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The regulation of investment services in the single market: the emergence of a new regulatory landscape

Moloney, Niamh (2002) The regulation of investment services in the single market: the emergence of a new regulatory landscape. European Business Organization Law Review, 3 (2). pp. 293-336. ISSN 1566-7529

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Abstract

EC investment services regulation is a regime in transition. Since the adoption of the Financial Services Action Plan (FSAP) in 1999, the harmonized EC investment-services regime has been undergoing a period of seismic change. This process of change has been accelerated by the presentation of the seminal Lamfalussy Report on the Regulation of European Securities Markets in February 2001. The shape of the regime which will emerge from this period is still opaque. It is likely, however, that this most recent developmental stage of EC investment-services regulation will conclude with the formation of a mature, fully-fledged system of EC investment-services market regulation. In particular, it appears that the new regime will regulate the single market in investment services considerably more aggressively than does the current regime. It is unlikely, therefore, to be characterized simply as a functional integration-device which facilitates the construction of the single market in investment services via a regulatory passport: this characterization does, however, describe the current regime, for the most part.

Item Type: Article
Official URL: http://journals.cambridge.org/action/displayJourna...
Additional Information: © 2002 T.M.C. Asser Press
Library of Congress subject classification: H Social Sciences > HG Finance
J Political Science > JX International law
Sets: Departments > Law
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 26 May 2009 15:34
URL: http://eprints.lse.ac.uk/24119/

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