Contract Standards and the Markets in Financial Instruments Directive (MiFID): An Assessment of the Lamfalussy Regulatory Architecture

European Review of Contract Law

Volumn 1, Issue 1, 2005, Pages 19-43

  Ferrarini, Guido ^a  

^a UNIVERSITY OF GENOA   (Italy)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84881907030     PISSN: 16149920     EISSN: 16149939     Source Type: Journal    
DOI: 10.1515/ercl.2005.1.1.19     Document Type: Article

References (18)

1. nd ed, 665, para. 16
2. J. Köndgen, 'Rules of Conduct: Further Harmonisation?', in G. Ferrarini (ed), European Securities Markets: The Investment Services Directive and Beyond (London/The Hague/Boston: Kluwer Law International, 1998) 117, who speaks of 'transforming duties of contractual or precontractual origin into public-law obligations'.
3. See M. Tison, 'Conduct of Business Rules and their Implementation in the EU Member States', in G. Ferrarini, K. J. Hopt and E. Wymeersch (eds), Capital Markets in the Age of the Euro: Cross-border Transactions, Listed Companies and Regulation (London/The Hague/Boston: Kluwer Law International, 2002) 76
4. G. Ferrarini 'Towards a European Law of Investment Services and Institutions' (1994) 31 Common Market Law Review 1283;
5. N. Moloney, EC Securities Regulation (Oxford: Oxford University Press, 2002) 355 et seq.
6. See G. Ferrarini, 'Securities Regulation and the Rise of Pan-European Securities Markets: An Overview', in Ferrarini, Hopt and Wymeersch, n 5 above, 249
7. L. White, 'Competition versus Harmonisation: An Overview of International Regulation of Financial Services', in C. E. Barfield (ed), International Financial Markets: Harmonisation versus Competition (Washington, DC: The AEI Press, 1996) 28.
8. J. Macey and M. O'Hara, 'The Law and Economics of Best Execution' (1997) 6 Journal of Financial Intermediation 193
9. F. Easterbrook and D. Fischel, 'The Corporate Contract' (1989) 89 Columbia Law Review 1416.
10. See E. Ferran, Building an EU Securities Market (Cambridge: University Press, 2004), 75 et seq.
11. See 'Final Report of the Committee of Wise Men on the Regulation of European Securities markets, Brussels, 15 February 2001', p. 25.
12. G. Hertig and R. Lee, 'Four Predictions about the Future of EU Securities Regulation' (2003) Journal of Corporate Law Studies 359-377
13. See G. Ferrarini, 'Pan-European Securities Markets: Policy Issues and Regulatory Responses' (2002) 3 European Business Organization Law Review 249-292.
14. N. Moloney, 'Promoting the Retail Investor: The EU's Emerging Stategy and Conduct of Business Regulation', paper presented at the Milan Conference, n 3 above, finding in the Directive 'a retail investor regime that intervenes only lightly in the investor/investment firm relationship' (at 42).
15. Ferrarini, 'The European Regulation of Stock Exchanges: New Perspectives' (1999) 36 Common Market law Review 569-598.
16. See J. Macey and M. O'Hara, 'The Law and Economics of Best Execution' (1997) 6
17. J. Coffee and J. Seligman, Securities Regulation. Cases and Materials (New York, N.Y.: Foundation Press, 2003) 653.
18. For similar suggestions, see L. Zingales, 'The Costs and Benefits of Financial Market Regulation' (April 2004) ECGI - Law Working Paper No. 21/2004, http://ssrn.com/abstract=536682, 54, proposing to create a new Government agency dedicated to estimate the costs and benefits of any new proposed regulation.