The regulation of investement firms in the European Union

Dale, R. (1994) The regulation of investement firms in the European Union. Southampton, UK, University of Southampton, 51pp. (Discussion Papers in Accounting and Management Science, 94-85).


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This article examines the new regulatory framework for European securities markets, focusing in particular on capital adequacy requirements and the attempts of policy- makers to establish a 'level playing field' between banks and non-bank investment firms. The major conclusion is that whilst the new framework may have achieved broad competitive equality between banking and investment firms, it has severely tilted the playing field when it comes to banking and securities business. One market consequence of this approach will be an increased emphasis on securities financing at the expense of traditional relationship banking

Item Type: Monograph (Discussion Paper)
Additional Information:
Related URLs:
Subjects: D History General and Old World > D History (General) > D901 Europe (General)
H Social Sciences > HG Finance
Divisions : University Structure - Pre August 2011 > School of Management
ePrint ID: 36053
Accepted Date and Publication Date:
Date Deposited: 03 May 2007
Last Modified: 31 Mar 2016 12:04
The harmonisation of e. C. Securities market regulations
Funded by: ESRC National Centre for Research Methods (L113251016)
1 October 1991 to 31 October 1994

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