disadvantage of savers and productive investment, the relationship between investment markets and product markets and the extent to which the same competition rules apply to undertakings involved in both. The book will be invaluable to students, researchers and practitioners of banking and finance law, and commercial and competition law. .


Services of General Economic Interest in EU Competition Law

Services of General Economic Interest in EU Competition Law
Author: Lei Zhu
Publisher: Springer Nature
Total Pages: 320
Release: 2020-05-08
Genre: Law
ISBN: 9462653879

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This book provides a comprehensive examination of the interaction between Services of General Economic Interest (SGEI) and EU competition law, covering in particular Article 106 of the Treaty on the Functioning of the European Union (TFEU) and state aid rules. It also takes the telecommunications, postal service and transport sectors as case studies, taking into account the technological, economic and political backgrounds to these sectors. The area of SGEI has undergone fundamental developments over the past three decades and the most recent changes in the Lisbon Treaty, recognizing SGEI as a shared value and granting explicit competence to the EU, mark its constitutional significance. The key issue is how to balance economic values underlying competitive markets and non-economic public service values such as universal access to essential services. The essence of the question is the relationship between the market and the state. This controversial issue is addressed through a critical analysis of a number of landmark EU Court judgments and Commission decisions over the decades. Offering a clear appreciation of the evolution of the EU regulatory framework on SGEI that lays out the limits and boundaries within which the Member States define, organize and fund SGEI, the book is particularly aimed at academics with a research interest in the interaction between public services and EU competition law, but as it also demonstrates clearly how the application of EU competition law has transformed the public utilities sectors, it will be of interest to law makers, legal professionals and policy makers as well. Dr. Lei Zhu is a Research Associate at the Institute of International Law at Wuhan University in Wuhan, China. He studied at the Institute for Competition & Procurement Studies of the Bangor University Law School in Wales, United Kingdom, where he obtained his PhD in law in 2015.


Fintech Competition

Fintech Competition
Author: Konstantinos Stylianou
Publisher: Bloomsbury Publishing
Total Pages: 379
Release: 2023-10-05
Genre: Law
ISBN: 1509963340

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This open access book is the first to systematically explore competition policy in fintech markets. Drawing from the expertise of law scholars, economists, and social and natural scientists from the EU and the US, this edited collection explores the competitive dynamics, market organisation, and competition law application in fintech markets. It is the 17th volume in the Swedish Studies in European Law series. The eBook editions of this book are available open access under a CC BY-NC-ND 4.0 licence on bloomsburycollections.com. Open access was funded by the Swedish Network for European Legal Studies.


The Role of Financial Stability in EU Law and Policy

The Role of Financial Stability in EU Law and Policy
Author: Gianni Lo Schiavo
Publisher: Kluwer Law International B.V.
Total Pages: 328
Release: 2016-04-24
Genre: Law
ISBN: 9041186123

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Since the outbreak of the 2008 financial crisis, European Union (EU) institutions and Member States have engaged in a major effort to repair the architecture of economic governance of the European Economic and Monetary Union (EMU). This book takes as its starting point the unclear notion of financial stability, which only recently has received a more detailed legal analysis. It examines the evolution of the concept of financial stability during the financial crisis and provides a conceptual framework in order to demonstrate that financial stability has become a foundational objective in Europe and has set a new normative framework in EU law and policy. Arguing that financial stability is a foundational objective in EU law and policy based on certain normative instruments, this ground-breaking book provides an in-depth and original understanding of the newly developed framework to attain supranational financial stability. In its analysis of the legal implications of these new instruments, the study examines topics and issues such as the following: - the concept and normative instruments of financial stability at European level; - the renewed economic governance in Europe; - the financial assistance mechanisms developed in Europe; - the new regulatory environment for banks at European level; - the Single Supervisory Mechanism and the role of the European Central Bank (ECB) therein; and - the new framework for banking resolution, with specific focus on the Single Resolution Mechanism. The author shows in detail how an appropriate level of supranational regulation, supervision, burden-sharing and rescue measures strengthen financial stability. Thereby, the book will appeal to officials in EU institutions and agencies as well as lawyers and academics in EU law and in banking/financial law to gain a clear understanding of role of financial stability and its normative instruments in EU law and policy. Gianni Lo Schiavo is currently working as a lawyer at the ECB. He obtained a PhD in EU Law at King's College, London, and has written numerous articles and chapters in EU administrative law, EU financial/banking law and EU competition law.


The International Handbook of Competition

The International Handbook of Competition
Author: Manfred Neumann
Publisher: Edward Elgar Publishing
Total Pages: 366
Release: 2004
Genre: Business & Economics
ISBN:

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This indispensable Handbook examines both economic and legal aspects of competition policy and industrial organization. It provides a scholarly review of the state of the art regarding economic theory, empirical evidence and standards of legal evaluation. The book aims primarily at furthering our understanding of the interplay between economic reasoning and legal expertise by concentrating on the fundamental issues and principles underlying competition policy. Following a comprehensive introduction, the authors investigate a number of important themes including: the natural limits of competition efficiency versus market power small firms, innovation and competition trade policy and competition policy financial services the political economy of antitrust dominance and monopolization identifying anti-trust markets competition policy versus regulation competition policy in a globalized economy. Each of the specially commissioned chapters, written by leading authorities in the field, provides a stimulating exploration of the intricacies of competition policy. The book will be accessible to a wide audience including students of economics and law, public administrators, lawyers, consultants and business managers. It will also be of particular interest to policymakers in EU accession countries who are required to introduce an appropriate legal framework to implement EU competition policy.