The financial crisis has generated a deep revision of the regulation of securities and derivatives markets. In this paper, we critically examine the extent to which current reforms, such as the European Market Infrastructure Regulation and the proposed new Markets in Financial Instruments...

Die vorliegende Dissertation umfasst drei Artikel. Im ersten Artikel wird untersucht, welchen Effekt die Ankündigung einer Emission von trust preferred securities, einem hybriden Schuldinstrument, auf die Aktien der emittierenden Bank hat. Die Analyse zeigt, dass der Effekt auf die Aktien der...

Purpose – To explain the practices that ESMA (European Securities and Markets Authority) recommends for investment firms and national competent authorities to implement when it comes to structured retail products (SRPs), in order to ensure sound product governance arrangements and the...