Jump to ContentJump to Main Navigation
The European Union and Global Financial Regulation$
Users without a subscription are not able to see the full content.

Lucia Quaglia

Print publication date: 2014

Print ISBN-13: 9780199688241

Published to Oxford Scholarship Online: August 2014

DOI: 10.1093/acprof:oso/9780199688241.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 26 November 2020

The EU and Global Securities Markets Regulation

The EU and Global Securities Markets Regulation

(p.57) 4 The EU and Global Securities Markets Regulation
The European Union and Global Financial Regulation

Lucia Quaglia

Oxford University Press

The EU regulatory capacity in securities markets was relatively weak until the late 1990s, but was substantially enhanced with the so-called Lamfalussy reform. After the global financial crisis, the EU extended the perimeter of legislation to rating agencies, hedge funds, and over-the-counter derivatives. So did the US. The US has a strong regulatory capacity in securities markets, which is a federal competence. The combination of strong US regulatory capacity and weak EU regulatory capacity prior to the 2000s, meant that in that period the EU passively cross-loaded part of its securities market legislation from the US. Moreover, the US was more influential than the EU in the International Organization of Securities Commissions (IOSCO). After the strengthening of EU and US regulatory capacity following the crisis, these jurisdictions are in the process of actively and passively cross-loading parts of their new regulatory templates.

Keywords:   securities markets regulation, International Organization of Securities Commissions, stock exchanges, credit rating agencies, hedge funds, derivatives, financial market infrastructure

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .