Mirroring the long-established structure of the financial industry, EU financial regulation as we know it today approaches banking, insurance and investment services separately and often divergently. In recent decades however, the clear separation between financial sectors has gradually evaporated, as business lines have converged across sectors and FinTech solutions have emerged which do not fit traditional sector boundaries.
As the contours of the traditional tripartition in the financial industry have faded, the diverging regulatory and supervisory treatment of these sectors has become increasingly at odds with economic reality.
This book brings together insights developed by distinguished researchers and industry professionals in a series of articles analysing the main areas of EU financial regulation from a cross-sectoral perspective. For each specific research theme – including prudential regulation, corporate governance and conduct of business rules – the similarities, as well as gaps, overlaps and unjustifiable differences between banking, securities and insurance regulation, are clearly presented and discussed. This innovative research approach is aimed at informing lawmakers and policymakers on potential improvements to EU financial regulation whilst also supporting legal and compliance professionals applying the current framework or looking to streamline compliance processes.
Veerle Colaert is Professor of Financial Law at KU Leuven, Belgium, and co-director of the Jan Ronse Institute for Company and Financial Law; Excellence Initiative Professor at Radboud University Nijmegen; Chairwoman of the Securities and Markets Stakeholder Group advising ESMA; and Member of the Sanctions Committee of the Belgian Financial Services and Markets Authority (FSMA).
Danny Busch is Professor of Financial Law and Director of the Institute for Financial Law (IFL) at the University of Nijmegen, the Netherlands; Research Fellow of Harris Manchester College and a Fellow of the Commercial Law Centre, University of Oxford; Visiting Professor at Université de Nice Côte d'Azur, Università Cattolica del Sacro Cuore di Milano, and Università degli studi di Genova; Member of the Dutch Banking Disciplinary Committee (Tuchtcommissie Banken); Member of the Appeal Committee of the Dutch Complaint Institute Financial Services (Klachteninstituut Financiële Dienstverlening, KiFiD).
Thomas Incalza is Postdoctoral FWO Researcher and Visiting Professor of Business and Company Law at KU Leuven, Belgium.
