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Reflections on the Regulation of European Securities Markets

Editor

Listed:
  • Morten Balling
    ()

Author

Listed:
  • Alexandre Lamfalussy

Abstract

This Study is based on the 8th SUERF Lecture given by Alexandre Lamfalussy. Professor Lamfalussy has a long association with SUERF since its creation in 1963. In July 2000 the ECOFIN established the Committee of Wise Men on the Regulation of European Securities Markets under the chairmanship of Baron Alexandre Lamfalussy. In this SUERF Study the author first of all discusses the importance of the capital market in Europe and the mandate of the Committee and the way it conducted its investigation. The Study emphasises the shortcomings and weaknesses of the present system of regulation of European securities markets, and why these weaknesses have emerged. The paper also discusses the Committee's proposed remedies and some of the reactions to them. Professor Lamfalussy also considers some of the developments since the Committee published its report. Throughout the Study, the author emphasises the need for greater transparency and consultation in the regulatory process.

Suggested Citation

  • Alexandre Lamfalussy, 2001. "Reflections on the Regulation of European Securities Markets," SUERF Studies, SUERF - The European Money and Finance Forum, number 14 edited by Morten Balling.
  • Handle: RePEc:erf:erfstu:14
    as

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    File URL: http://www.suerf.org/docx/o_210f760a89db30aa72ca258a3483cc7f_883_suerf.pdf
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Paula Bongini, 2003. "The EU Experience in Financial Services Liberalization: A Model for GATS Negotiations?," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    2. Thomas Dalsgaard & Jørgen Elmeskov & Cyn-Young Park, 2002. "Ongoing changes in the business cycle - evidence and causes," SUERF Studies, SUERF - The European Money and Finance Forum, number 20 edited by Morten Balling, March.
    3. Christian Harm, 2002. "Bank management between shareholders and regulators," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    4. Helmut Wagner, 2002. "Implications of Globalization for Monetary Policy," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    5. Luiz Fernando de Paula, 2002. "Banking Internationalisation and the Expansion Strategies of European Banks to Brazil during the 1990s," SUERF Studies, SUERF - The European Money and Finance Forum, number 18 edited by Morten Balling, March.
    6. Bert Scholtens & Dick van Wensveen, 2003. "The Theory of Financial Intermediation: An Essay On What It Does (Not) Explain," SUERF Studies, SUERF - The European Money and Finance Forum, number 2003/1 edited by Morten Balling, March.
    7. Jean-Paul Abraham & Peter Van Dijcke, 2002. "European Financial Cross-Border Consolidation: At the crossroads in Europe? By exception, evolution or revolution?," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    8. Juan Sergio Lopez & Alessandra Appennini & Stefania P. S. Rossi, 2002. "Are Italian mutual banks efficient? Evidence from two different cost frontier techniques," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    9. Roberto Di Salvo & Maria Carmela Mazzilis & Andrea Guidi, 2002. "Mergers and Acquisitions Between Mutual Banks in Italy :An analysis of the effects on performance and productive efficiency," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.

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