The Impact of Brexit on Cross-Border Business of UK Credit Institutions and Investment Firms with German Clients

Nemeczek, Heinrich; Pitz, Sebastian

doi:10.2139/ssrn.2948944

Cited by 3 publications

(9 citation statements)

References 10 publications

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“…14 The mechanism is based on mutual trust of supervisory authorities and is dependent on harmonization of legislation and coordinated supervision of financial subjects. 15 This approach avoids the need for companies to satisfy regulatory demands in each country separately, thus providing a more efficient system and significant cost reductions. 16…”

Section: The Position Of Eu Member Statesmentioning

confidence: 99%

The Access to the Eu Financial Market for the Companies From Non-Member States

Višekruna¹

2018

Eu and Comparative Law Issues and Challenges Series

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The provision of financial services in the EU is characterized by the increased integration of the internal market, as well as, globalisation of said services. On the one hand, companies in the Member States can use the passport for the financial services, which allows their provision throughout the EU without the need to acquire a permit in each country separately. On the other hand, the financial crisis has shown a strong interdependence among financial markets globally and the negative effects deficiency in one of them can have on the EU market. Consequently, the possibilities for companies from non-member states to provide their services are limited in scope. However, gradually several possible methods of access were developed. Among them are setting up an EU subsidiary, operating a branch in the EU, or seeking a national exemption. One of the methods is determining the equivalence of third-country regulations and supervision mechanisms with the EU regime. This approach is sometimes deemed as controversial because the decision on equivalence is in the sole discretion of the European Commission, which causes fears that the process could be influenced by the political and economic necessities. The mechanism is characterized by the fragmentary approach-it is not prescribed in all acts on financial services and it is tailored to the needs of each act separately-and is granting fewer rights than a passport for financial services. Despite the controversy, its significance is reflected in the incentives for regulatory convergence with the EU regime and closer cooperation among regulatory bodies. This issue is proving to be more and more important, especially having in mind the newest developments in the EU market, as Brexit or new regime for the financial markets.

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Section: The Position Of Eu Member Statesmentioning

confidence: 99%

The Access to the Eu Financial Market for the Companies From Non-Member States

Višekruna¹

2018

Eu and Comparative Law Issues and Challenges Series

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“…For a more detailed discussion on infringements by object versus infringements by effect see Ibáñez Colomo, P., Editorial: The divide between restrictions by object and effect: why we discuss it and why it matters, Competition Law based approach to exclusionary practices in general, including fidelity rebates. 68 In 2005, with a view of modernising enforcement under Article 102 of the TFEU, the Commission published a Staff Discussion paper on the application of EC Treaty competition rules on the abuse of a dominant market position, 69 provoking a long and heated public debate, 70 which resulted in the adoption of the Guidance paper to exclusionary abuses of dominance 71 (Guidance paper) in 2009.…”

Section: Adoption Of the Guidance Papermentioning

confidence: 99%

“…In Sanader judgment, the European Court of Human Rights stated that the applicant, "who was tried in absentia and has not been shown to have sought to escape trial or to have unequivocally waived his right to appear in court, was not afforded with sufficient certainty the opportunity of obtaining a fresh determination of the merits of the charges against him by a court in full respect of his defence rights… ". 70 What "fresh determination of the merits of the charge" by a court and "full respect of his defence rights" actually imply? Do those standards imply the possibility for the accused to actively participate in presentation of all evidence that is relevant for the decision of the court, and not only the new evidence proposed for the reopened proceedings?…”

Section: Doubts In Jurisprudence Of the Supreme Court -What Is The Pu...mentioning

confidence: 99%

“…68 Finally, the end of automaticity in judicial cooperation in the criminal matters was confirmed by the CJEU ruling in joint cases Aranyosi and Căldăraru. 69 The CJEU breakthrough ruling confirmed that mutual trust does not imply blind trust, 70 in the surrender procedure. 71 Nevertheless, the rebuttal of mutual trust can only take place in very exceptional circumstances and under strict conditions.…”

Section: Article 4 Cfreu/article 3 Echr and Principle Of Mutual Trustmentioning

confidence: 99%

“…requests received to delete particular search results. 70 In some social networks it is unclear who could be considered as their controller. Some suggest the creation of a separate agency composed of representatives of government, companies and democratically elected representatives.…”

Section: Development Of New Digital Rightsmentioning

confidence: 99%

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EU and comparative law issues and challenges series

Čepo¹,

Kovačević²,

Lučić³

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Building on the Jean Monnet International Scientific Conference "Procedural aspects of EU law" that marked the beginning of the EU and comparative law issues and challenges series (ECLIC), we are happy to be publishing the second EU and comparative law issues and challenges series issue. EU and comparative law issues and challenges series features papers presented at ECLIC research events. The publications contain papers delivered by speakers and panellists, as well as ancillary texts (draft laws and rules) debated at the conferences. The focus of this series is on publication of fully blind peer-reviewed papers, inclusion of reviewed short papers reporting on work in progress is welcome. Importantly, international representative conference program committee guarantee a strict peer-review and paper selection process. This book is a collection of scientific articles that passed the double blind peer review process and were presented at the International Scientific Conference" EU Law in context -adjustment to membership and challenges of the enlargement" that took place on 14-15 June 2018 at Faculty of Law Osijek. We take pride in the fact that this Conference brought nearly 60 academics from EU Member States and candidate countries. Starting on the same question about adjustment to membership and challenges of the enlargement numerous aspects of European, criminal, civil, international, international private, administrative and constitutional law were researched and presented. This created unique academic forum that emerged new ideas and debates.

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Brexit – A Shattering Event or Unremarkable Episode for Private Equity Activity?

Dietlmeier

2018

SSRN Journal

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The Impact of Brexit on Cross-Border Business of UK Credit Institutions and Investment Firms with German Clients

Cited by 3 publications

References 10 publications

The Access to the Eu Financial Market for the Companies From Non-Member States

The Access to the Eu Financial Market for the Companies From Non-Member States

EU and comparative law issues and challenges series

Brexit – A Shattering Event or Unremarkable Episode for Private Equity Activity?

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