Presentation of seven country studies on the impact of implementation of EU Directives on Banking and Finance on national regulatory systems

This Report provides an introduction to the seven country studies on the implementation of the European Directives on Banking and Finance in the period from the introduction of the Single European Act to the 2007/8 Global financial crisis and the additional national measures that have been taken in response to the crisis. Each of the country studies provides a narrative of the domestic financial regulatory structure at the beginning of the period, defined as the date of the Single European Act, as well the means by which the EU Directives have been introduced into domestic legislation and the impact on the financial structure of the economy. In particular, the studies highlight how the Directives have been modified to meet the then existing domestic conditions and financial structure as well as how they have modified that structure. To provide a roadmap to these legislative changes, each country study is accompanied by a grid noting the dates and relevant national legislation implementing the Directives. To aid in cross-country comparison, a grid presenting the legislation for each country for the major Directives is also included. Since each country has complied with national insertion of the various Directives, and since each faced particular national circumstances, this summary will simply highlight for the individual countries those particular characteristics of more general importance for potential modification of the way regulations are introduced into the member states’ jurisprudence