The purpose of this paper is to compare the European Union (EU) and United States (U.S.) securities regulations. In November 2007, the market in financial instruments directive 2004/39/EC (MiFID) came into force in the EU, and brought about deep changes in the market infrastructure. The same...

Intro -- Contents -- Acknowledgments -- Acronyms and Abbreviations -- Executive Summary -- 1. Introduction -- Background -- Objective of the Study -- 2. Recent Evolution of NBFIs in Romania -- Overall Financial Sector Development -- Macroeconomic Environment -- Corporate Sector Developments --...