In 2016, the Eurozone is still coping with the consequences of two financial crises that revealed the shortcomings of an incomplete monetary union. The European economy suffered two severe recessions and a sustainable growth path is still elusive. Risks in the banking system and a severe banking...

The European Stability Mechanism (ESM) is the permanent crisis resolution mechanism for euro area countries. We analyze the costs of the current (suboptimal) refinancing design of the ESM and evaluate an alternative asset-backed securities (ABS) structure under different scenarios. Our...

Since the global financial crisis of 2008 European authorities have set out to strengthen financial governance in order to create a more stable and resilient financial system. As discussed in this paper, the new and updated EU legislation addressed at a wide array of financial markets and...

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...

Von der Finanzkrise zur Finanzmarktregulierung -- Produktintervention -- Product Governance -- Provisionsbasierte Beratung und Honoraranlageberatung -- Die „abhängige“ und „unabhängige“ Beratung nach MiFID II -- Die Auswirkungen der MiFID II auf den Anlegerschutz. .

1. Introduction -- 2. General Observations -- 3. FinTech and Market-based Financing -- 4. European Approaches to FinTech: The Role of Regulation and the Evolution of Supervision -- 5. FinTech, Chain Transactions and Open Banking -- 6. FinTech Firms -- 7. FinTech and Money -- 8. FinTech, RegTech...