Since its establishment in 2011, the European Securities and Markets Authority (ESMA) has become a pivotal actor in EU financial market regulation and supervision. Its burgeoning influence extends from the rule-making process to supervisory convergence/coordination to direct supervision. Reflecting the now critical importance of ESMA to how the EU regulates and supervises financial markets, and with ESMA at an inflection point in its evolution, particularly in light of the Commission's 2017 proposals to reform ESMA and the UK's withdrawal from the EU, The Age of ESMA maps, contextualises, and examines ESMA's role and the implications for EU financial market governance.
As governments around the world withdraw from welfare provision and promote long-term savings by households through the financial markets, the protection of retail investors has become critically important. Taking as a case study the wide-ranging EC investor-protection regime which now governs EC retail markets after an intense reform period, this critical, contextual and comparative examination of the nature of investor protection explores why the retail investor should be protected, whether retail investor engagement with the markets should be encouraged and how investor protection laws should be designed, particularly in light of the financial crisis. The book considers the implications of the EC's investor protection rules 'on the books' but also considers investor protection law and policy 'in action', drawing on experience from the UK retail market and in particular the Financial Services Authority's extensive retail market activities, including the recent Retail Distribution Review and the Treating Customers Fairly strategy.
This timely book examines the legal and regulatory implications of Brexit for financial services. The UK's withdrawal from the EU is likely to have significant market, political, and policy consequences for the UK financial system, for the single market and the euro area, and for the international financial system. As the UK disentangles its financial system from the EU, law will matter to a profound extent. Treaties, legislation, and regulation, at UK, EU, and international levels, and the many dynamics and interests which drive them, will frame and shape the ultimate settlement between the UK and the EU. Law will also shape how the EU financial system develops post-Brexit and how the international financial system responds. Written by leading authorities in the field, this book addresses and contextualises the legal, regulatory, and policy issues across five dimensions, which correspond to the major legal spheres engaged: financial regulation implications and market access consequences for the UK financial system; labour law and free movement consequences for the UK financial system; the implications internally for EU financial governance and the euro area; the implications and relevance of the EEA/EFTA financial services market; and the trade law and World Trade Organization law implications.
The EU and the US responded to the global financial crisis by changing the rules for the functioning of financial services and markets and by establishing new oversight bodies. With the US Dodd–Frank Act and numerous EU regulations and directives now in place, this book provides a timely and thoughtful explanation of the key elements of the new regimes in both regions, of the political processes which shaped their content and of their practical impact. Insights from areas such as economics, political science and financial history elucidate the significance of the reforms. Australia's resilience during the financial crisis, which contrasted sharply with the severe problems that were experienced in the EU and the US, is also examined. The comparison between the performances of these major economies in a period of such extreme stress tells us much about the complex regulatory and economic ecosystems of which financial markets are a part.
Extraordinary. I loved it' - Jessie Burton, author of The Miniaturist 'Engrossing and moving . . . gives voice to so much that's unspoken about Ireland' - Emma Donoghue, author of Room 'Wonderfully compelling . . . haunting' - Joseph O'Connor, author of Star of the Sea Delving into the lives of three generations of women, The Amendments by Niamh Mulvey is an extraordinary novel about love and freedom, belonging and rebellion – and about how our past is a vital presence which sits alongside us. Nell and her partner Adrienne are about to have a baby. For Adrienne, it’s the start of a new life. For Nell, it’s the reason the two of them are sitting in a therapist’s office. Because she can’t go into this without dealing with the truth: that she has been a mother before, and now she can hardly bring herself to speak to her own mother, let alone return home to Ireland. Nell is running out of places to hide from her past. But to Ireland and the past is where she must go, and that is where The Amendments takes us: to the heat of Nell’s teenage years in the early 2000s, as Ireland was unpicking itself from its faith and embracing the hedonism of the Celtic Tiger. To 1983, when Nell’s mother Dolores was grappling with the tensions of the women’s rights movement. And then to the farms and suburbs and towns that made and unmade the lives at the centre of this story, bound together by the terrible secret that Nell still cannot face. Selected by the Irish Independent, the Irish Times, the Irish Journal and VIP as one of the most anticipated novels of the year.
The EU and the US responded to the global financial crisis by changing the rules for the functioning of financial services and markets and by establishing new oversight bodies. With the US Dodd–Frank Act and numerous EU regulations and directives now in place, this book provides a timely and thoughtful explanation of the key elements of the new regimes in both regions, of the political processes which shaped their content and of their practical impact. Insights from areas such as economics, political science and financial history elucidate the significance of the reforms. Australia's resilience during the financial crisis, which contrasted sharply with the severe problems that were experienced in the EU and the US, is also examined. The comparison between the performances of these major economies in a period of such extreme stress tells us much about the complex regulatory and economic ecosystems of which financial markets are a part.
This timely book examines the legal and regulatory implications of Brexit for financial services. The UK's withdrawal from the EU is likely to have significant market, political, and policy consequences for the UK financial system, for the single market and the euro area, and for the international financial system. As the UK disentangles its financial system from the EU, law will matter to a profound extent. Treaties, legislation, and regulation, at UK, EU, and international levels, and the many dynamics and interests which drive them, will frame and shape the ultimate settlement between the UK and the EU. Law will also shape how the EU financial system develops post-Brexit and how the international financial system responds. Written by leading authorities in the field, this book addresses and contextualises the legal, regulatory, and policy issues across five dimensions, which correspond to the major legal spheres engaged: financial regulation implications and market access consequences for the UK financial system; labour law and free movement consequences for the UK financial system; the implications internally for EU financial governance and the euro area; the implications and relevance of the EEA/EFTA financial services market; and the trade law and World Trade Organization law implications.
Over the decade or so since the global financial crisis rocked EU financial markets and led to wide-ranging reforms, EU securities and financial markets regulation has continued to evolve. The legislative framework has been refined and administrative rulemaking has expanded. Alongside, the Capital Markets Union agenda has developed, the UK has left the EU, and ESMA has emerged as a decisive influence on EU financial markets governance. All these developments, as well as the Covid-19 pandemic, have shaped the regulatory landscape and how supervision is organized. EU Securities and Financial Markets Regulation provides a comprehensive, critical, and contextual account of the intricate rulebook that governs EU financial markets and its supporting institutional arrangements. It is framed by an assessment of how the regime has evolved over the decade or so since the global financial crisis and considers, among other matters, the post-crisis reforms to key legislative measures, the massive expansion of administrative rulemaking and of soft law, the Capital Markets Union agenda, the development of supervisory convergence as the means for organizing pan-EU supervision, and ESMA's role in EU financial markets governance. Its coverage extends from capital-raising and the Prospectus Regulation to financial market intermediation and the MiFID II/MiFIR and IFD/IFR regimes, to the new regulatory regimes adopted since the global financial crisis (including for benchmarks and their administrators), to retail market regulation and the PRIIPs Regulation, and on to the EU's third country regime and the implications of the UK's departure from the EU. This is the fourth edition of the highly successful and authoritative monograph first published as EC Securities Regulation. Heavily revised from the third edition to reflect developments since the global financial crisis, it adopts the in-depth contextual and analytical approach of earlier editions and so considers the market, political, institutional, and international context of the regulatory and supervisory regime.
European Union citizenship is a novel and complex legal status. Since its formal conception in the Maastricht Treaty, EU citizenship has catalysed an extraordinary, and ongoing, legal experiment, the development and implications of which are traced comprehensively throughout this book. EU Citizenship Law articulates, explains, and analyses the legal framework and legal developments that have shaped the status of EU citizenship and the rights that it confers on Member State nationals. By examining how the rights and responsibilities produced by EU citizenship relate to other rights conferred by EU law, the distinctive meaning and scope - the added legal value - of EU citizenship is uncovered. But the legal story examined here sits in deeper and wider economic, political, social, and emotional contexts because EU citizenship is also an idea: a vector of European integration, collective personhood, and multi-layered identities that reflects the paradoxically inclusive and exclusive qualities of citizenship more generally. EU citizenship challenges us to consider the worth and deepen the protection of the person, and to shape a European Union where principles and values really matter. Thorough yet accessible, this work provides a comprehensive legal reference point for the progression of debates about what EU citizenship law actually 'is,' and for the continuing study and practice of EU citizenship law.
On 4 August 1914 following the outbreak of European hostilities, large sections of Irish Protestants and Catholics rallied to support the British and Allied war efforts. Yet less than two years later, the Easter Rising of 1916 allegedly put a stop to the Catholic commitment in exchange for a re-emphasis on the national question. In Ireland and the Great War Niamh Gallagher draws upon a formidable array of original research to offer a radical new reading of Irish involvement in the world's first total war. Exploring the 'home front' and Irish diasporic communities in Canada, Australia, and Britain, Gallagher reveals that substantial support for the Allied war effort continued largely unabated not only until November 1918, but afterwards as well. Rich in social texture and with fascinating new case studies of Irish participation in the conflict, this book has the makings of a major rethinking of Ireland's twentieth century.
The depiction of historical humanitarian disasters in art exhibitions, news reports, monuments and heritage landscapes has framed the harrowing images we currently associate with dispossession. People across the world are driven out of their homes and countries on a wave of conflict, poverty and famine, and our main sites for engaging with their loss are visual news and social media. In a reappraisal of the viewer's role in representations of displacement, Niamh Ann Kelly examines a wide range of commemorative visual culture from the mid-nineteenth-century Great Irish Famine. Her analysis of memorial images, objects and locations from that period until the early 21st century shows how artefacts of historical trauma can affect understandings of enforced migrations as an ongoing form of political violence. This book will be of interest to students and researchers of museum and heritage studies, material culture, Irish history and contemporary visual cultures exploring dispossession.
This is a critical biography of Aloysius O'Kelly's career as a painter, illustrator and committed Fenian which uncovers a world hardly known hitherto except in the most caricatured versions.
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