Capital Markets Law in Europe. Too Many Rules too Quick and Complicated?
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Abstract
European and national capital markets law is fast-paced and now being structured by Lamfalussy and de Larosière Processes to three relevant legal European levels and three relevant national levels. This double complexity is extended by four special features that result from the relationship between European and national laws: the problem of minimum and maximum harmonisation; national legislatures pressing ahead with passing laws; the relationship between directives and directly applicable regulations; and the influence of European law on non-harmonised areas of law.
Keywords
- European Capital Markets Law
- Harmonisation
- Civil Law Enforcement
