The regulation of investment firms in the European Union
The regulation of investment firms in the European Union
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
University of Southampton
Dale, R.
b637fb4c-899e-4bec-82a4-0b2ca795f7c7
1994
Dale, R.
b637fb4c-899e-4bec-82a4-0b2ca795f7c7
Dale, R.
(1994)
The regulation of investment firms in the European Union
(Discussion Papers in Accounting and Management Science, 94-85)
Southampton, UK.
University of Southampton
51pp.
Record type:
Monograph
(Discussion Paper)
Abstract
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
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Published date: 1994
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Local EPrints ID: 36053
URI: http://eprints.soton.ac.uk/id/eprint/36053
PURE UUID: 462ec28a-2487-40fa-898b-057bd8b8e778
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Date deposited: 03 May 2007
Last modified: 11 Dec 2021 15:31
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Author:
R. Dale
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