English
 
Help Privacy Policy Disclaimer
  Advanced SearchBrowse

Item

ITEM ACTIONSEXPORT
 
 
DownloadE-Mail
 Local TagsRelease HistoryDetailsSummary
  The Internal and External Centralisation of Capital Markets Union Regulatory Structures: The Case of Central Counterparties

Bulfone, F., & Smoleńska, A. (2020). The Internal and External Centralisation of Capital Markets Union Regulatory Structures: The Case of Central Counterparties. In A. Héritier, & M. G. Schoeller (Eds.), Governing Finance in Europe: A Centralisation of Rulemaking? (pp. 52-78). Cheltenham: Edward Elgar Publishing. doi:10.4337/9781839101120.00010.

Item is

 

show all hide all

Basic

show hide
Item Permalink: https://hdl.handle.net/21.11116/0000-000C-74B3-7 Version Permalink: https://hdl.handle.net/21.11116/0000-000C-74B4-6
Genre: Contribution to Collected Edition

Files

show Files
hide Files
:
GFE_2020_Bulfone.pdf (Any fulltext), 411KB
View   Save
File Permalink:
https://hdl.handle.net/21.11116/0000-000C-74B5-5
Name:
GFE_2020_Bulfone.pdf
Description:
Full text open access
OA-Status:
Green
Visibility:
Public
MIME-Type / Checksum:
application/pdf / [MD5]
Technical Metadata:
View
Copyright Date:
-
Copyright Info:
-
License:
-

Locators

show
hide
Locator:
https://doi.org/10.4337/9781839101120.00010 (Publisher version)
Description:
Full text open access via publisher
OA-Status:
Not specified

Creators

show
hide
 Creators:
Bulfone, Fabio1, Author                 
Smoleńska, Agnieszka2, Author
Affiliations:
1Politische Ökonomie der europäischen Integration, MPI for the Study of Societies, Max Planck Society, ou_1856345              
2Law Department, European University Institute, Fiesole, Italy, ou_persistent22              

Content

show
hide
Free keywords: -
 Abstract: This chapter provides a legal and political analysis of the EU regulatory framework for central counterparties (CCPs) as established by the recent reform of the European Market Infrastructure Regulation (EMIR 2019). In our legal analysis we show how EMIR 2019 establishes a differentiated regulatory framework for CCPs based in the EU (intra-EU CCPs) and for those providing services in the EU market but established in a third-country (extra-EU CCPs). The two-pronged framework on the one hand strengthens ESMA’s supervisory powers and centralises the regulatory structure over extra-EU CCPs and on the other hand allows for decentralisation where national competent authorities retain supervisory powers over intra-EU CCPs. This differentiated regulatory outcome is then explained by looking at the interplay between two political factors: the ‘neo-mercantilist’ competition between Member States to attract financial outflows from London after Brexit; and the bureaucratic competition between different EU agencies to strengthen their supervisory powers.

Details

show
hide
Language(s): eng - English
 Dates: 2020-08-072020
 Publication Status: Issued
 Pages: -
 Publishing info: -
 Table of Contents: -
 Rev. Type: -
 Identifiers: DOI: 10.4337/9781839101120.00010
 Degree: -

Event

show

Legal Case

show

Project information

show

Source 1

show
hide
Title: Governing Finance in Europe: A Centralisation of Rulemaking?
Source Genre: Collected Edition
 Creator(s):
Héritier, Adrienne1, Editor
Schoeller, Magnus G.2, Editor
Affiliations:
1 European University Institute, Fiesole, Italy, ou_persistent22            
2 Centre for European Integration Research, Department of Political Science, University of Vienna, Austria, ou_persistent22            
Publ. Info: Cheltenham : Edward Elgar Publishing
Pages: - Volume / Issue: - Sequence Number: - Start / End Page: 52 - 78 Identifier: ISBN: 978-1-83910-111-3
ISBN: 978-1-83910-112-0
DOI: 10.4337/9781839101120