The regulation of investement firms in the European Union , Southampton, UK University of Southampton 51pp.
(Discussion Papers in Accounting and Management Science, 94-85).
Full text not available from this repository.
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
Actions (login required)