Comparing European and U.S. Securities Regulations: MiFID versus Corresponding U.S. Regulations
World Bank Publications, Jan 12, 2010 - Law - 184 pages
This paper, aimed at professionals, scholars, and government officials in the field of securities regulations, compares the European (specifically the Market in Financial Instruments Directive MiFID) and U.S. securities regulations. The analysis focuses on the regulatory and supervisory framework, trading venues, and the provision of investment services. We show that although there may be regional differences in the structure and rules of current securities regulation, the objectives and some outcomes of regulation are comparable. Similarly, as the current global financial and economic crisis exposed gaps in securities regulations worldwide, regulators in both regions face similar challenges. This study will be particularly useful for World Bank member countries that are looking at either the European or U.S. regulations when conducting market reforms.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
activities admitted to trading alternative trading system applicable appropriate Article associated person best execution broker or dealer brokerdealers brokers and dealers capital requirements client or potential client orders Commission competent authority compliance comply conflict of interest credit derivative credit institutions dark pools Directive disclosure electronic communications network eligible counterparties ensure establish Europe exemption financial instruments FINRA functions funds implementing investment research investment services issuer liquidity MiFID level NASD Nasdaq national securities association national securities exchange obligations OTC market maker outsourcing participants penny stock policies and procedures potential client pre-trade professional client protection of investors Reg NMS Regulated Market regulatory relevant person repurchase agreement require investment firms research analyst research report responsible broker risk Securities Exchange Act securities regulations securitized SROs subject company subject security subparagraph supervision supervisory systematic internalisers tied agents trading venues transaction reporting plan transparency requirements UCITS United