Comparing European and U.S. Securities Regulations : MiFID versus Corresponding U.S. Regulations Boskovic, Tanja Cerruti, Caroline Noel, Michel 2013-05-23T18:43:45Z 2013-05-23T18:43:45Z 2010
dc.description.abstract The purpose of this paper is to compare the European Union (EU) and United States (U.S.) securities regulations. In November 2007, the market in financial instruments directive 2004/39/EC (MiFID) came into force in the EU, and brought about deep changes in the market infrastructure. The same year regulations National Market System (NMS) in the U.S. was fully enacted and reformed equities markets. This study compares MiFID with the corresponding U.S. regulations, and primarily focuses on the regulatory and supervisory framework, trading venues, and the provision of investment services. Implementation of the rules enforcement and right to redress are beyond the scope of this paper. Likewise, the paper does not intend to judge the effectiveness of the two regulatory systems. en
dc.identifier.isbn 978-0-8213-8253-0
dc.identifier.issn 1726- 5878
dc.language.iso en_US
dc.publisher Washington, DC: World Bank
dc.relation.ispartofseries World Bank Working Paper;No. 184
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.subject Adequacy
dc.subject capital formation
dc.subject capital markets
dc.subject Capital Requirement
dc.subject capital requirements
dc.subject cash settlement
dc.subject CDS
dc.subject central banks
dc.subject checks
dc.subject collective investment
dc.subject Collective Investments
dc.subject commercial banks
dc.subject Commodity
dc.subject Company Law
dc.subject conflict of interest
dc.subject conflicts of interest
dc.subject Copyright Clearance
dc.subject Copyright Clearance Center
dc.subject corporate bonds
dc.subject corporate governance
dc.subject country to country
dc.subject Credit Default
dc.subject Credit Default Swaps
dc.subject credit derivatives
dc.subject credit institutions
dc.subject credit rating
dc.subject credit rating agency
dc.subject currency
dc.subject debt
dc.subject derivative
dc.subject derivative market
dc.subject derivatives
dc.subject disclosure requirement
dc.subject disclosure requirements
dc.subject due diligence
dc.subject efficient markets
dc.subject Electronic Communication
dc.subject enforcement procedures
dc.subject equities
dc.subject equity markets
dc.subject Equity securities
dc.subject equity trading
dc.subject Exchange Commission
dc.subject exposure
dc.subject exposures
dc.subject Federal Reserve
dc.subject Federal Reserve System
dc.subject finances
dc.subject Financial Crisis
dc.subject financial institution
dc.subject Financial Institutions
dc.subject Financial Instrument
dc.subject Financial Instruments
dc.subject financial market
dc.subject financial markets
dc.subject Financial Sector
dc.subject Financial Services
dc.subject financial system
dc.subject Fixed Income
dc.subject fixed income securities
dc.subject flow of information
dc.subject foreign banks
dc.subject framework for securities
dc.subject fraud
dc.subject frauds
dc.subject Futures
dc.subject futures contracts
dc.subject government bond
dc.subject government bond market
dc.subject government bonds
dc.subject government securities
dc.subject harmonization
dc.subject Hedge fund
dc.subject Hedge fund managers
dc.subject hedge funds
dc.subject Holding
dc.subject Holding Companies
dc.subject Holding Company
dc.subject holdings
dc.subject income trading
dc.subject individual investors
dc.subject informed investors
dc.subject insider dealing
dc.subject insider trading
dc.subject institutional investors
dc.subject instrument
dc.subject insurance
dc.subject insurance companies
dc.subject interest rates
dc.subject International Bank
dc.subject international financial crisis
dc.subject International Securities
dc.subject International Settlements
dc.subject investment activities
dc.subject investment bank
dc.subject investment banks
dc.subject investment decisions
dc.subject investment policies
dc.subject investment regulation
dc.subject investment risk
dc.subject investment risks
dc.subject Investor protection
dc.subject legal provisions
dc.subject level playing field
dc.subject liquid assets
dc.subject Liquidity
dc.subject margin requirements
dc.subject market conditions
dc.subject Market Data
dc.subject market depth
dc.subject market information
dc.subject market infrastructure
dc.subject market liquidity
dc.subject market participants
dc.subject market price
dc.subject market prices
dc.subject Market Securities
dc.subject market share
dc.subject Market Shares
dc.subject market size
dc.subject market surveillance
dc.subject Market Transparency
dc.subject Minimum capital requirements
dc.subject Money Laundering
dc.subject money market
dc.subject money market instruments
dc.subject Municipal bonds
dc.subject Municipal Securities
dc.subject mutual funds
dc.subject national securities
dc.subject orderly trading
dc.subject ownership structure
dc.subject pension
dc.subject pension funds
dc.subject portfolio
dc.subject portfolio management
dc.subject Price Discovery
dc.subject price transparency
dc.subject professional investors
dc.subject protection of investors
dc.subject prudential supervisions
dc.subject public companies
dc.subject public debt
dc.subject public offering
dc.subject registration of securities
dc.subject regulator
dc.subject Regulatory Authority
dc.subject Regulatory Framework
dc.subject regulatory frameworks
dc.subject regulatory systems
dc.subject reputation
dc.subject Reserve Requirements
dc.subject Retail investors
dc.subject risk management
dc.subject sale of investment
dc.subject savings
dc.subject scandal
dc.subject secondary market
dc.subject secondary markets
dc.subject Securities
dc.subject securities activities
dc.subject securities broker
dc.subject Securities Dealers
dc.subject Securities Exchange
dc.subject Securities Exchanges
dc.subject securities industry
dc.subject securities laws
dc.subject Securities Market
dc.subject Securities Markets
dc.subject securities registration
dc.subject securities regulation
dc.subject Securities Regulations
dc.subject Securities Regulators
dc.subject securities transaction
dc.subject securities transactions
dc.subject security futures
dc.subject security price
dc.subject share of equity
dc.subject shareholders
dc.subject small business
dc.subject Stock Exchange
dc.subject Stock Market
dc.subject stocks
dc.subject Systemic Risk
dc.subject systemic risks
dc.subject tax
dc.subject trades
dc.subject Trading
dc.subject Trading System
dc.subject Trading Systems
dc.subject Trading venue
dc.subject trading volume
dc.subject transaction
dc.subject transaction costs
dc.subject Transferable Securities
dc.subject Transparency
dc.subject Treasury
dc.subject Warehouse
dc.title Comparing European and U.S. Securities Regulations : MiFID versus Corresponding U.S. Regulations en
dspace.entity.type Publication 2010-01-06
okr.doctype Publications & Research :: Publication
okr.doctype Publications & Research
okr.globalpractice Finance and Markets
okr.globalpractice Governance
okr.globalpractice Trade and Competitiveness
okr.identifier.doi 10.1596/978-0-8213-8253-0 52460
okr.language.supported en
okr.region.administrative Europe and Central Asia
okr.region.geographical America
okr.region.geographical North America
okr.topic Finance and Financial Sector Development :: Debt Markets
okr.topic Finance and Financial Sector Development :: Mutual Funds
okr.topic Finance and Financial Sector Development :: Non Bank Financial Institutions
okr.topic Law and Development :: Corporate Law
okr.topic Private Sector Development :: Emerging Markets
okr.unit Private/Financial Sectors Devt (ECSPF)
relation.isSeriesOfPublication 3e126efc-de2f-4a95-be5b-bd2e430a4843
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
English PDF
3.82 MB
Adobe Portable Document Format
English PDF
No Thumbnail Available
English Text
763 KB
Plain Text
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
1.71 KB
Item-specific license agreed upon to submission