This book covers three topics that have dominated financial market regulation and supervision debates: digital finance, sustainable finance, and the Banking and Capital Markets Union. Within the first part, seven chapters will tackle specific questions arising in digital finance, including but not limited to artificial intelligence, tokenisation, and international regulatory cooperation in digital financial services. The second part addresses one of humanity’s most pressing issues today: the climate crisis. The quest for sustainable finance is driven by political actors and a common understanding that climate change is a severe threat. As financial institutions are a cornerstone of human interaction, they are in the regulatory spotlight. The chapters explore sustainability in EU banking and insurance regulation, the interrelationship between systemic risk and sustainability, and the ‘greening’ of EU monetary policy. The third part analyses two projects that have led to huge structural changes in the European financial market architecture over the last decade: the European Banking Union and Capital Markets Union. This transformation has raised numerous legal questions that can only gradually be answered in all their intricacies. In four chapters, this book examines composite procedures, property rights of depositors in banking resolution, preemptive financing arrangements and the phenomenon of subsidiarisation in the context of Brexit. Of interest to academics, policymakers, practitioners, and students in the field of EU financial regulation, banking law, securities law, and regulatory law, this book offers a compilation of analyses on pressing banking and capital markets law problems.
Part I: Digital Finance.
Chapter 1: Too Tech to Fail?.
Chapter 2: The
Algorithmic Future of EU Market Conduct Supervision: A Preliminary Check.-
Chapter 3: Appropriate Oversight of the Use of AI and ML by Financial
Market Participants an Analysis of the existing Requirements under MiFID II
and AIFMD.- Chapter 4: Tokenized Crowdfunding: What regulatory
forecast?.- Chapter 5: Regulatory Coordination and Diffusion in Digital
Financial Services and Sustainable Finance Management of ICT Third Party Risk
under DORA.- Chapter 6: Open Banking, access to account rule and (free)
marketability of banking data.- Chapter 7: Management of ICT Third Party Risk
under the Digital Operational Resilience Act.- Part II: Sustainable
Finance.- Chapter 8: Sustainability: A Current Driver in EU Banking and
Insurance Regulation and Supervision.- Chapter 9: Sustainability and Systemic
Risk in EU Banking Regulation.
Chapter 10: Green Monetary Policy in the EMU
and its Primary Law Limits.- Part III: Banking Union and Capital Markets
Union.- Chapter 11: Duty of Care as a Judicial Review Tool for SSM Composite
Procedures.- Chapter 12: Game of Thrones The Clash Between Public Interest
and Property Rights in Banking Resolution.- Chapter 13: Preemptive Financing
Arrangements within Cross-Border Banking Groups: Between Flexibility and
Legal Certainty.- Chapter 14: From branches to subsidiaries: post-Brexit
enforcement of subsidiarisation in the European Union.
Lukas Böffel, Dr. iur., LL.M. (Berkeley), holds a PhD from the Free University of Berlin and graduated from the University of California, Berkeley School of Law in 2022 with a Master of Laws. During his time at Berkeley, he was a supervising editor of the Berkeley Business Law Journal. In addition, he is a member of the Associated Researchers Group and, between 2020 and 2021, was a member and the coordinator of the Young Researchers Group.
Jonas Schürger, Dr. iur., holds a PhD from the University of Bonn for his work on the principles of equivalence and substituted compliance. Previously, he was a Research Assistant at the Universities of Vienna and Bonn. Furthermore, Jonas was a member of the Young Researchers Group of the European Banking Institute and coordinated the group until July 2022.
