The European Union and the Global Financial Crisis: A View from 2016

Graeme Scott Baber, PhD
Researcher in Financial Law

Series: European Political, Economic, and Security Issues
BISAC: BUS027000

Clear

$230.00

eBook

Digitally watermarked, DRM-free.
Immediate eBook download after purchase.

Product price
Additional options total:
Order total:

Quantity:

Details

The European Union banking and securities legislation immediately before the global financial crisis is described in detail. Two significant inputs to the post-crisis legislation are considered in this book – the international regulatory response through the Group of Twenty (G20) countries and the Financial Services Board, and the European Supervisory Authorities – which comprise the European Banking Authority, a European Securities and Markets Authority and a European Insurance and Occupational Pensions Authority. Aspects of the post-crisis securities and banking legislation are described – with a comparison made with the pre-crisis legislation, in places in which this is possible. The securities legislation, in particular, has shown a considerable increase in its volume and contents in the last few years, and some of these provisions are reported and discussed. The final chapter considers the European Commission’s plans for the completion of the Economic and Monetary Union, from the British perspective in light of the speech made by the then British Prime Minister, the Right Honourable Margaret Thatcher MP, at Bruges in September 1988. The global financial crisis exposed vulnerabilities in the Economic and Monetary Union, which the Commission is attempting to address with plans for further integration. It is not clear that this is wholly in the interests of Europe’s citizens. (Imprint: Nova)

Preface

Acknowledgments

List of Abbreviations

Chapter 1. The European Union before the Global Financial Crisis

Chapter 2. The International Response to the GFC

Chapter 3. The European Sectoral Architecture

Chapter 4. Aspects of the Legislation

Chapter 5. A Few Thoughts

Bibliography

About the Author

Index

Chapter One

[1] European Commission (1985). Completing the internal market, COM(85) 310 final, 14/06/85. http://europa.eu/documents/comm/white_papers/pdf/com1985_0310_f_en.pdf.
[2] European Communities (1986). The Single European Act, Luxembourg, 17/02/86.
[3] European Commission (1999). Financial S€rvices: Implementing the framework forfinancial markets: Action Plan, COM(1999)232, 11/05/99. http://ec.europa.eu/internal_market/finances/docs/actionplan/index/action_en.pdf.
[4] European Commission (1999). Financial S€rvices: Implementing the framework forfinancial markets: Action Plan, pp.13-14 and 30.
[5] European Securities and Markets Authority (2015), Commission des opérations debourse – Press Release: The Creation of the Forum of European Securities Commissions (FESCO), FD1047, 09/12/97. http://www.esma.europa.eu/system/files/FD1047.pdf.
[6] European Commission (2001). Final Report of the Committee of Wise Men on the Regulation of European Securities Markets, Brussels, 15/02/01. http://ec.europa.eu/finance/securities/docs/lamfalussy/wisemen/final-report-wise-men_en.pdf.
[7] European Commission (2001). Final Report of the Committee of Wise Men on the Regulation of European Securities Markets, p.19.
[8] European Commission (2001). Final Report of the Committee of Wise Men on the Regulation of European Securities Markets, pp.28-29 and 36.
[9] European Commission (2001). Final Report of the Committee of Wise Men on the Regulation of European Securities Markets, pp.6 and 37.
[10] European Commission (2001). Final Report of the Committee of Wise Men on the Regulation of European Securities Markets, pp.6 and 40.
[11] Official Journal of the European Union (2004). Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, L145/1-L145/44, as amended and corrected.
[12] Official Journal of the European Union (2006). Commission Directive 2006/73/EC of 10 August 2006 implementing Directive 2004/39/EC of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive, L241/26-L241/58.
[13] Official Journal of the European Union (2006). Commission Directive 2006/73/EC, Preamble.
[14] European Commission (2008). Lamfalussy League Table – Transposition of Lamfalussy Directives: State of play as at 19/12/2008, p.1. http://ec.europa.eu/finance/securities/docs/transposition/table_en.pdf.
[15] Official Journal of the European Union (2003). Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse), L96/16-L96/25, as amended.
[16] Official Journal of the European Union (2003). Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC, L345/64-L345/89, as amended.
[17] Official Journal of the European Union (2004). Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC, L390/38-L390/57, as amended.
[18] European Commission (2015). Consultation Document: Review of the Prospectus Directive, Brussels, 18/02/15. http://ec.europa.eu/finance/consultations/2015/prospectus-directive/docs/consultation-document_en.pdf.
[19] Official Journal of the European Union (2004), Commission Regulation (EC) No 809/2004 of 29 April 2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards information contained in prospectuses as well as the format, incorporation by reference and publication of such prospectuses and dissemination of advertisements, L149/1-L149/126, as amended.
[20] Official Journal of the European Communities (2001). Commission Decision 2001/528/EC of 6 June 2001 establishing the European Securities Committee, L191/45-L191/46, Article 1.
[21] Official Journal of the European Communities (2001). Commission Decision 2001/527/EC of 6 June 2001 establishing the Committee of European Securities Regulators, L191/43-L191/44, Article 1.
[22] Official Journal of the European Union (2004). Commission Decision 2004/5/EC of 5 November 2003 establishing the Committee of European Banking Supervisors, L3/28-L3/29, Article 2.
[23] Official Journal of the European Union (2004). Commission Decision 2004/6/EC of 5 November 2003 establishing the Committee on European Insurance and Occupational Pensions Supervisors, L3/30-L3/31, Article 2.
[24] Official Journal of the European Union (2004). Commission Decision 2004/5/EC, Article 1.
[25] Official Journal of the European Union (2004). Commission Decision 2004/6/EC, Article 1.
[26] Official Journal of the European Union (2004). Commission Decision of 5 November 2003 amending Decision 2001/527/EC establishing the Committee of European Securities Regulators, L3/32, Article 1(1).
[27] Official Journal of the European Communities (1987). Council Decision 87/373/EEC of 13 July 1987 laying down the procedures for the exercise of implementing powers conferred on the Commission, L97/33-L97/35, Article 1.
[28] Official Journal of the European Communities (1999). Council Decision 1999/468/EC of 28 June 1999 laying down the procedures for the exercise of implementing powers conferred on the Commission, L184/23-L184/26, Article 1.
[29] Official Journal of the European Communities (1999). Council Decision 1999/468/EC, Article 3.
[30] Official Journal of the European Communities (1999). Council Decision 1999/468/EC, Article 4.
[31] Official Journal of the European Communities (1999). Council Decision 1999/468/EC, Article 5.
[32] Official Journal of the European Communities (1999). Council Decision 1999/468/EC, Article 6.
[33] Official Journal of the European Union (2006). Council Decision 2006/512/EC of 17 July 2006 amending Decision 1999/468/EC laying down the procedures for the exercise of implementing powers conferred upon the Commission, L200/11-L200/13, Article 1(7).
[34] Official Journal of the European Union (2011). Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers, L55/13-L55/18, Recitals 5-8 and Articles 3-5 and 16.
[35] Official Journal of the European Communities (1987). Council Decision 87/373/EEC, Article 2.
[36] Official Journal of the European Communities (1999). Council Decision 1999/468/EEC, Articles 3-5.
[37] Official Journal of the European Union (2006). Council Decision 2006/512/EC, Article 1(7).
[38] Official Journal of the European Union (2011). Regulation (EU) No 182/2011, Article 3(2).
[39] Official Journal of the European Communities (1987), Council Decision 87/373/EEC, Preamble.
[40] European Commission (2001). Press release: Financial services: Commission proposes Directive on insider dealing and market manipulation, IP/01/758, Brussels, 30/05/01, pp.1-2. http://europa.eu/rapid/press-release_IP-01-758_en.htm?locale=en.
[41] European Commission (2001). The Market Abuse Directive – Frequently Asked Questions, MEMO/01/203, Brussels, 30/05/01, p.1. http://europa.eu/rapid/pressrelease_MEMO-01-203_en.htm?locale=en.
[42] Official Journal of the European Union (2003). Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse), L96/16-L96/25, original version, Recitals 1 and 2.
[43] Official Journal of the European Union (2003). Directive 2003/6/EC (original version), Article 2(1).
[44] Official Journal of the European Union (2003). Directive 2003/6/EC (original version), Article 1(1).
[45] Official Journal of the European Union (2003). Directive 2003/6/EC (original version), Article 1(1).
[46] Official Journal of the European Union (2003). Directive 2003/6/EC (original version), Article 1(3).
[47] Official Journal of the European Union (2003). Directive 2003/6/EC (original version), Article 5.
[48] Official Journal of the European Union (2003). Directive 2003/6/EC (original version), Article 1(2)(a).
[49] Official Journal of the European Union (2003). Directive 2003/6/EC (original version), Article 1(2)(b).
[50] Official Journal of the European Union (2003). Directive 2003/6/EC (original version), Article 1(2)(c).
[51] Official Journal of the European Union (2003). Directive 2003/6/EC (original version), Articles 8 and 17(2).
[52] Official Journal of the European Communities (1999). Council Decision 1999/468/EC, Article 5.Official Journal of the European Union (2003), Directive 2003/6/EC (original version), Article 14(1).
[54] European Commission (2001). Press release: Financial services: Commission proposes Directive on insider dealing and market manipulation, p.2.
[55] European Commission (2001). Proposed Directive on Prospectuses – Frequently Asked Questions, MEMO/01/204, Brussels, 30/05/01, p.1. http://europa.eu/rapid/pressrelease_MEMO-01-204_en.htm?locale=en.
[56] European Commission (2001). The Proposed Prospectus Directive: Frequently asked questions, MARKT F2/HGD/NDB D(2001), Brussels, 28/09/01, p.2. http://ec.europa.eu/internal_market/securities/docs/prospectus/2001-09-faq_en.pdf.
[57] Official Journal of the European Union (2003). Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC, L345/64-L345/89, original version, Article 3(1).
[58] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Article 3(2).
[59] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Article 3(3).
[60] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Article 5(1).
[61] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Article 8(2).
[62] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Article 5(2).
[63] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Article 6(2).
[64] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Article 8(1)(a).
[65] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Article 8(1)(b).
[66] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Article 9(1).
[67] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Article 16(1).
[68] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Articles 10(1) and 10(3).
[69] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Article 13(1).
[70] Official Journal of the European Union (2003). Directive 2003/71/EC (original version), Article 25(1).
[71] European Commission (2002). Press release: Investment services: proposed new Directive would protect investors and help investment firms operate EU-wide, IP/02/1706, Brussels, 19/11/02, p.1. http://europa.eu/rapid/press-release_IP-02-1706_en.htm?locale=en.
[72] European Commission (2002). Proposal for Directive on investment services and regulated markets – frequently asked questions, MEMO/02/257, Brussels, 19/11/02, p.1. http://europa.eu/rapid/press-release_MEMO-02-257_en.htm?locale=en.
[73] European Commission (2004), Press release: Investment Services: final adoption of Directive is boost for investment firms and their clients, IP/04/546, Brussels, 27/04/04, p.1. http://europa.eu/rapid/press-release_IP-04-546_en.htm?locale=en.
[74] Official Journal of the European Union (2004). Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, L145/1-L145/44, as amended to 21/09/07, Article 5(1)-(2).
[75] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 6(1).
[76] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 6(3).
[77] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 5(4).
[78] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 7(2).
[79] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 9(3).
[80] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 10(1).
[81] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 10(2).
[82] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 11.
[83] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 12.
[84] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Articles 13(1) and 13(5).
[85] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 14(2).
[86] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 16(1).
[87] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 16(2).
[88] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 17(1).
[89] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 18(1).
[90] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 18(2).
[91] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 19(1).
[92] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 19(8).
[93] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 21(1).
[94] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 21(2).
[95] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 22(1).
[96] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 24(1).
[97] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 24(2).
[98] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 25(1).
[99] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 25(2).
[100] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 25(3).
[101] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 25(4).
[102] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 26(1).
[103] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 26(1)-(2).
[104] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 26(2).
[105] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 27(1).
[106] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 27(5).
[107] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 28(1).
[108] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 29(1).
[109] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 30(1).
[110] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 31(1).
[111] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 31(2).
[112] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 31(3).
[113] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 31(5).
[114] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 31(6).
[115] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 32(1).
[116] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 32(7).
[117] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 32(2).
[118] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 32(3).
[119] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 32(4).
[120] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 32(5).
[121] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 32(6).
[122] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 33(1).
[123] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 33(2).
[124] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 34(1).
[125] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 35(1).
[126] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 36(1).
[127] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 36(2).
[128] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 37(1).
[129] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 38(1).
[130] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 38(2).
[131] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 39.
[132] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 40(1)-(2).
[133] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 42(1).
[134] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 43(1).
[135] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 43(1)-(2).
[136] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 43(2).
[137] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 44(1).
[138] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 45(1).
[139] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 42(6).
[140] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 42(7).
[141] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 46(1).
[142] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 50(1).
[143] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 50(2).
[144] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 51(1).
[145] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 52(1).
[146] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 54(1).
[147] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 54(3).
[148] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 56(1).
[149] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 57(1).
[150] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 60(1)-(2).
[151] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 60(3).
[152] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 62(4).
[153] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 62(1).
[154] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 62(2).
[155] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 62(3).
[156] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 63(1).
[157] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 63(2).
[158] Official Journal of the European Union (2004). Directive 2004/39/EC (as amended to 21/09/07), Article 70.
[159] Official Journal of the European Communities (2001). Directive 2001/34/EC of the European Parliament and of the Council of 28 May 2001 on the admission of securities to official stock exchange listing and on information to be published on those securities, L184/1-L184/66, as amended to 24/03/05, Recital 1.
[160] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 111(1).
[161] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 5.
[162] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 6.
[163] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 8(1).
[164] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 8(2).
[165] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Articles 8(3) and 9.
[166] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 12.
[167] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 11(2).
[168] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 14.
[169] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 16(1).
[170] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 18(1).
[171] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 18(2).
[172] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 19(1).
[173] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 42.
[174] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 43(1).
[175] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 43(2).
[176] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 43(4).
[177] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 44.
[178] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 45.
[179] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 46(1).
[180] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 47.
[181] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 48(1).
[182] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 48(4).
[183] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 48(5).
[184] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 49(1).
[185] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 64.
[186] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 53.
[187] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 54(2).
[188] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 55(1).
[189] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 58(1).
[190] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 58(2).
[191] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 59(1).
[192] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 59(2).
[193] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 60.
[194] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 61.
[195] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 62.
[196] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 106.
[197] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 107(1).
[198] Official Journal of the European Communities (2001). Directive 2001/34/EC (as amended to 24/03/05), Article 107(2).
[199] European Commission (2003). Press release: Securities markets: Commission proposes Directive to increase investor protection and transparency, IP/03/436, Brussels, 26/03/03, p.1. http://europa.eu/rapid/press-release_IP-03-436_en.htm?locale=en.
[200] European Commission (2004). Press release: Financial services: final adoption of Transparency Directive will help investors and boost trust in markets, IP/04/1508, Brussels, 17/12/04, p.1. http://europa.eu/rapid/press-release_IP-04-1508_en.htm?locale=en.
[201] Official Journal of the European Union (2004). Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC, L390/38-L390/57, original version, Article 1(1).
[202] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 1(2).
[203] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 3.
[204] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Recitals 7-8.
[205] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 4(1).
[206] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 4(2).
[207] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 4(4).
[208] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 5(1).
[209] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Articles 5(2) and 5(4).
[210] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 5(3).
[211] Official Journal of the European Union (2007). Commission Directive 2007/14/EC of 8 March 2007 laying down detailed rules for the implementation of certain provisions of Directive 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, L69/27-L69/36, original version, Article 3(2).
[212] Official Journal of the European Union (2007). Commission Directive 2007/14/EC (original version), Article 3(3).
[213] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 5(5).
[214] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 6(1).
[215] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 6(2).
[216] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 7.
[217] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 8(1).
[218] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 9(1).
[219] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 9(5).
[220] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 12(1).
[221] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 12(2)(a).
[222] Official Journal of the European Union (2007). Commission Directive 2007/14/EC (original version), Article 9.
[223] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 13(1).
[224] Official Journal of the European Union (2007). Commission Directive 2007/14/EC (original version), Article 11(1).
[225] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 16(1).
[226] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 16(2).
[227] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 16(3).
[228] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 17(1).
[229] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 17(2).
[230] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 18(1).
[231] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 18(2).
[232] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 23(1).
[233] Official Journal of the European Union (2007). Commission Directive 2007/14/EC (original version), Article 16.
[234] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 23(2).
[235] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 24(4).
[236] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 25(1).
[237] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 25(3).
[238] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 25(2).
[239] Official Journal of the European Union (2004). Directive 2004/109/EC (original version), Article 25(4).
[240] Official Journal of the European Communities (1985). Council Directive 85/611/EEC of 20 December 1985 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), L375/3-L375/17, original version, Recital 2.
[241] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (original version), Recital 3.
[242] Official Journal of the European Communities (1985). Council Directive 85/611/EEC of 20 December 1985 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), L375/3-L375/17, as amended to 19/03/08, Article 1(2).
[243] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 1(5).
[244] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 2(1).
[245] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 1(7).
[246] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 4(1).
[247] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 4(2).
[248] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 4(3).
[249] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 4(3).
[250] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 4(3a).
[251] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 5(1).
[252] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 5(2) and Annex II.
[253] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 5(3).
[254] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 5a(1).
[255] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 5a(2).
[256] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 5b(1).
[257] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 5b(3).
[258] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 5d(1).
[259] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 5d(2).
[260] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 5f(1).
[261] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 5h.
[262] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6(1).
[263] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6(2).
[264] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6a(1).
[265] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6a(2).
[266] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6a(3).
[267] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6a(4).
[268] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6a(5).
[269] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6b(1).
[270] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6b(2).
[271] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6b(3).
[272] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6c(2).
[273] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6c(3).
[274] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6c(4).
[275] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6c(5).
[276] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6c(8).
[277] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6c(6).
[278] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 6c(7).
[279] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 12.
[280] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Articles 13 and 1(2).
[281] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 13a(1).
[282] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Articles 13b and 5h.
[283] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 13b.
[284] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 13c.
[285] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Articles 7(1) and 14(1).
[286] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Articles 7(3) and 14(3).
[287] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 14(4).
[288] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Articles 8(1) and 15(1).
[289] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Articles 8(2) and 15(2).
[290] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Articles 9 and 16.
[291] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Articles 10(1) and 17(1).
[292] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Articles 10(2) and 17(2).
[293] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 19(1).
[294] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 19(2)(a).
[295] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 19(2)(c).
[296] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 19(2)(d).
[297] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 19(4).
[298] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 21(1).
[299] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 21(3).
[300] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 41(1).
[301] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 22(1).
[302] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 22(1).
[303] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 22(2).
[304] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 22(5).
[305] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 23(1)
[306] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 22a(1).
[307] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 22a(2).
[308] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 24(1).
[309] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 24(2).
[310] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 24a(1).
[311] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 25(1).
[312] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 25(2).
[313] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 27(1).
[314] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 28(1).
[315] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Articles 28(2) and 29(1).
[316] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 30.
[317] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 47.
[318] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 32.
[319] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 31.
[320] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 33(1).
[321] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 33(2).
[322] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 33(3).
[323] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 36(1).
[324] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 36(2)(a).
[325] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 36(2)(b).
[326] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 37(1).
[327] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 37(2)(a).
[328] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 37(2)(b).
[329] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 38.
[330] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 39.
[331] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 40.
[332] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 43.
[333] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 49(3).
[334] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 49(4).
[335] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 50(1).
[336] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 50(2).
[337] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 50(3).
[338] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 50(5).
[339] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 50(6).
[340] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 50(4).
[341] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 50(8).
[342] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 52a(1).
[343] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 51(1).
[344] Official Journal of the European Communities (1985). Council Directive 85/611/EEC (as amended to 19/03/08), Article 51(2).
[345] Official Journal of the European Union (2006). Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast), L177/1-L177/200, original version, Article 6.
[346] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 7.
[347] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 8.
[348] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 9(1).
[349] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Articles 9(2) and 14.
[350] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 10(1).
[351] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 11(1).
[352] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 11(2).
[353] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 12(1).
[354] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 12(2).
[355] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 12(3).
[356] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 13.
[357] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Articles 18(2) and 14.
[358] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 15(1)-(2).
[359] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 15(3).
[360] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 22(1).
[361] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 22(2).
[362] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Articles 23 and 24(1).
[363] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 24(1).
[364] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Articles 24(1), 25(1) and 28(1).
[365] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 25(1).
[366] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 25(2).
[367] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 25(3).
[368] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 25(4).
[369] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 16.
[370] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 26(1).
[371] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 26(2).
[372] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 29.
[373] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 30(1).
[374] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 30(2).
[375] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 30(3).
[376] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 31.
[377] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 32.
[378] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 33.
[379] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 34.
[380] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 35.
[381] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 28(1). [382] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 28(2).
[383] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 40(1).
[384] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 41(1).
[385] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 44(1).
[386] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 45.
[387] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 46.
[388] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 47.
[389] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 48.
[390] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 49.
[391] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 50.
[392] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 52.
[393] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 68(1).
[394] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 68(2).
[395] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 75.
[396] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Articles 76 and 84(1).
[397] Official Journal of the European Union (2006). Directive 2006/49/EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions (recast), L177/201-L177/255, original version, Articles 18(1) and 3(1)(c).
[398] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Articles 102(1), 103, 104(1) and 105(1).
[399] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 120(1).
[400] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 120(2).
[401] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 120(3).
[402] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 123.
[403] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 145(1).
[404] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Annex XII Part 2, Points 1 and 6.
[405] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 145(2).
[406] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Annex XII Part 3, Point 3, and Article 105(1).
[407] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 145(3).
[408] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 145(4).
[409] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 146(1), and Annex XII Part 1, Point 1.
[410] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 146(2), and Annex XII Part I, Points 2 and 3.
[411] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 147(1).
[412] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 147(2), and Annex XII Part I, Point 4.
[413] Official Journal of the European Union (2006). Directive 2006/48/EC (original version), Article 149.
[414] Official Journal of the European Communities (2001). Directive 2001/24/EC of the European Parliament and of the Council of 4 April 2001 on the reorganisation and winding up of credit institutions, L125/15-L125/23, original version, Article 1.
[415] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 3(1).
[416] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 3(2).
[417] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 4.
[418] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 5.
[419] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 6(5).
[420] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 8(1).
[421] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 9(1).
[422] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 9(2).
[423] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 10(1).
[424] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 10(2).
[425] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 11(1).
[426] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 11(2).
[427] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 12(1).
[428] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 12(2).
[429] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 14(1).
[430] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 16(1).
[431] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 16(2).
[432] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 18.
[433] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 19(1).
[434] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 19(2).
[435] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 33; Official Journal of the European Communities (2000). Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions, L126/1-L126/59, as amended to 09/03/06, Article 30(1).
[436] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 20.
[437] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 21(1).
[438] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 22(1).
[439] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 22(2).
[440] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 23(1).
[441] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Articles 21(4), 22(3), 23(2) and 10(2)(l).
[442] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 24.
[443] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 25.
[444] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 28(2).
[445] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 28(3).
[446] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Article 31.
[447] Official Journal of the European Union (2007). Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC, L319/1-L319/36, original version, Recital 4.
[448] Official Journal of the European Union (2007). Directive 2007/64/EC (original version), Recitals 2 and 3.
[449] Official Journal of the European Union (2007). Directive 2007/64/EC (original version), Recital 10, and Articles 5 and 10(1).
[450] Official Journal of the European Union (2007). Directive 2007/64/EC (original version), Recital 8, and Article 1(1).
[451] Official Journal of the European Union (2007). Directive 2007/64/EC (original version), Article 25(1).
[452] Official Journal of the European Union (2007). Directive 2007/64/EC (original version), Article 41(1).
[453] Official Journal of the European Union (2007). Directive 2007/64/EC (original version), Article 42.
[454] Official Journal of the European Union (2007). Directive 2007/64/EC (original version), Article 46.
[455] Official Journal of the European Union (2007). Directive 2007/64/EC (original version), Article 54(1).
[456] Official Journal of the European Union (2007). Directive 2007/64/EC (original version), Article 60(1).
[457] Official Journal of the European Union (2007). Directive 2007/64/EC (original version), Article 61(2).
[458] Official Journal of the European Communities (2000). Directive 2000/46/EC of the European Parliament and of the Council of 18 September 2000 on the taking up, pursuit and prudential supervision of the business of electronic money institutions, L275/39-L275/43, Recital 2.
[459] Official Journal of the European Communities (2000). Directive 2000/46/EC, Article 1(3)(b).
[460] Official Journal of the European Communities (2000). Directive 2000/46/EC, Recital 3.
[461] Official Journal of the European Communities (2000). Directive 2000/46/EC, Recital 4.
[462] Official Journal of the European Communities (2000). Directive 2000/46/EC, Article 3(1).
[463] Official Journal of the European Communities (2000). Directive 2000/46/EC, Article 4(1).
[464] Official Journal of the European Communities (2000). Directive 2000/46/EC, Article 4(2).
[465] Official Journal of the European Communities (2000). Directive 2000/46/EC, Article 5(1).
[466] Official Journal of the European Communities (2000). Directive 2000/46/EC, Article 7.
[467] Official Journal of the European Communities (2000). Directive 2000/46/EC, Article 8.
[468] Official Journal of the European Communities (2002). Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements, L168/43-L168/50, original version, Recital 3.
[469] Official Journal of the European Communities (2002). Directive 2002/47/EC (original version), Article 3(1).
[470] Official Journal of the European Communities (2002). Directive 2002/47/EC (original version), Article 1(4)(a).
[471] Official Journal of the European Communities (2002). Directive 2002/47/EC (original version), Article 1(2)(a)-(d).
[472] Official Journal of the European Communities (2002). Directive 2002/47/EC (original version), Article 4(1).
[473] Official Journal of the European Communities (2002). Directive 2002/47/EC (original version), Article 4(2).
[474] Official Journal of the European Communities (2002). Directive 2002/47/EC (original version), Article 4(4).
[475] Official Journal of the European Communities (2002). Directive 2002/47/EC (original version), Article 5(1).
[476] Official Journal of the European Communities (2002). Directive 2002/47/EC (original version), Article 2(1)(m).
[477] Official Journal of the European Communities (2002). Directive 2002/47/EC (original version), Article 5(2).
[478] Official Journal of the European Communities (2002). Directive 2002/47/EC (original version), Article 5(5).
[479] Official Journal of the European Communities (2002). Directive 2002/47/EC (original version), Article 6.
[480] Official Journal of the European Communities (2002). Directive 2002/47/EC (original version), Article 7(1).
[481] Official Journal of the European Union (2003). Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council, L35/1-L35/27, as amended to 24/03/05, Recital 3.
[482] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Recitals 1 and 2.
[483] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Recital 13.
[484] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Recital 14.
[485] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 2(14).
[486] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 4(1).
[487] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 5(2); Official Journal of the European Communities (1983). Seventh Council Directive 83/349/EEC of 13 June 1983 based on the Article 54(3)(g) of the Treaty on consolidated accounts, L193/1-L193/17, as amended to 21/12/06, Articles 12(1) and 1.
[488] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 5(2).
[489] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 5(3).
[490] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 10(1).
[491] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 11(1).
[492] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 6(2).
[493] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Annex I, Paragraph 1.
[494] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Annex I, Paragraph 2.
[495] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Annex I, Title II.
[496] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Articles 7(2) and 8(2).
[497] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Annex II.
[498] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 8(2).
[499] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 9(1).
[500] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 9(2).
[501] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 9(3).
[502] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 9(4).
[503] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 9(5).
[504] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 12(1).
[505] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 12(1)(a)-(h).
[506] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 12(2),
[507] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 12(4).
[508] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 13.
[509] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 14(1).
[510] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 14(2).
[511] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 16.
[512] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 17(1).
[513] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 24/03/05), Article 17(2).
[514] Official Journal of the European Communities (2002). Directive 2002/65/EC of the European Parliament and of the Council of 23 September 2002 concerning the distance marketing of consumer financial services and amending Council Directive 90/619/EEC and Directives 97/7/EC and 98/27/EC, L271/16-L271/24, as amended to 05/12/07, Recitals 1, 3 and 4.
[515] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 1(1).
[516] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Recital 15 and Article 2(a).
[517] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 3(1).
[518] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 3(3).
[519] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 4(2).
[520] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 5(1).
[521] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 5(3).
[522] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 10(1).
[523] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 11.
[524] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 12(1).
[525] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 12(2).
[526] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 13(1).
[527] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 13(2).
[528] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 13(3).
[529] Official Journal of the European Communities (2002). Directive 2002/65/EC (as amended to 05/12/07), Article 14.
[530] Official Journal of the European Communities (1994). Directive 94/19/EC of the European Parliament and of the Council of 30 May 1994 on deposit-guarantee schemes, L135/5-L135/14, as amended to 24/03/05, Recitals 8 and 16-17; Official Journal of the European Communities (1997). Directive 97/9/EC of the European Parliament and of the Council of 3 March 1997 on investor-compensation schemes, L84/22-L84/31, original version, Recitals 4-5.
[531] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Recital 16 and Article 7(1); Official Journal of the European Communities (1997), Directive 97/9/EC (original version), Recitals 11-12 and Article 4(1).
[532] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 3(1).
[533] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 3(2).
[534] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 3(3).
[535] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 3(4).
[536] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 3(5).
[537] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 4(1).
[538] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 4(2).
[539] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 4(4).
[540] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 5.
[541] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 6(1).
[542] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 6(2).
[543] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 7(1).
[544] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 7(2).
[545] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 7(3).
[546] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Articles 7(4) and 7(1).
[547] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 7(6).
[548] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 8(1).
[549] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Article 9(1).
[550] Official Journal of the European Communities (1994). Directive 94/19/EC (as amended to 24/03/05), Articles 10(1) and 1(3).
[551] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 2(1).
[552] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 2(2).
[553] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 4(1).
[554] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 4(2).
[555] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 4(4).
[556] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 4(3).
[557] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 5(1).
[558] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 5(2).
[559] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 5(3).
[560] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 5(4).
[561] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 7(1).
[562] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 7(2).
[563] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 8(1).
[564] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 9(1).
[565] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 9(2).
[566] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 10(1).
[567] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 10(3).
[568] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 11(1).
[569] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 11(2).
[570] Official Journal of the European Communities (1997). Directive 97/9/EC (original version), Article 13.
[571] Official Journal of the European Communities (1998). Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems, L166/45-L166/50, original version, Recitals 1-3.
[572] Official Journal of the European Communities (1998). Directive 98/26/EC (original version), Recital 9.
[573] Official Journal of the European Communities (1998). Directive 98/26/EC (original version), Recital 11.
[574] Official Journal of the European Communities (1998). Directive 98/26/EC (original version), Article 1.
[575] Official Journal of the European Communities (1998). Directive 98/26/EC (original version), Article 3(1).
[576] Official Journal of the European Communities (1998). Directive 98/26/EC (original version), Article 3(2).
[577] Official Journal of the European Communities (1998). Directive 98/26/EC (original version), Article 5.
[578] Official Journal of the European Communities (1998). Directive 98/26/EC (original version), Article 7.
[579] Official Journal of the European Communities (1998). Directive 98/26/EC (original version), Article 8.
[580] Official Journal of the European Communities (1998). Directive 98/26/EC (original version), Article 9(1).
[581] Official Journal of the European Communities (1998). Directive 98/26/EC (original version), Article 9(2).

Chapter Two

[1] G20 (2007). The Group of Twenty: a History, pp.8-27. http://www.g20.utoronto.ca/docs/g20history.pdf.
[2] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Washington D.C., 15/11/08, Paragraphs 1-2, p.1. https://g20.org/wp-content/uploads/ 2014/12/Washington_Declaration_0.pdf.
[3] H. Tietmeyer (1999). International Cooperation and Coordination in the Area of Financial Market Supervision and Surveillance, Report by Hans Tietmeyer, President of the Deutsche Bundesbank, 11/02/99, pp.1-3 and 6-7. http://www.financialstabilityboard.org/wp-content/uploads/r_9902.pdf.
[4] Financial Stability Board (2015). Our History. http://www.financialstabilityboard.org/about/history/.
[5] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Paragraph 9, p.3, and Action Plan, p.5.
[6] G20 (2009). London Summit – Leaders’ Statement, London, 02/04/09, Paragraph 15,p.3. https://www.imf.org/external/np/sec/pr/2009/pdf/g20_040209.pdf.
[7] G20 (2009). Declaration on Strengthening the Financial System – London Summit, London, 02/04/09, p.1. www.g20.utoronto.ca/2009/2009ifi.pdf.
[8] G20 (2009). Declaration on Strengthening the Financial System – London Summit, p.1. [9] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Paragraphs 3-4, p.1.
[10] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Paragraph 5, p.1.
[11] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Paragraph 6, p.1.
[12] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Paragraph 7, p.2.
[13] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Paragraph 8, p.2.
[14] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Paragraph 9, p.3.
[15] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Action Plan, p.1.
[16] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Action Plan, p.1.
[17] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Action Plan, pp.2-3.
[18] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Action Plan, pp.2-3.
[19] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Action Plan, p.4.
[20] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Action Plan, pp.4-5.
[21] G20 (2008). Declaration Summit on Financial Markets and the World Economy, Action Plan, p.5.
[22] G20 (2009). London Summit – Leaders’ Statement, Paragraph 15, pp.3-4. [23] G20 (2009). Declaration on Strengthening the Financial System – London Summit, p.2.
[24] G20 (2009). Declaration on Strengthening the Financial System – London Summit, pp.2-3.
[25] G20 (2009). Declaration on Strengthening the Financial System – London Summit, pp.3-4.
[26] G20 (2009). Declaration on Strengthening the Financial System – London Summit, p.4. [27] G20 (2009). Declaration on Strengthening the Financial System – London Summit, pp.4-5.
[28] G20 (2009). Declaration on Strengthening the Financial System – London Summit, pp.5-6.
[29] G20 (2009). Declaration on Strengthening the Financial System – London Summit, p.6.
[30] G20 (2009). Leaders’ Statement: The Pittsburgh Summit, 25/09/09, Paragraphs 1-6, p.1. https://g20.org/wp-content/uploads/2014/12/Pittsburgh_Declaration_0.pdf.
[31] G20 (2009). Leaders’ Statement: The Pittsburgh Summit, Paragraph 50, p.19.
[32] G20 (2009). Leaders’ Statement: The Pittsburgh Summit, Paragraph 17, p.2.
[33] G20 (2009). Leaders’ Statement: The Pittsburgh Summit, Paragraph 13, pp.8-9.
[34] G20 (2009). Leaders’ Statement: The Pittsburgh Summit, p.8.
[35] G20 (2009). Leaders’ Statement: The Pittsburgh Summit, pp.8-9.
[36] G20 (2009). Leaders’ Statement: The Pittsburgh Summit, p.9.
[37] G20 (2009). Leaders’ Statement: The Pittsburgh Summit, p.9.
[38] G20 (2009). Leaders’ Statement: The Pittsburgh Summit, Paragraphs 14-16, pp.9-10.
[39] G20 (2010). The G-20 Toronto Summit: Declaration, 27/06/10, Paragraph 16, p.4. http://www.g20.utoronto.ca/2010/g20_declaration_en.pdf.
[40] G20 (2010). The G-20 Toronto Summit: Declaration, Paragraphs, pp.17-18 and 20-22, pp.4-5.
[41] G20 (2010). The G-20 Toronto Summit: Declaration, Paragraph 18, p.4, and Annex II, Paragraph 6, pp.15-16.
[42] G20 (2010). The G-20 Toronto Summit: Declaration, Paragraph 18, p.4, and Annex II, Paragraph 7, p.16.
[43] G20 (2010). The G-20 Toronto Summit: Declaration, Paragraph 18, p.4, and Annex II, Paragraph 8, p.16.
[44] G20 (2010). The G-20 Toronto Summit: Declaration, Paragraph 19, p.4, and Annex II, Paragraph 26, p.19.
[45] G20 (2010). The G-20 Toronto Summit: Declaration, Paragraph 20, pp.4-5, and Annex II, Paragraph 15, p.17.
[46] G20 (2010). The G-20 Toronto Summit: Declaration, Paragraph 21, p.5, and Annex II, Paragraph 16, p.17.
[47] G20 (2010). The G-20 Toronto Summit: Declaration, Annex II, Paragraph 17, pp.17-18.
[48] G20 (2010). The G-20 Toronto Summit: Declaration, Annex II, Paragraph 18, p.18.
[49] G20 (2010). The G-20 Toronto Summit: Declaration, Annex II, Paragraphs 19-20, p.18.
[50] G20 (2010). The G-20 Toronto Summit: Declaration, Annex II, Paragraph 32, p.20.
[51] G20 (2010). The G-20 Toronto Summit: Declaration, Annex II, Paragraph 33, p.20.
[52] G20 (2010). The G-20 Toronto Summit: Declaration, Annex II, Paragraph 34, p.20.
[53] G20 (2010). The G-20 Toronto Summit: Declaration, Annex II, Paragraph 35, p.20.
[54] G20 (2010). The G-20 Toronto Summit: Declaration, Annex II, Paragraph 36, p.20.
[55] G20 (2010). The G-20 Toronto Summit: Declaration, Paragraph 22, p.5.
[56] G20 (2010). The G20 Seoul Summit: Leaders’ Declaration, 12/11/10, Paragraph 9, p.2.https://g20.org/wp-content/uploads/2014/12/Seoul_Summit_Leaders_Declaration.pdf.
[57] G20 (2010). The Seoul Summit Document, pp.6-9. https://g20.org/wp-content/uploads/2014/12/Seoul_Summit_Document.pdf.
[58] G20 (2010). The Seoul Summit Document, Paragraph 29, p.7.
[59] G20 (2010). The Seoul Summit Document, Paragraph 30, p.7.
[60] G20 (2010). The Seoul Summit Document, Paragraph 31, pp.7-8.
[61] G20 (2010). The Seoul Summit Document, Paragraphs 32-33, p.8.
[62] G20 (2010). The Seoul Summit Document, Paragraph 34, p.8.
[63] G20 (2010). The Seoul Summit Document, Paragraph 36, p.8.
[64] G20 (2010). The Seoul Summit Document, Paragraph 37, p.8.
[65] G20 (2010). The Seoul Summit Document, Paragraph 38, p.9.
[66] G20 (2010). The Seoul Summit Document, Paragraph 39, p.9.
[67] G20 (2010). The Seoul Summit Document, Paragraph 40, p.9.
[68] G20 (2010). The Seoul Summit Document, Paragraph 41, pp.9-10.
[69] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, 04/11/11, Paragraph 22, p.4.
[70] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, pp.5-8.
[71] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 23, p.5.
[72] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 24, p.5.
[73] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 25, p.5.
[74] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 26, p.5.
[75] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 27, pp.5-6.
[76] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 28, p.6.
[77] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 29, p.6.
[78] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 30, p.6.
[79] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 31, pp.6-7.
[80] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 32, p.7.
[81] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 33, p.7.
[82] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 34, p.7.
[83] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 35, pp.7-8.
[84] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraph 36, p.8.
[85] G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Paragraphs 37-38, pp.8-9.
[86] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, 19/06/12, p.6.
[87] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Paragraphs 36-37, p.6.
[88] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Paragraph 39, pp.6-7.
[89] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Paragraphs 40 and 42-43, p.7.
[90] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Paragraph 44, pp.7-8.
[91] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Paragraph 45, p.8.
[92] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Paragraph 46, p.8.
[93] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Paragraph 48, p.8.
[94] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Paragraph 49, p.8.
[95] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Paragraph 50,
[96] pp.8-9.
[97] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Paragraphs 51 and 54, p.9.
[98] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Paragraphs 52-53, p.9.
[99] G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Paragraph 52, p.9.
[100] G20 (2013). Russia G20: G20 Leaders’ Declaration, 06/09/13, p.2.
[101] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 61, p.15.
[102] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 64, p.16.
[103] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 66, p.16.
[104] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 67, pp.16-17.
[105] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 68, p.17.
[106] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 69, p.17.
[107] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 70. p.17.
[108] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 71, p.17.
[109] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 72, p.18.
[110] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 73, p.18.
[111] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 74, p.18.
[112] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 76, p.18.
[113] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 77, pp.18-19.
[114] G20 (2013). Russia G20: G20 Leaders’ Declaration, Paragraph 114, p.27.
[115] G20 (2014). G20 Australia 2014: G20 Leaders’ Communiqué – Brisbane Summit, 16/11/14, Paragraph 12, p.2. https://g20.org/wp-content/uploads/2014/12/brisbane_g20_leaders_summit_communique1.pdf.
[116] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms –Finishing the Post-Crisis Agenda and Moving Forward, 04/02/15, p.1. http://www.financialstabilityboard.org/wp-content/uploads/FSB-Chair-letter-to-G20-February-2015.pdf.
[117] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms –Finishing the Post-Crisis Agenda and Moving Forward, p.2.
[118] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms – Finishing the Post-Crisis Agenda and Moving Forward, p.3.
[119] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms – Finishing the Post-Crisis Agenda and Moving Forward, p.3.
[120] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms – Progress on the Work Plan for the Antalya Summit, 05/10/15, p.3. http://www.financialstabilityboard.org/wp-content/uploads/FSB-Chairs-letter-to-G20-Mins-and-Govs-5-October-2015.pdf.
[121] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms – Progress on the Work Plan for the Antalya Summit, p.3.
[122] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms – Finishing the Post-Crisis Agenda and Moving Forward, p.3.
[123] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms – Progress on the Work Plan for the Antalya Summit, p.4.
[124] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms – Progress on the Work Plan for the Antalya Summit, p.4.
[125] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms – Finishing the Post-Crisis Agenda and Moving Forward, p.4.
[126] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms – Progress on the Work Plan for the Antalya Summit, pp.4-5.
[127] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms – Progress on the Work Plan for the Antalya Summit, p.5.
[128] G20 (2015). G20 Turkey 2015: G20 Leaders’ Communiqué – Antalya Summit, 16/11/15, Paragraph 13, p.3. http://www.g20.utoronto.ca/2015/151116-communique.html.
[129] G20 (2015). G20 Turkey 2015: G20 Leaders’ Communiqué – Antalya Summit, Paragraph 14, p.3.
[130] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Leaders: Financial Reforms – Achieving and Sustaining Resilience for All, 09/11/15. http://www.financialstabilityboard.org/wp-content/uploads/FSB-Chairsletter-to-G20-Leaders-9-Nov.pdf.
[131] Financial Stability Board (2015). Implementation and effects of the G20 financial regulatory reforms: Report of the Financial Stability Board to G20 Leaders, 09/11/15. http://www.financialstabilityboard.org/wp-content/uploads/Report-on-implementationand-effects-of-reforms-final.pdf.
[132] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Leaders: Financial Reforms – Achieving and Sustaining Resilience for All, pp.1-2.
[133] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Leaders: Financial Reforms – Achieving and Sustaining Resilience for All, p.2.
[134] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Leaders: Financial Reforms – Achieving and Sustaining Resilience for All, p.3.
[135] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Leaders: Financial Reforms – Achieving and Sustaining Resilience for All, p.4.
[136] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Leaders: Financial Reforms – Achieving and Sustaining Resilience for All, p.5.
[137] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Leaders: Financial Reforms – Achieving and Sustaining Resilience for All, p.6.
[138] G20 (2015). G20 Turkey 2015: G20 Leaders’ Communiqué – Antalya Summit, p.11.
[139] Financial Stability Board (2015). Letter from the Chairman of the Financial Stability Board to G20 Leaders: Financial Reforms – Achieving and Sustaining Resilience for All, p.7.
[140] Financial Stability Board (2015). Implementation and effects of the G20 financial regulatory reforms: Report of the Financial Stability Board to G20 Leaders, pp.10 and 20.
[141] Financial Stability Board (2015). Implementation and effects of the G20 financial regulatory reforms: Report of the Financial Stability Board to G20 Leaders, pp.3-4.
[142] Financial Stability Board (2015). Implementation and effects of the G20 financial regulatory reforms: Report of the Financial Stability Board to G20 Leaders, p.19.
[143] Financial Stability Board (2015). Implementation and effects of the G20 financial regulatory reforms: Report of the Financial Stability Board to G20 Leaders, p.2.
[144] Financial Stability Board (2015). Implementation and effects of the G20 financial regulatory reforms: Report of the Financial Stability Board to G20 Leaders, pp.3-4.
[145] Basel Committee on Banking Supervision (2010). Report and Recommendations of the Cross-border Bank Resolution Group: March 2010, Recommendation 1, p.1. http://www.bis.org/publ/bcbs169.pdf.
[146] Basel Committee on Banking Supervision (2010). Report and Recommendations of the Cross-border Bank Resolution Group: March 2010, Recommendation 2, p.1.
[147] Basel Committee on Banking Supervision (2010). Report and Recommendations of the Cross-border Bank Resolution Group: March 2010, Recommendation 3, p.1.
[148] Basel Committee on Banking Supervision (2010). Report and Recommendations of the Cross-border Bank Resolution Group: March 2010, Recommendation 4, p.1.
[149] Basel Committee on Banking Supervision (2010). Report and Recommendations of the Cross-border Bank Resolution Group: March 2010, Recommendation 5, p.2.
[150] Basel Committee on Banking Supervision (2010). Report and Recommendations of the Cross-border Bank Resolution Group: March 2010, Recommendation 6, p.2.
[151] Basel Committee on Banking Supervision (2010). Report and Recommendations of the Cross-border Bank Resolution Group: March 2010, Recommendation 7, p.2.
[152] Basel Committee on Banking Supervision (2010). Report and Recommendations of the Cross-border Bank Resolution Group: March 2010, Recommendation 8, p.2.
[153] Basel Committee on Banking Supervision (2010). Report and Recommendations of the Cross-border Bank Resolution Group: March 2010, Recommendation 9, pp.2-3.
[154] Basel Committee on Banking Supervision (2010). Report and Recommendations of the Cross-border Bank Resolution Group: March 2010, Recommendation 10, p.3.
[155] G20 (2010). The Seoul Summit Document, Paragraph 32, p.8.
[156] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, p.1.
[157] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, p.1.
[158] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraphs 1.1-1.2, p.5.
[159] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 2.1, pp.5-6.
[160] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraphs 2.3-2.7, p.6.
[161] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraphs 3.2-3.4, pp.7-8.
[162] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 3.8, p.10.
[163] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 3.9, p.10.
[164] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 4.1, p.10.
[165] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 4.2, p.10.
[166] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 4.3, p.10.
[167] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 5.1, p.11.
[168] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 5.2, p.11.
[169] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 5.3, p.11.
[170] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 5.5, pp.11-12.
[171] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 5.6, p.12.
[172] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 6.1, p.12.
[173] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 6.2, p.12.
[174] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 6.3, p.12.
[175] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 6.4, p.12.
[176] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 6.5, p.12.
[177] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 7.1, p.13.
[178] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 7.2, p.13.
[179] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 7.3, p.13.
[180] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 7.4, p.13.
[181] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 7.5, p.13.
[182] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 7.6, pp.13-14.
[183] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 7.7, p.14.
[184] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 8.1, p.14.
[185] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 9.1, pp.14-15.
[186] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 10.1, p.15.
[187] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 10.2, pp.15-16.
[188] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 10.3, p.16.
[189] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 10.4, p.16.
[190] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 10.5, p.16.
[191] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraphs 11.1-11.2 and 11.4, p.16.
[192] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 11.3, p.16.
[193] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 11.5, p.17.
[194] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 11.6, p.17.
[195] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 11.7, p.17.
[196] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 11.8, p.17.
[197] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 11.9, pp.17-18.
[198] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 11.10, p.18.
[199] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 11.11, p.18.
[200] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 11.12, p.18.
[201] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 12.1, p.18.
[202] Financial Stability Board (2011). Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011, Paragraph 12.2, p.18.
[203] Financial Stability Board (2014). Key Attributes of Effective Resolution Regimes for Financial Institutions (updated), 15/10/14, p.1. http://www.financialstability board.org/wp-content/uploads/r_141015.pdf.
[204] Financial Stability Board (2014). Key Attributes of Effective Resolution Regimes for Financial Institutions (updated), p.2.
[205] Financial Stability Board (2015). Implementation and effects of the G20 financial regulatory reforms: Report of the Financial Stability Board to G20 Leaders, p.21.
[206] Official Journal of the European Union (2014). Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations
(EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council, L173/190-L173/348, Article 130(1).
[207] Official Journal of the European Union (2014). Directive 2014/59/EU, Articles 1(1)(a) and 2(1)(23).
[208] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 1(1)(b). [209] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 1(1) (c)-(d).
[210] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 1(1)(e).
[211] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 3(1).
[212] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 3(2).
[213] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 3(8).
[214] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 5(5).
[215] Official Journal of the European Union (2014). Directive 2014/59/EU, Annex, Section A.
[216] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 10(1).
[217] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 10(4).
[218] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 11(1).
[219] Official Journal of the European Union (2014). Directive 2014/59/EU, Annex, Section B.
[220] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 12(1).
[221] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 12(3).
[222] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 13(1).
[223] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 13(4).
[224] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 10(6).
[225] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 13(3).
[226] Baber, G. (2012). International financial regulation: order or chaos?, Company Lawyer, 33(1), 17-18, at 17.

Chapter Three

[1] Official Journal of the European Union (2005). Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees, L79/9-L79/17, Recital 12.
[2] Official Journal of the European Union (2009). Commission Decision 2009/77/EC of 23 January 2009 establishing the Committee of European Securities Regulators, L25/18-L25/22, Recital 2.
[3] Official Journal of the European Union (2009). Commission Decision 2009/78/EC of 23 January 2009 establishing the Committee of European Banking Supervisors, L25/23-L25/27, Recital 2.
[4] Official Journal of the European Union (2009). Commission Decision 2009/79/EC of 23 January 2009 establishing the Committee of European Insurance and Occupational Pensions Supervisors, L25/28-L25/32, Recital 2.
[5] European Commission (2007). Review of the Lamfalussy process – Strengthening supervisory convergence, COM(2007) 727 final, 20/11/07. http://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=URISERV:l32056&from=CS.
[6] Official Journal of the European Union (2009). Commission Decision 2009/77/EC, Articles 1 and 17.
[7] Official Journal of the European Union (2009). Commission Decision 2009/78/EC, Articles 1 and 17.
[8] Official Journal of the European Union (2009). Commission Decision 2009/79/EC, Articles 1 and 17.
[9] Official Journal of the European Union (2009). Commission Decision 2009/77/EC, Article 2.
[10] Official Journal of the European Union (2009). Commission Decision 2009/78/EC, Article 2.
[11] Official Journal of the European Union (2009). Commission Decision 2009/79/EC, Article 2.
[12] Official Journal of the European Union (2009). Commission Decision 2009/77/EC, Article 3.
[13] Official Journal of the European Union (2009). Commission Decision 2009/78/EC, Article 3.
[14] Official Journal of the European Union (2009). Commission Decision 2009/79/EC, Article 3.
[15] Official Journal of the European Union (2009). Commission Decision 2009/77/EC, Article 4.
[16] Official Journal of the European Union (2009). Commission Decision 2009/78/EC, Article 4.
[17] Official Journal of the European Union (2009). Commission Decision 2009/79/EC, Article 4.
[18] Official Journal of the European Union (2009). Commission Decision 2009/77/EC, Article 6(1).
[19] Official Journal of the European Union (2009). Commission Decision 2009/78/EC, Article 6(1).
[20] Official Journal of the European Union (2009). Commission Decision 2009/79/EC, Article 6(1).
[21] Official Journal of the European Union (2009). Commission Decision 2009/77/EC, Recital 3.
[22] Official Journal of the European Union (2009). Commission Decision 2009/78/EC, Recital 3.
[23] Official Journal of the European Union (2009). Commission Decision 2009/79/EC, Recital 3.
[24] European Commission (2009). The High-Level Group on Financial Supervision in the EU, Chaired by Jacques de Larosière: Report, 25/02/09, p.3.
[25] European Commission (2009). The High-Level Group on Financial Supervision in the EU, Chaired by Jacques de Larosière: Report, Recommendation 16, p.46.
[26] European Commission (2009). The High-Level Group on Financial Supervision in the EU, Chaired by Jacques de Larosière: Report, Recommendation 17, p.47.
[27] Official Journal of the European Union (2010). Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board, L331/1-L331/11, Article 1(1).
[28] Official Journal of the European Union (2010). Regulation (EU) No 1092/2010, Article 5(1).
[29] Official Journal of the European Union (2010). Regulation (EU) No 1092/2010, Article 6(1).
[30] Official Journal of the European Union (2010). Regulation (EU) No 1092/2010, Article 6(2)-(3).
[31] Official Journal of the European Union (2010). Regulation (EU) No 1092/2010, Article 3(1).
[32] Official Journal of the European Union (2010). Regulation (EU) No 1092/2010, Article 3(2).
[33] Official Journal of the European Union (2010). Regulation (EU) No 1092/2010, Article 6(2)(b).
[34] Official Journal of the European Union (2010). Regulation (EU) No 1092/2010, Article 11(1)(h).
[35] Official Journal of the European Union (2010). Regulation (EU) No 1092/2010, Article 13(1)(g).
[36] Official Journal of the European Union (2010). Regulation (EU) No 1092/2010, Recital 19.
[37] European Commission (2009). The High-Level Group on Financial Supervision in the EU, Chaired by Jacques de Larosière: Report, Recommendation 18, p.48.
[38] European Commission (2009). The High-Level Group on Financial Supervision in the EU, Chaired by Jacques de Larosière: Report, Recommendation 19, p.50.
[39] European Commission (2009). The High-Level Group on Financial Supervision in the EU, Chaired by Jacques de Larosière: Report, Recommendation 20, p.51.
[40] European Commission (2009). The High-Level Group on Financial Supervision in the EU, Chaired by Jacques de Larosière: Report, Paragraph 198, p.50.
[41] European Commission (2009). The High-Level Group on Financial Supervision in the EU, Chaired by Jacques de Larosière: Report, Paragraph 199, p.51.
[42] European Commission (2009). The High-Level Group on Financial Supervision in the EU, Chaired by Jacques de Larosière: Report, Paragraph 200, p.53.
[43] European Commission (2009). The High-Level Group on Financial Supervision in the EU, Chaired by Jacques de Larosière: Report, Recommendation 22, pp.55-56.
[44] Official Journal of the European Union (2010). Regulation (EU) No 1092/2010, Article 1(2).
[45] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC, L331/12-L331/47, original version, Article 2(1).
[46] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC, L331/48-L331/83, original version, Article 2(1).
[47] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority) amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC, L331/84-L331/119, original version, Article 2(1).
[48] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (original version), Article 1(1).
[49] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (original version), Article 1(1).
[50] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (original version), Article 1(1).
[51] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (original version), Article 40(1)(b).
[52] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (original version), Article 40(1)(b).
[53] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (original version), Article 40(1)(b).
[54] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (original version), Articles 48(1) and 51(1).
[55] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (original version), Articles 48(1) and 51(1).
[56] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (original version), Articles 48(1) and 51(1).
[57] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (original version), Article 48(2).
[58] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (original version), Article 48(2).
[59] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (original version), Article 48(2).
[60] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (original version), Article 48(3).
[61] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (original version), Article 48(3).
[62] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (original version), Article 48(3).
[63] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (original version), Article 48(3)-(4).
[64] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (original version), Article 48(3)-(4).
[65] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (original version), Article 48(3)-(4).
[66] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (original version), Article 62(1).
[67] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (original version), Article 62(1).
[68] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (original version), Article 62(1).
[69] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (original version), Article 62(2).
[70] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (original version), Article 62(2).
[71] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (original version), Article 62(2).
[72] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (original version), Article 62(3).
[73] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (original version), Article 62(3).
[74] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (original version), Article 62(3).
[75] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (original version), Article 8(1).
[76] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (original version), Article 8(1).
[77] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (original version), Article 8(1).
[78] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (original version), Article 8(2).
[79] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (original version), Article 8(2).
[80] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (original version), Article 8(2).
[81] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC, L331/12-L331/47, as amended to 30/07/14, Article 1(2).
[82] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 1(3).
[83] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 1(5).
[84] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 1(5).
[85] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 1(5).
[86] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 1(5).
[87] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC, L331/48-L331/83, as amended to 22/05/14, Article 1(2).
[88] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 1(3).
[89] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 1(6).
[90] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 1(6).
[91] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 1(6).
[92] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority) amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC, L331/84-L331/119, as amended to 22/05/14, Article 1(2).
[93] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 1(3).
[94] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 1(5).
[95] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 1(5).
[96] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 1(5).
[97] Official Journal of the European Union (2012). Consolidated version of the Treaty on the Functioning of the European Union, C326/47-C326/199, Article 4(2)(a).
[98] Official Journal of the European Union (2012). Consolidated version of the Treaty on the Functioning of the European Union, Article 2(2).
[99] Official Journal of the European Union (2012). Consolidated version of the Treaty on the Functioning of the European Union, Article 2(1).
[100] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 10(1).
[101] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 10(1).
[102] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 10(1).
[103] Official Journal of the European Union (2012). Consolidated version of the Treaty on the Functioning of the European Union, Article 290(1).
[104] Official Journal of the European Union (2013). Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC, L176/338-L176/436, as amended to 12/06/14, Article 77(3).
[105] Official Journal of the European Union (2013). Directive 2013/36/EU (as amended to 12/06/14), Article 77(1).
[106] Official Journal of the European Union (2013). Directive 2013/36/EU (as amended to 12/06/14), Article 77(4).
[107] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 10(1).
[108] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 10(1).
[109] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 10(1).
[110] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 10(1).
[111] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 10(1).
[112] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 10(1).
[113] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 10(1).
[114] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 10(1).
[115] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 10(1).
[116] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 10(1).
[117] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 10(1).
[118] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 10(1).
[119] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 10(1).
[120] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 10(1).
[121] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 10(1).
[122] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 10(2).
[123] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 10(2).
[124] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 10(2).
[125] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 10(3).
[126] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 10(3).
[127] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 10(3).
[128] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 10(4).
[129] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 10(4).
[130] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 10(4).
[131] Official Journal of the European Union (2014). Commission Delegated Regulation (EU) No 530/2014 of 12 March 2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards further defining material exposures and thresholds for internal approaches to specific risk in the trading book, L148/50-L148/51, Preamble.
[132] Official Journal of the European Union (2014). Commission Delegated Regulation (EU) No 530/2014, Recital 4.
[133] Official Journal of the European Union (2014). Commission Delegated Regulation (EU) No 530/2014, Recital 5.
[134] European Commission (2015). Regulatory Technical Standards supplementing Regulation (EU) 575/2013 (CRR) and Directive 2013/36/EU (CRD): State of play, Brussels, 19/11/15, p.2.
[135] Official Journal of the European Union (2014). Commission Delegated Regulation (EU) No 530/2014, Recital 1.
[136] Official Journal of the European Union (2014). Commission Delegated Regulation (EU) No 530/2014, Recital 2.
[137] Official Journal of the European Union (2013). Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, Article 327(1).
[138] Official Journal of the European Union (2014). Commission Delegated Regulation (EU) No 530/2014, Article 1.
[139] Official Journal of the European Union (2014). Commission Delegated Regulation (EU) No 530/2014, Recital 3.
[140] Official Journal of the European Union (2014). Commission Delegated Regulation (EU) No 530/2014, Article 2.
[141] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 11(2).
[142] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 11(2).
[143] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 11(2).
[144] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 13(1).
[145] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 13(1).
[146] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 13(1).
[147] European Commission (2015). Regulatory Technical Standards supplementing Regulation (EU) 575/2013 (CRR) and Directive 2013/36/EU (CRD): State of play, p.2.
[148] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 13(2).
[149] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 13(2).
[150] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 13(2).
[151] Official Journal of the European Union (2014). Commission Delegated Regulation (EU) No 530/2014, Article 3.
[152] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 13(3).
[153] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 13(3).
[154] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 13(3).
[155] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 14(1).
[156] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 14(1).
[157] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 14(1).
[158] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 14(2).
[159] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 14(2).
[160] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 14(2).
[161] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 11(1).
[162] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 11(1).
[163] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 11(1).
[164] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 12(1).
[165] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 12(1).
[166] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 12(1).
[167] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 12(1).
[168] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 12(1).
[169] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 12(1).
[170] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 12(2).
[171] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 12(2).
[172] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 12(2).
[173] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 12(3).
[174] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 12(3).
[175] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 12(3).
[176] Official Journal of the European Union (2012). Consolidated version of the Treaty on the Functioning of the European Union, Article 291(2).
[177] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 15(1).
[178] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 15(1).
[179] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 15(1).
[180] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014 of 4 June 2014 laying down implementing technical standards with regard to information exchange between competent authorities of home and host Member States, according to Directive 2013/36/EU of the European Parliament and of the Council, L172/1-L172/25, Preamble.
[181] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014, Recital 9.
[182] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014, Recital 10.
[183] Official Journal of the European Union (2013). Directive 2013/36/EU (as amended to 12/06/14), Article 50(7).
[184] Official Journal of the European Union (2013). Directive 2013/36/EU (as amended to 12/06/14), Article 50(8).
[185] European Commission (2015). Implementing Technical Standards supplementing Regulation (EU) 575/2013 (CRR) and Directive 2013/36/EU (CRD): State of play, Brussels, 18/12/15, p.1. < http://ec.europa.eu/finance/bank/docs/regcapital/acts/overview-crr-crdiv-its_en.pdf>.
[186] Official Journal of the European Union (2013). Directive 2013/36/EU (as amended to 12/06/14), Article 50(1).
[187] Official Journal of the European Union (2013). Directive 2013/36/EU (as amended to 12/06/14), Article 50(3).
[188] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014, Recital 1.
[189] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014, Article 1.
[190] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014, Annex I.
[191] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014, Annex II.
[192] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014, Article 1.
[193] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014, Article 5(1).
[194] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014, Article 5(3)-(4).
[195] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014, Article 5(2).
[196] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014, Article 5(2).
[197] Official Journal of the European Union (2014). Commission Implementing Regulation (EU) No 620/2014, Article 5(3).
[198] Official Journal of the European Union (2013). Directive 2013/36/EU (as amended to 12/06/14), Articles 50(8) and 77(4).
[199] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Articles 10(1), 10(3), 15(1) and 15(3).
[200] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Articles 10(1), 10(3), 15(1) and 15(3).
[201] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Articles 10(1), 10(3), 15(1) and 15(3).
[202] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 1(2).
[203] Official Journal of the European Union (2013). Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions, L287/63-L287/69, Article 1.
[204] Official Journal of the European Union (2013). Council Regulation (EU) No 1024/2013, Article 4(1).
[205] Official Journal of the European Union (2013). Council Regulation (EU) No 1024/2013, Article 4(2).
[206] Official Journal of the European Union (2013). Council Regulation (EU) No 1024/2013, Article 4(3).
[207] Official Journal of the European Union (2013). Council Regulation (EU) No 1024/2013, Article 4(3).
[208] Official Journal of the European Union (2013). Council Regulation (EU) No 1024/2013, Article 4(3).
[209] Official Journal of the European Union (2013). Council Regulation (EU) No 1024/2013, Article 4(3).
[210] Official Journal of the European Union (2013). Council Regulation (EU) No 1024/2013, Recital 32.
[211] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 (as amended to 30/07/14), Article 1(5).
[212] Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 (as amended to 22/05/14), Article 1(6).
[213] Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 (as amended to 22/05/14), Article 1(5).

Chapter Four

[1] Morland, M. (2015). Times cartoons: Dave and the Beanstalk, The Times, 29/12/15, 71792, 27.
[2] Juncker, J.-C. (2014). A New Start for Europe: My Agenda for Jobs, Growth, Fairness and Democratic Change – Political Guidelines for the next European Commission, Strasbourg, 15/07/14, pp.4-5. http://ec.europa.eu/priorities/docs/pg_en.pdf.
[3] Juncker, J.-C. (2014). A New Start for Europe: My Agenda for Jobs, Growth, Fairness and Democratic Change – Political Guidelines for the next European Commission, p.7.
[4] Juncker, J.-C. (2014). A New Start for Europe: My Agenda for Jobs, Growth, Fairness and Democratic Change – Political Guidelines for the next European Commission, p.8.
[5] European Commission (2015). Green Paper: Building a Capital Markets Union, COM(2015) 63 final, Brussels, 18/02/15, pp.26-27. /.
[6] European Commission (2015). Commission Staff Working Document: Feedback Statement on the Green Paper “Building a Capital Markets Union,” Accompanying the document ‘Communication for the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union’, SWD(2015) 184 final, Brussels, 30/09/15, p.2. http://ec.europa.eu/finance/consultations/2015/capital-marketsunion/docs/summary-of-responses_en.pdf.
[7] European Commission (2015). Green Paper: Building a Capital Markets Union, p.13.
[8] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, Accompanying the document ‘Green Paper: Building a Capital Markets Union,’ SWD(2015) 13, Brussels, 18/02/15, pp.4-5. http://ec.europa.eu/finance/consultations/2015/capital-markets-union/docs/staff-working-document_en.pdf.
[9] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.10.
[10] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.11.
[11] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.11.
[12] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.14.
[13] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.14.
[14] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.15.
[15] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, pp.15-17.
[16] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, pp.17-18.
[17] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.19.
[18] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.19.
[19] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.21.
[20] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.24.
[21] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.25.
[22] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, pp.26-27.
[23] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.28.
[24] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.28.
[25] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.29.
[26] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.30.
[27] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.30.
[28] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.31.
[29] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.32.
[30] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.33.
[31] European Commission (2015). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, p.35.
[32] European Central Bank (2016). ECB Banking Supervision: SSM priorities 2016, Frankfurt am Main, 06/01/16, p.3. https://www.bankingsupervision.europa.eu/ecb/pub/pdf/publication_supervisory_priorities_2016.en.pdf.
[33] Juncker, J.-C. (2014). A New Start for Europe: My Agenda for Jobs, Growth, Fairness and Democratic Change – Political Guidelines for the next European Commission, p.8.
[34] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, COM(2015) 468 final, Brussels, 30/09/15, p.7. http://ec.europa.eu/finance/capitalmarkets-union/docs/building-cmu-action-plan_en.pdf.
[35] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, pp.8-9.
[36] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.9-10.
[37] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.10.
[38] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, pp. 10-11.
[39] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.12.
[40] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.13.
[41] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.13.
[42] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.14.
[43] European Commission (2015). Proposal for a Regulation of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading, COM(2015) 583 final, Brussels, 30/11/15, Articles 15(1) and 15(3), p.53.
[44] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, pp. 15-16.
[45] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.15.
[46] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.17.
[47] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.18.
[48] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.19.
[49] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.19.
[50] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.20.
[51] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.21.
[52] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.22.
[53] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.22.
[54] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.23.
[55] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.24.
[56] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.24.
[57] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.25.
[58] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.25.
[59] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.26.
[60] European Commission (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, p.27.
[61] European Commission (2015). Commission Staff Working Document: Economic Analysis, Accompanying the document ‘Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union,’ SWD(2015) 183 final, Brussels, 30/09/15, p.14. http://ec.europa.eu/finance/capitalmarkets-union/docs/building-cmu-economic-analysis_en.pdf.
[62] European Commission (2015). Commission Staff Working Document: Economic Analysis, pp.18 and 111.
[63] Dixon, H. (2014). Unlocking Europe’s capital markets union, Centre for European Reform, October 2014, p.8.
[64] Lannoo, K. (2015). Which Union for Europe’s Capital Markets?, ECMI Policy Brief, No.22/February 2015, p.1.
[65] Lannoo, K. (2015). Which Union for Europe’s Capital Markets?, ECMI Policy Brief, No.22/February 2015, p.4.
[66] Lannoo, K. (2015). Which Union for Europe’s Capital Markets?, ECMI Policy Brief, No.22/February 2015, p.5.
[67] Lannoo, K., Pollack, A., & Staehr, O. (2015). Keep capital markets union simple, ECMI Commentary, No.38/July 2015, pp.1-2.
[68] Lannoo, K. (2015). Detailed CMU Action Plan, but more (ambition) is required, ECMI Commentary, No.39/2 October 2015, p.2.
[69] Lannoo, K. (2015). Detailed CMU Action Plan, but more (ambition) is required, ECMI Commentary, No.39/2 October 2015, p.2.
[70] Lannoo, K. (2015). Detailed CMU Action Plan, but more (ambition) is required, ECMI Commentary, No.39/2 October 2015, p.1.
[71] Lannoo, K. (2015). Detailed CMU Action Plan, but more (ambition) is required, ECMI Commentary, No.39/2 October 2015, p.3.
[72] Lannoo, K. (2015). Detailed CMU Action Plan, but more (ambition) is required, ECMI Commentary, No.39/2 October 2015, p.1.
[73] Valiante, D. (2015). Light and shadows in Europe’s new Action Plan for Capital Markets Union, ECMI Commentary, No.40/5 October 2015, p.1.
[74] Valiante, D. (2015). Light and shadows in Europe’s new Action Plan for Capital Markets Union, ECMI Commentary, No.40/5 October 2015, p.4.
[75] Kaya, O. (2015). Capital Markets Union: An ambitious goal, but few quick wins, Deutsche Bank Research: EU Monitor Global financial markets, 02/11/15, pp.1-2 and 10.
[76] Kaya, O. (2015). Capital Markets Union: An ambitious goal, but few quick wins,Deutsche Bank Research: EU Monitor Global financial markets, 02/11/15, p.9.
[77] Kaya, O. (2015). Capital Markets Union: An ambitious goal, but few quick wins, Deutsche Bank Research: EU Monitor Global financial markets, 02/11/15, pp.10-13.
[78] Kaya, O. (2015). Capital Markets Union: An ambitious goal, but few quick wins, Deutsche Bank Research: EU Monitor Global financial markets, 02/11/15, pp.17-18.
[79] Kaya, O. (2015). Capital Markets Union: An ambitious goal, but few quick wins, Deutsche Bank Research: EU Monitor Global financial markets, 02/11/15, p.19.
[80] Kaya, O. (2015). Capital Markets Union: An ambitious goal, but few quick wins, Deutsche Bank Research: EU Monitor Global financial markets, 02/11/15, Table 10, p.6.
[81] Kaya, O. (2015). Capital Markets Union: An ambitious goal, but few quick wins, Deutsche Bank Research: EU Monitor Global financial markets, 02/11/15, Table 11, p.7.
[82] Kaya, O. (2015). Capital Markets Union: An ambitious goal, but few quick wins, Deutsche Bank Research: EU Monitor Global financial markets, 02/11/15, Table 16, p.10.
[83] Official Journal of the European Union (2014). Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC, L173/1-L173/61, Article 37.
[84] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Article 29(4).
[85] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Article 13(1).
[86] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Recital 3.
[87] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Recital 4.
[88] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Article 14.
[89] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Article 8(1).
[90] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Article 8(2).
[91] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Article 8(3).
[92] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Article 7(1).
[93] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Article 7(2).
[94] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Article 15.
[95] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Article 12(1).
[96] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Article 30(1)(a).
[97] Official Journal of the European Union (2014). Directive 2014/57/EU of the European Parliament and of the Council of 16 April 2014 on criminal sanctions for market abuse (market abuse directive), L173/179-L173/189, Preamble.
[98] Official Journal of the European Union (2012). Consolidated version of the Treaty on the Functioning of the European Union, C326/47-C326/199, Article 83(2).
[99] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 3(1).
[100] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 3(3).
[101] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 4(1).
[102] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 4(2).
[103] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 5(1).
[104] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 5(2).
[105] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 6(1).
[106] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 6(2).
[107] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 6(1).
[108] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 7(1).
[109] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 8(1).
[110] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 8(2).
[111] Official Journal of the European Union (2014). Directive 2014/57/EU, Article 9.
[112] Official Journal of the European Union (2014). Regulation (EU) No 596/2014, Recital 5.
[113] Official Journal of the European Union (2012). Consolidated version of the Treaty on the Functioning of the European Union, Article 4(2)(a).
[114] European Commission (2015). Proposal for a Regulation of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading, p.2.
[115] European Commission (2015). Consultation Document: Review of the Prospectus Directive, Brussels, 18/02/15, p.1.
[116] Official Journal of the European Union (2003). Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC, L345/64-L345/89, as amended to 22/05/14, Article 3(1).
[117] Official Journal of the European Union (2003). Directive 2003/71/EC (as amended to 22/05/14), Article 3(2)(a).
[118] Official Journal of the European Union (2003). Directive 2003/71/EC (as amended to 22/05/14), Article 3(2)(b)-(e).
[119] Official Journal of the European Union (2003). Directive 2003/71/EC (as amended to 22/05/14), Article 3(3).
[120] Official Journal of the European Union (2003). Directive 2003/71/EC (as amended to 22/05/14), Article 3(4).
[121] Official Journal of the European Union (2004). Commission Regulation (EC) No 809/2004 of 29 April 2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards information contained in prospectuses as well as the format, incorporation by reference and publication of such prospectuses and dissemination of advertisements, L149/1-L149/126, as amended to 25/09/15, Annexes I-XXX.
[122] Official Journal of the European Union (2003). Directive 2003/71/EC (as amended to 22/05/14), Article 5(2).
[123] Official Journal of the European Union (2003). Directive 2003/71/EC (as amended to 22/05/14), Article 5(2).
[124] Official Journal of the European Union (2003). Directive 2003/71/EC (as amended to 22/05/14), Articles 5(2) and 5(5).
[125] Official Journal of the European Union (2012). Commission Delegated Regulation (EU) No 486/2012 of 20 March 2012 amending Regulation (EC) No 809/2004 as regards the format and the content of the prospectus, the base prospectus, the summary and the final terms and as regards the disclosure requirements, L150/1-L150/65, Articles 1(10) and 1(12).
[126] Official Journal of the European Union (2003). Directive 2003/71/EC (as amended to 22/05/14), Article 6(2).
[127] Official Journal of the European Union (2003). Directive 2003/71/EC (as amended to 22/05/14), Article 6(2).
[128] Official Journal of the European Union (2003). Directive 2003/71/EC (as amended to 22/05/14), Article 16(3).
[129] Official Journal of the European Union (2014). Commission Delegated Regulation (EU) No 382/2014 of 7 March 2014 supplementing Directive 2003/71/EC of the European Parliament and of the Council with regard to regulatory technical standards for publication of supplements to the prospectus, L111/36-L111/39, Article 1.
[130] Official Journal of the European Union (2014). Commission Delegated Regulation (EU) No 382/2014, Article 2(f).
[131] Official Journal of the European Union (2014). Commission Delegated Regulation (EU) No 382/2014, Article 2(h).
[132] Official Journal of the European Union (2004). Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC, L390/38-L390/57, as amended to 06/11/13, Article 3.
[133] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 4(1).
[134] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 4(7).
[135] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 4(7).
[136] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 4(7).
[137] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 5(1).
[138] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 5(6).
[139] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 6.
[140] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 8(1).
[141] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 9(1).
[142] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 9(6).
[143] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 9(6a).
[144] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 13(1).
[145] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 16(1)-(2).
[146] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 23(1).
[147] Official Journal of the European Union (2007). Commission Directive 2007/14/EC of 8 March 2007 laying down detailed rules for the implementation of certain provisions of Directive 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, L69/27-L69/36, as amended to 06/11/13, Articles 13-22.
[148] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 24(4).
[149] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 24(4a).
[150] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 24(4b).
[151] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 25(2).
[152] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 25(2a).
[153] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 25(2b).
[154] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 25(2c).
[155] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 25(3).
[156] Official Journal of the European Union (2004). Directive 2004/109/EC (as amended to 06/11/13), Article 25(4).
[157] Official Journal of the European Union (2007). Directive 2007/36/EC of the European Parliament and of the Council of 11 July 2007 on the exercise of certain rights of shareholders in listed companies, L184/17-L184/24, as amended to 12/06/14, Article 16.
[158] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 1(4).
[159] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 1(1).
[160] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Recital 4.
[161] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 1(2).
[162] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 4.
[163] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 5(1).
[164] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 5(2).
[165] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 5(2).
[166] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 5(3).
[167] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 5(4).
[168] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 6(1).
[169] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 6(2).
[170] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 8(1).
[171] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 8(2).
[172] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 9(1).
[173] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 9(2).
[174] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 10(1).
[175] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 10(4).
[176] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 10(5).
[177] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 11(1).
[178] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 11(2).
[179] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 12.
[180] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 14(1).
[181] Official Journal of the European Union (2007). Directive 2007/36/EC (as amended to 12/06/14), Article 14(2).
[182] European Commission (2014). Regulation on securities settlement and on Central Securities Depositories in the EU (‘CSD Regulation’) – Frequently Asked Questions, MEMO/14/312, Brussels, 16/04/14, Point 2, p.1. http://europa.eu/rapid/pressrelease_MEMO-14-312_en.htm?locale=en.
[183] European Commission (2014). Regulation on securities settlement and on Central Securities Depositories in the EU (‘CSD Regulation’) – Frequently Asked Questions, Point 3, p.1.
[184] European Commission (2014). Regulation on securities settlement and on Central Securities Depositories in the EU (‘CSD Regulation’) – Frequently Asked Questions, Point 5, p.2.
[185] Official Journal of the European Union (2014). Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012, L257/1-L257/72, Article 1(1).
[186] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 3(2).
[187] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 3(1).
[188] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 5(1).
[189] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 5(2).
[190] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 9(1).
[191] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 9(1).
[192] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 10.
[193] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 11(1).
[194] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 11(2).
[195] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 11(3).
[196] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 13(1).
[197] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 13(2).
[198] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 14(1).
[199] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 14(2).
[200] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 15.
[201] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 16(1).
[202] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 16(2).
[203] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 16(3).
[204] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 16(4).
[205] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 17(1).
[206] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 17(2).
[207] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 17(3).
[208] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 17(4).
[209] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 17(6).
[210] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 17(8).
[211] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 23(1).
[212] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 23(2).
[213] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 23(3).
[214] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 23(4).
[215] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 23(5).
[216] Official Journal of the European Union (2014). Regulation (EU) No 909/2014, Article 23(6).
[217] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories, L201/1-L201/59, as amended to 23/12/15, Recital 5.
[218] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Recital 99.
[219] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Preamble.
[220] Official Journal of the European Union (2012). Consolidated version of the Treaty on the Functioning of the European Union, Article 4(2)(a).
[221] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 1(1).
[222] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 1(2).
[223] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 4(1).
[224] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 4(2).
[225] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 9(1).
[226] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 9(3).
[227] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 12(1).
[228] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 12(2).
[229] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 26(1).
[230] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 36(1).
[231] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 36(2).
[232] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 40.
[233] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 41(1).
[234] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 42(1).
[235] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 42(2).
[236] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 43(1).
[237] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 43(3).
[238] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 44(1).
[239] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 46(1).
[240] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 46(2).
[241] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 47(1).
[242] Official Journal of the European Union (2012). Regulation (EU) No 648/2012 (as amended to 23/12/15), Article 50(1).
[243] European Commission (2011). Regulation on Short Selling and Credit Default Swaps – Frequently Asked Questions, MEMO/11/713, Brussels, 19/10/11, pp.2-3. http://europa.eu/rapid/press-release_MEMO-11-713_en.htm?locale=en.
[244] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps, L86/1-L86/24, as amended to 28/08/14, Recital 14.
[245] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 2(1)(b).
[246] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 2(1)(c).
[247] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 3(1).
[248] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 3(2).
[249] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 4(1).
[250] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 14(1).
[251] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 14(2).
[252] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 8.
[253] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 13(1).
[254] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 7(1).
[255] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 12(1).
[256] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 5(1)-(2).
[257] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 6(1)-(2).
[258] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 16(1).
[259] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 17(1).
[260] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 17(5).
[261] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 23(1).
[262] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 23(5).
[263] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 20(1)-(2).
[264] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 21(1)-(2).
[265] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 25(1)-(2).
[266] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 25(3).
[267] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 24.
[268] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 41.
[269] Official Journal of the European Union (2012). Regulation (EU) No 236/2012 (as amended to 28/08/14), Article 41.
[270] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies, L302/1-L302/31, as amended to 22/05/14, Article 1.
[271] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 2(1).
[272] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 3(1)(a).
[273] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 3(1)(b).
[274] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 4(1).
[275] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 5a(1).
[276] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 14(1).
[277] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 14(2).
[278] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 14(3).
[279] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 15(1).
[280] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 14(5).
[281] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 5(1).
[282] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 6(1).
[283] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 6a(1).
[284] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 7(1).
[285] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 7(4).
[286] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 7(5).
[287] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 8(1), and Annex I Section E, Part I, Point 5.
[288] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 8(3).
[289] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 8(5).
[290] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 8(5).
[291] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 8c(1).
[292] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 8c(2).
[293] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 10(1).
[294] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 11(1).
[295] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Annex I Section E, Part I.
[296] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 11(3), and Annex I Section E, Part 2, Point 2.
[297] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 11(2).
[298] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 23e(1).
[299] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 23e(2).
[300] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 23e(3).
[301] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 23e(4).
[302] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 23e(5).
[303] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 23e(6).
[304] Official Journal of the European Union (2009). Regulation (EC) No 1060/2009 (as amended to 22/05/14), Article 23e(8).
[305] European Securities and Markets Authority (2015). CRA Authorisation, Paris, 01/12/15. https://www.esma.europa.eu/supervision/credit-rating-agencies/risk
[306] European Commission (2008). Improved EU framework for investment funds – Frequently Asked Questions, MEMO/08/510, Brussels, 16/07/08, pp.1-2 and 4. http://europa.eu/rapid/press-release_MEMO-08-510_en.htm?locale=fr.
[307] European Commission (2014). Undertakings for collective investment in transferable securities – amended Directive (UCITS V): Frequently asked questions, MEMO/14/298, Brussels, 15/04/14, p.2. http://europa.eu/rapid/press-release_MEMO-14-298_en.htm?locale=en.
[308] Official Journal of the European Union (2009). Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (recast), L302/32-L302/96, as amended to 28/08/14, Article 5(4).
[309] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 5(4).
[310] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 14a(1).
[311] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 14a(3).
[312] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 14b(1).
[313] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 14b(1)(b).
[314] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 14b(4).
[315] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 16(1).
[316] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Articles 17(2)(b) and 15.
[317] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Articles 18(1)(b) and 15.
[318] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Annex II.
[319] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 21(2).
[320] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Articles 21(5) and 21(2).
[321] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 27.
[322] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 22(1).
[323] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 22(2).
[324] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 22(3).
[325] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 22(4).
[326] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 22(5)(a).
[327] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 22(5)(b).
[328] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 22(6).
[329] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 23(1).
[330] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 23(2).
[331] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 25(1).
[332] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 25(2).
[333] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Recital 27, and Articles 37 and 38(1).
[334] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 51(1).
[335] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 88(1).
[336] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 56(2).
[337] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 68(1).
[338] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 69(1).
[339] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 72.
[340] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 74.
[341] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Articles 83(1), 83(2)(a) and 90.
[342] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 86.
[343] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Articles 84(2)(a), 85 and 90.
[344] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 98(1).
[345] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 98(2).
[346] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 99(1).
[347] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 99(6).
[348] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 99(7).
[349] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 99c(1).
[350] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 99e(1).
[351] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 102(1).
[352] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 102(2).
[353] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 102(5).
[354] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 107(2).
[355] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 107(3).
[356] Official Journal of the European Communities (1985). Council Directive 85/611/EEC of 20 December 1985 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), L375/3-L375/17, as amended to 19/03/08, Article 57(1).
[357] Official Journal of the European Union (2011). Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010, L174/1-L174/73, as amended to 12/06/14, Article 70.
[358] Official Journal of the European Union (2011). Directive 2011/61/EU (as amended to 12/06/14), Article 66(1)-(3).
[359] Official Journal of the European Union (2011). Directive 2011/61/EU (as amended to 12/06/14), Recital 4.
[360] Official Journal of the European Union (2011). Directive 2011/61/EU (as amended to 12/06/14), Recital 3.
[361] Official Journal of the European Union (2013). Regulation (EU) No 345/2013 of the European Parliament and of the Council of 17 April 2013 on European venture capital funds, L115/1-L115/17, Article 28.
[362] Official Journal of the European Union (2013). Regulation (EU) No 345/2013, Article 2(1)(a); Official Journal of the European Union (2011). Directive 2011/61/EU (as amended to 12/06/14), Article 3(2)(b).
[363] Official Journal of the European Union (2013). Regulation (EU) No 345/2013, Article 4.
[364] Baber, G. (2015). Venture capital in Europe: something ventured, something gained? Company Lawyer, 36(10), 310-313, at 313.
[365] Official Journal of the European Union (2013). Regulation (EU) No 346/2013 of the European Parliament and of the Council of 17 April 2013 on European social entrepreneurship funds, L115/18-L115/38, Article 29.
[366] Official Journal of the European Union (2013). Regulation (EU) No 346/2013, Article 4.
[367] Official Journal of the European Union (2013). Regulation (EU) No 346/2013, Article 2(1)(a); Official Journal of the European Union (2011). Directive 2011/61/EU (as amended to 12/06/14), Article 3(2)(b).
[368] Official Journal of the European Union (2013). Regulation (EU) No 346/2013, Article 3(1)(a)-(b).
[369] European Commission (2011). European Social Entrepreneurship Funds – Frequently Asked Questions, MEMO/11/881, Brussels, 07/12/11, p.3.
[370] Official Journal of the European Union (2015). Regulation (EU) 2015/760 of the European Parliament and of the Council of 29 April 2015 on European long-term investment funds, L123/98-L123/121, Article 38.
[371] Official Journal of the European Union (2015). Regulation (EU) 2015/760, Article 6(1).
[372] Official Journal of the European Union (2015). Regulation (EU) 2015/760, Article 13(1).
[373] Official Journal of the European Union (2015). Regulation (EU) 2015/760, Article 10.
[374] Official Journal of the European Union (2015). Regulation (EU) 2015/760, Article 9(1).
[375] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 50(1).
[376] European Commission (2013). European Long-term Investment Funds – frequently asked questions, MEMO/13/611, Brussels, 26/06/13, p.2.
[377] Official Journal of the European Union (2015). Regulation (EU) 2015/760, Article 13(1).
[378] Official Journal of the European Union (2014). Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs), L352/1-L352/23, Article 5(1).
[379] Official Journal of the European Union (2014). Regulation (EU) No 1286/2014, Article 8(3).
[380] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 78(2).
[381] Official Journal of the European Union (2009). Directive 2009/65/EC (as amended to 28/08/14), Article 78(3).
[382] Official Journal of the European Union (2014). Regulation (EU) No 1286/2014, Article 32(1).
[383] Official Journal of the European Union (2014). Regulation (EU) No 1286/2014, Article 34.
[384] European Commission (2016). Proposal for a Directive of the European Parliament and of the Council amending Directive 2014/65/EU on markets in financial instruments as regards certain dates, COM(2016) final, Brussels, 10/02/16, Article 1(2)-(3). http://ec.europa.eu/finance/securities/docs/isd/mifid/160210-directive-amendingmifid_en.pdf.
[385] European Commission (2016). Proposal for a Regulation of the European Parliament and of the Council amending Regulation (EU) No 600/2014 on markets in financial instruments, Regulation (EU) No 596/2014 on market abuse and Regulation (EU) No 909/2014 on improving securities settlement in the European Union and on central securities depositories as regards certain dates, COM(2016) final, Brussels, 10/02/16, Article 1(9)(a). http://ec.europa.eu/finance/securities/docs/isd/mifid/160210-regulationamending-mifir_en.pdf.
[386] European Commission (2016). Press release: Commission extends by one year the application date for the MiFID II package, IP/16/265, Brussels, 10/02/04. http://europa.eu/rapid/press-release_IP-16-265_en.htm?locale=en.
[387] Baber, G. (2016). Banking in the European Union: hard Acts to follow? Company Lawyer, 37(3), 82-84, at 84.
[388] Official Journal of the European Communities (1998). Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems, L166/45-L166/50, as amended to 28/08/14, Articles 1 and 2(a).
[389] Official Journal of the European Communities (1998). Directive 98/26/EC (as amended to 28/08/14), Article 7.
[390] Official Journal of the European Communities (1998). Directive 98/26/EC (as amended to 28/08/14), Article 9(1).
[391] Official Journal of the European Communities (1998). Directive 98/26/EC (as amended to 28/08/14), Article 10a.
[392] European Commission (2010). Proposal for a Directive of the European Parliament and of the Council amending Directive 97/9/EC of the European Parliament and of the Council on investor-compensation schemes, COM(2010) 371 final, Brussels, 12/07/10, Recital 3. http://ec.europa.eu/internal_market/securities/docs/isd/dir-97-9/proposalmodification_en.pdf.
[393] European Commission (2010). Proposal for a Directive of the European Parliament and of the Council amending Directive 97/9/EC of the European Parliament and of the Council on investor-compensation schemes, Recital 4.
[394] European Commission (2010). Proposal for a Directive of the European Parliament and of the Council amending Directive 97/9/EC of the European Parliament and of the Council on investor-compensation schemes, Article 1(4).
[395] European Commission (2010). Proposal for a Directive of the European Parliament and of the Council amending Directive 97/9/EC of the European Parliament and of the Council on investor-compensation schemes, Articles 1(7) and 1(2)(b)-(c).
[396] Official Journal of the European Union (2014). Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (recast), L173/149-L173/178, as corrected to 30/12/14, Article 3(1)-(3).
[397] Official Journal of the European Union (2014). Directive 2014/49/EU (as corrected to 30/12/14), Article 3(4)-(5).
[398] Official Journal of the European Union (2014). Directive 2014/49/EU (as corrected to 30/12/14), Article 14(1).
[399] Official Journal of the European Union (2014). Directive 2014/49/EU (as corrected to 30/12/14), Article 14(2).
[400] Official Journal of the European Union (2014). Directive 2014/49/EU (as corrected to 30/12/14), Article 15(1).
[401] Official Journal of the European Union (2014). Directive 2014/49/EU (as corrected to 30/12/14), Article 15(2).
[402] Official Journal of the European Union (2014). Directive 2014/49/EU (as corrected to 30/12/14), Article 6(1).
[403] Official Journal of the European Union (2014). Directive 2014/49/EU (as corrected to 30/12/14), Article 5(1).
[404] Official Journal of the European Union (2009). Directive 2009/14/EC of the European Parliament and of the Council of 11 March 2009 amending Directive 94/19/EC on deposit-guarantee schemes as regards the coverage level and the payout delay, L68/3-L68/7, Article 1(3)(c).
[405] Official Journal of the European Union (2014). Directive 2014/49/EU (as corrected to 30/12/14), Article 16(1).
[406] Official Journal of the European Union (2014). Directive 2014/49/EU (as corrected to 30/12/14), Article 16(2)-(3).
[407] Official Journal of the European Union (2009). Directive 2009/14/EC, Article 1(6)(a).
[408] Official Journal of the European Union (2014). Directive 2014/49/EU (as corrected to 30/12/14), Article 8(1).
[409] Official Journal of the European Union (2014). Directive 2014/49/EU (as corrected to 30/12/14), Article 8(2).
[410] Official Journal of the European Union (2003). Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council, L35/1-L35/27, as amended to 27/06/13, Article 2(14).
[411] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Articles 5(2)(b) and 5(3).
[412] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 5(2)(c).
[413] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 10(1).
[414] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 11(1).
[415] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 6(2).
[416] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Annex I, Title II.
[417] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Articles 7(5) and 8(5).
[418] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 9(2)(d).
[419] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 9(4).
[420] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 9a.
[421] Official Journal of the European Union (2010). Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC, L331/12-L331/47, as amended to 30/07/14, Article 56; Official Journal of the European Union (2010). Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC, L331/48-L331/83, as amended to 22/05/14, Article 56; Official Journal of the European Union (2010). Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority) amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC, L331/84-L331/119, as amended to 22/05/14, Article 56.
[422] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 9b(1).
[423] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 9b(2).
[424] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 12(1)(a).
[425] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 12(1).
[426] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 12a(1).
[427] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 12b(1).
[428] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 14(1).
[429] Official Journal of the European Union (2003). Directive 2002/87/EC (as amended to 27/06/13), Article 16.
[430] Official Journal of the European Communities (2002). Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements, L168/43-L168/50, as amended to 12/06/14, Article 3(1).
[431] Official Journal of the European Communities (2002). Directive 2002/47/EC (as amended to 12/06/14), Article 3(1).
[432] Official Journal of the European Communities (2002). Directive 2002/47/EC (as amended to 12/06/14), Article 1(4)(a).
[433] Official Journal of the European Communities (2002). Directive 2002/47/EC (as amended to 12/06/14), Article 1(2)(a)-(d).
[434] Official Journal of the European Communities (2002). Directive 2002/47/EC (as amended to 12/06/14), Article 4(1)(c).
[435] Official Journal of the European Communities (2002). Directive 2002/47/EC (as amended to 12/06/14), Article 4(2).
[436] Official Journal of the European Communities (2002). Directive 2002/47/EC (as amended to 12/06/14), Article 5(6).
[437] Official Journal of the European Communities (2002). Directive 2002/47/EC (as amended to 12/06/14), Article 9a.
[438] The Evaluation Partnership Limited (2006). Framework contract No RTD-JRC/00-06: Evaluation of the E-money Directive (2006/46/EC) – Final Report, Twickenham, 17/02/06, pp.2, 4 and 8. http://ec.europa.eu/internal_market/payments/docs/emoney/evaluation_en.pdf.
[439] Official Journal of the European Union (2009). Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC, L267/7-L267/17, Recital 2.
[440] Official Journal of the European Union (2009). Directive 2009/110/EC, Recital 4.
[441] Official Journal of the European Union (2009). Directive 2009/110/EC, Article 2(1).
[442] Official Journal of the European Union (2009). Directive 2009/110/EC, Article 2(2).
[443] Official Journal of the European Union (2009). Directive 2009/110/EC, Article 4.
[444] Official Journal of the European Union (2009). Directive 2009/110/EC, Article 5(1)-(5).
[445] Official Journal of the European Union (2007). Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC, L319/1-L319/36, as amended to 17/11/09, Article 8(3).
[446] Official Journal of the European Union (2009). Directive 2009/110/EC, Article 7(1).
[447] Official Journal of the European Union (2007). Directive 2007/64/EC (as amended to 17/11/09), Article 9(1).
[448] Official Journal of the European Union (2007). Directive 2007/64/EC (as amended to 17/11/09), Article 9(2).
[449] Devnani, S., Godschalk, H., Klinger, H., Korus, K., Mantovani, I., Muller, P., Reifner, U., Riefa, C., Sinn, M. & Tiffe, A. (2013). Study on the impact of Directive 2007/64/EC on payment services in the internal market and on the application of Regulation (EC) No 924/2009 on cross-border payments in the Community, Contract MARKT/2011/120/H3/ST/OP: Final Report – Prepared by London Economics and institut für finanzdienstleistungen e.V. in association with PaySys Consultancy GmbH, February 2013, Paragraphs 5-6, p.ix. http://ec.europa.eu/finance/payments/docs/framework/130724_study-impact-psd-annex_en.pdf.
[450] Official Journal of the European Union (2015). Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC, L337/35-L337/127, Recital 4.
[451] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Recital 6.
[452] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Recital 33.
[453] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Recital 34.
[454] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Recital 2.
[455] Official Journal of the European Union (2015). Regulation (EU) No 2015/751 of the European Parliament and of the Council of 29 April 2015 on interchange fees for cardbased transactions, L123/1-L123/15, Article 2(10).
[456] Official Journal of the European Union (2015). Regulation (EU) No 2015/751, Article 3(1).
[457] Official Journal of the European Union (2015). Regulation (EU) No 2015/751, Article 4.
[458] Official Journal of the European Union (2015). Regulation (EU) No 2015/751, Article 3(2)(a).
[459] Official Journal of the European Union (2015). Regulation (EU) No 2015/751, Article 4.
[460] European Commission (2013). Payment Services Directive and Interchange fees Regulation: frequently asked questions, MEMO/13/71, Brussels, 24/07/13, p.8. http://europa.eu/rapid/press-release_MEMO-13-719_en.pdf.
[461] European Commission (2013). Payment Services Directive and Interchange fees Regulation: frequently asked questions, p.6.
[462] Official Journal of the European Union (2015). Regulation (EU) No 2015/751, Article 7(1).
[463] Official Journal of the European Union (2015). Regulation (EU) No 2015/751, Article 12(1).
[464] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 116.
[465] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 115(1)-(2).
[466] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 114.
[467] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 1(1).
[468] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 1(1)(a)-(b).
[469] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 7.
[470] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Articles 28(1)(e), 5(1)(b) and 5(1)(e).
[471] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 30(2)-(3).
[472] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 30(1).
[473] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 46.
[474] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 4(18).
[475] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Annex I, Point 7.
[476] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Annex II.
[477] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 4(19).
[478] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Annex I, Point 8.
[479] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 33.
[480] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 67.
[481] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 67(2)(a).
[482] Official Journal of the European Union (2015). Directive (EU) 2015/2366, Article 67(2)(e).
[483] Official Journal of the European Union (2014). Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council, L173/190-L173/348, Recital 119.
[484] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 2(1)(23).
[485] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 117(1).
[486] Official Journal of the European Communities (2001). Directive 2001/24/EC of the European Parliament and of the Council of 4 April 2001 on the reorganisation and winding up of credit institutions, L125/15-L125/23, as amended to 12/06/14, Article 1(3).
[487] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 117(1).
[488] Official Journal of the European Communities (2001). Directive 2001/24/EC (as amended to 12/06/14), Article 1(4).
[489] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 117(1).
[490] Official Journal of the European Communities (2001). Directive 2001/24/EC (as amended to 12/06/14), Article 1(5)-(6).
[491] Official Journal of the European Communities (2001). Directive 2001/24/EC (as amended to 12/06/14), Article 33.
[492] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 84.
[493] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 117(2).
[494] Official Journal of the European Communities (2001). Directive 2001/24/EC (as amended to 12/06/14), Article 2.
[495] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 117(3)-(4).
[496] Official Journal of the European Communities (2001). Directive 2001/24/EC (as amended to 12/06/14), Articles 25-26.
[497] Official Journal of the European Union (2014). Directive 2014/59/EU, Articles 68(1) and 68(3).
[498] Official Journal of the European Union (2014). Directive 2014/59/EU, Articles 71(1) and 2(1)(23).
[499] Official Journal of the European Communities (2001). Directive 2001/24/EC of the European Parliament and of the Council of 4 April 2001 on the reorganisation and winding up of credit institutions, L125/15-L125/23, original version, Recital 1.
[500] Official Journal of the European Communities (2001). Directive 2001/24/EC (original version), Recital 2.
[501] Official Journal of the European Union (2014). Directive 2014/59/EU, Recital 1.
[502] Official Journal of the European Union (2014). Directive 2014/59/EU, Recital 2.
[503] Official Journal of the European Union (2014). Directive 2014/59/EU, Articles 1(1) and 2(1)(23).
[504] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 5(1).
[505] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 5(2).
[506] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 5(5), and Annex, Section A, Points 1-3.
[507] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 5(6).
[508] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 7(1).
[509] Official Journal of the European Union (2014). Directive 2014/59/EU, Articles 7(2)-(3), 8(2) and 8(4).
[510] Official Journal of the European Union (2014). Directive 2014/59/EU, Articles 2(1)(1) and 37(9).
[511] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 31(1).
[512] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 31(2).
[513] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 32(1).
[514] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 34(1).
[515] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 37(3).
[516] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 38(1).
[517] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 38(2).
[518] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 40(1).
[519] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 40(2).
[520] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 40(3).
[521] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 42(1).
[522] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 42(2).
[523] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 42(3).
[524] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 43(1).
[525] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 63(1).
[526] Official Journal of the European Union (2014). Directive 2014/59/EU, Article 44(2).
[527] Parris, M. (2016). Brexit would mean we don’t give a damn, The Times, 20/02/16, 71838, 23.

Chapter Five

[1] Thatcher, M. (1988). Speech to the College of Europe (“The Bruges Speech”), Bruges, 20/09/88. http://www.margaretthatcher.org/document/107332.
[2] Thatcher, M. (1988). Speech to the College of Europe (“The Bruges Speech”).
[3] Thatcher, M. (1988). Speech to the College of Europe (“The Bruges Speech”).
[4] Thatcher, M. (1988). Speech to the College of V
[5] European Commission (2015). Completing Europe’s Economic and Monetary Union: Report by Jean-Claude Juncker in close cooperation with Donald Tusk, Jeroen Dijsselbloem, Mario Draghi and Martin Schulz, Brussels, 22/06/15, Annex 1, pp.20-21.
[6] Committee for the Study of Economic and Monetary Union (1989). Report on economic and monetary union in the European Community: Presented April, 17, 1989, p.3.
[7] European Council (2015). Cover Note from the General Secretariat of the Council to Delegations, EUCO 22/15, Brussels, 26/06/15, p.8. www.consilium.europa.eu/en/meetings/european-council/2015/06/EUCO-conclusions-pdf/.
[8] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.2.
[9] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.2.
[10] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.4.
[11] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.4.
[12] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.4.
[13] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.4.
[14] European Commission (2015). Completing Europe’s Economic and Monetary Union, pp.4-5.
[15] Majone, G. (2005). Dilemmas of European Integration: The Ambiguities & Pitfalls of Integration by Stealth. Oxford: Oxford University Press, p.187, and Figure 9.2, p.188.
[16] Majone, G. (2005). Dilemmas of European Integration: The Ambiguities & Pitfalls of Integration by Stealth. Oxford: Oxford University Press, p.187.
[17] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.14.
[18] European Parliament (2015). Evaluating EU Economic Governance: Elements for the debate on the “Six-Pack” and “Two-Pack,” January 2015, p.1. http://www.europarl. europa.eu/RegData/etudes/BRIE/2015/536374/EPRS_BRI%282015%29536374_REV1_EN.pdf.
[19] European Commission (2015), Completing Europe’s Economic and Monetary Union, p.14.
[20] European Commission (2015). Completing Europe’s Economic and Monetary Union, Annex 3, p.23.
[21] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.14.
[22] European Commission (2015). Completing Europe’s Economic and Monetary Union, pp.6 and 15.
[23] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.16.
[24] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.17.
[25] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.17.
[26] Official Journal of the European Union (2012). Consolidated version of the Treaty on the Functioning of the European Union, C326/47-C326/199, Article 2(2).
[27] European Commission (2015). Completing Europe’s Economic and Monetary Union, Annex 2, p.22.
[28] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.4.
[29] European Commission (2015). Completing Europe’s Economic and Monetary Union, p.4.
[30] Thatcher, M. (1988). Speech to the College of Europe (“The Bruges Speech”).

Bibliography

Baber, G. (2010). The Impact of Legislation and Regulation on the Freedom of Movement of Capital in Estonia, Poland and Latvia. Newcastle-upon-Tyne: Cambridge Scholars Publishing.
Baber, G. (2012a). From MiFID to MiFID II: A steady transition. Company Lawyer, 33(10), 316-317.
Baber, G. (2012b). International financial regulation: order or chaos? Company Lawyer, 33(1), 17-18.
Baber, G. (2012c). Preferred stock: wisely named? Company Lawyer, 33(5), 129-130.
Baber, G. (2013a). The EMIR of Strasbourg: A three-year journey from Pittsburgh. Company Lawyer, 34(4), 117-119.
Baber, G. (2013b). The EMIR of Strasbourg: changing the financial landscape of the EEA. Company Lawyer, 34(9), 285-286.
Baber, G. (2013c). UK Banking and the Financial Crisis: What lessons have we learned? BPP Law School Opinion Piece, April 2013, 1-10.
Baber, G. (2014a). Legislative and regulatory responses to the global financial crisis from within the United Kingdom. Journal of Financial Crime, 21(2), 124-148.
Baber, G. (2014b). The Free Movement of Capital and Financial Services: An Exposition? Newcastle-upon-Tyne: Cambridge Scholars Publishing.
Baber, G. (2014c). The Prudential Regulation Authority: special measures for special times. Company Lawyer, 35(12), 353-360.
Baber, G. (2015a). Banking law in the EU: has the law come of age? Company Lawyer, 36(12), 369-370.
Baber, G. (2015b). Deposit guarantee and bank recovery: leads from the financial crisis? Company Lawyer, 36(3), 83-85.
Baber, G. (2015c). “The European Union’s legislative response to the global financial crisis: A perspective taken from 2015.” In The Global Financial Crisis: Causes, Consequences and Impact on Economic Growth, edited by J. Barnett, 89-158. New York: Nova Science Publishers, Inc.
Baber, G. (2015d). Venture capital in Europe: something ventured, something gained? Company Lawyer, 36(10), 310-313.
Baber, G. (2016). Banking in the European Union: hard Acts to follow? Company Lawyer, 37(3), 82-84.
Basel Committee on Banking Supervision (2010). Report and Recommendations of the Cross-border Bank Resolution Group: March 2010. Basel: Bank for International Settlements. http://www.bis.org/publ/bcbs169.pdf.
Basel Committee on Banking Supervision (2015). Ninth progress report on adoption of the Basel regulatory framework: October 2015. Basel: Bank for International Settlements. http://www.bis.org/bcbs/publ/d338.pdf.
Committee for the Study of Economic and Monetary Union (1989). Report on economic and monetary union in the European Community: Presented April, 17, 1989. http://aei.pitt.edu/1007/1/monetary_delors.pdf.
Devnani, S., Godschalk, H., Klinger, H., Korus, K., Mantovani, I., Muller, P., Reifner, U., Riefa, C., Sinn, M. & Tiffe, A. (2013). Study on the impact of Directive 2007/64/EC on payment services in the internal market and on the application of Regulation (EC) No 924/2009 on cross-border payments in the Community, Contract MARKT/ 2011/120/H3/ST/OP: Final Report – Prepared by London Economics and institut für finanzdienstleistungen e.V. in association with PaySys Consultancy GmbH, February 2013. http://ec.europa.eu/finance/payments/docs/framework/130724_study-impact-psd-annex_en.pdf.
Dixon, H. (2014). Unlocking Europe’s capital markets union. Centre for European Reform, October 2014, 1-8.
European Banking Authority (2015a). Consultation Paper: Draft Regulatory Technical Standards on separation of payment card schemes and processing entities under Article 7(6) of Regulation (EU) 2015/761, EBA/CP/2015/24, London, 08/12/15. https://www.eba.europa.eu/documents/10180/1303831/EBA-CP-2015-24+%28CP+on+RTS+on+separation+under+IFR+%29.pdf.
European Banking Authority (2015b). Top Management, London, 10/12/15. http://www.eba.
europa.eu/about-us/organisation/top-management.
European Banking Authority (2016). Joint Committee, London. 14/03/16. http://www. eba.europa.eu/about-us/organisation/joint-committee.
European Central Bank (2015). Financial Integration in Europe: April 2015, Frankfurt am Main, https://www.ecb.europa.eu/pub/pdf/other/financialintegrationineurope201504.
en.pdf# page=6&zoom=auto,-14,792.
European Central Bank (2016). ECB Banking Supervision: SSM priorities 2016, Frankfurt am Main, 06/01/16. https://www.bankingsupervision.europa.eu/ecb/pub/pdf/publication_
supervisory_priorities_2016.en.pdf.
European Commission (1985). Completing the internal market, COM(85) 310 final, 14/06/85. http://europa.eu/documents/comm/white_papers/pdf/com1985_0310_f_en.pdf.
European Commission (1999). Financial S€rvices: Implementing the framework for financial markets: Action Plan, COM(1999)232, 11/05/99. http://ec.europa.eu/internal_market/
finances/docs/actionplan/index/action_en.pdf.
European Commission (2001a). Final Report of the Committee of Wise Men on the Regulation of European Securities Markets, Brussels, 15/02/01. http://ec.europa.eu/
finance/securities/docs/lamfalussy/wisemen/final-report-wise-men_en.pdf.
European Commission (2001b). Press release: Financial services: Commission proposes Directive on insider dealing and market manipulation, IP/01/758, Brussels, 30/05/01. http://europa.eu/rapid/press-release_IP-01-758_en.htm?locale=en.
European Commission (2001c). Proposed Directive on Prospectuses – Frequently Asked Questions, MEMO/01/204, Brussels, 30/05/01. http://europa.eu/rapid/press-release_MEMO-01-204_en.htm?locale=en.
European Commission (2001d). The Market Abuse Directive – Frequently Asked Questions, MEMO/01/203, Brussels, 30/05/01. http://europa.eu/rapid/press-release_MEMO-01-203_en.htm?locale=en.
European Commission (2001e). The Proposed Prospectus Directive: Frequently asked questions, MARKT F2/HGD/NDB D(2001), Brussels, 28/09/01. http://ec.europa.eu/ internal_market/securities/docs/prospectus/2001-09-faq_en.pdf.
European Commission (2002a). Press release: Investment services: proposed new Directive would protect investors and help investment firms operate EU-wide, IP/02/1706, Brussels, 19/11/02. http://europa.eu/rapid/press-release_IP-02-1706_en.htm?locale=en.
European Commission (2002b). Proposal for Directive on investment services and regulated markets – frequently asked questions, MEMO/02/257, Brussels, 19/11/02. http://europa.
eu/rapid/press-release_MEMO-02-257_en.htm?locale=en.
European Commission (2003). Press release: Securities markets: Commission proposes Directive to increase investor protection and transparency, IP/03/436, Brussels, 26/03/03. http://europa.eu/rapid/press-release_IP-03-436_en.htm?locale=en.
European Commission (2004a). Press release: Financial services: final adoption of Transparency Directive will help investors and boost trust in markets, IP/04/1508, Brussels, 17/12/04. http://europa.eu/rapid/press-release_IP-04-1508_en.htm?locale=en.
European Commission (2004b). Press release: Investment Services: final adoption of Directive is boost for investment firms and their clients, IP/04/546, Brussels, 27/04/04. http://europa.eu/rapid/press-release_IP-04-546_en.htm?locale=en.
European Commission (2007). Review of the Lamfalussy process – Strengthening supervisory convergence, COM(2007) 727 final, 20/11/07. http://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=URISERV:l32056&from=CS.
European Commission (2008a). Improved EU framework for investment funds – Frequently Asked Questions, MEMO/08/510, Brussels, 16/07/08. http://europa.eu/rapid/press-release_MEMO-08-510_en.htm?locale=fr.
European Commission (2008b). Lamfalussy League Table – Transposition of Lamfalussy Directives: State of play as at 19/12/2008. http://ec.europa.eu/finance/securities/
docs/transposition/table_en.pdf.
European Commission (2009). The High-Level Group on Financial Supervision in the EU, Chaired by Jacques de Larosière: Report, Brussels, 25/02/09. http://ec.europa.eu/
internal_market/finances/docs/de_larosiere_report_en.pdf.
European Commission (2010). Proposal for a Directive of the European Parliament and of the Council amending Directive 97/9/EC of the European Parliament and of the Council on investor-compensation schemes, COM(2010) 371 final, Brussels, 12/07/10. http://ec.europa.eu/internal_market/securities/docs/isd/dir-97-9/proposal-modification_en.pdf.
European Commission (2011a). European Social Entrepreneurship Funds – Frequently Asked Questions, MEMO/11/881, Brussels, 07/12/11. http://europa.eu/rapid/press-release_ MEMO-11-881_en.pdf.
European Commission (2011b). Regulation on Short Selling and Credit Default Swaps – Frequently Asked Questions, MEMO/11/713, Brussels, 19/10/11. http://europa.eu/rapid/
press-release_MEMO-11-713_en.htm?locale=en.
European Commission (2013a). European Long-term Investment Funds – frequently asked questions, MEMO/13/611, Brussels, 26/06/13. http://europa.eu/rapid/press-release_MEMO-13-611_en.pdf.
European Commission (2013b). Payment Services Directive and Interchange fees Regulation: frequently asked questions, MEMO/13/71, Brussels, 24/07/13. http://europa.eu/ rapid/press-release_MEMO-13-719_en.pdf.
European Commission (2013c). Six-pack? Two-pack? Fiscal compact? A short guide to the new EU fiscal governance. http://ec.europa.eu/economy_finance/articles/governance/
2012-03-14_six_pack_en.htm.
European Commission (2013d). ‘Two-Pack’ enters into force, completing budgetary surveillance cycle and further improving economic governance for the euro area, MEMO/13/457, Brussels, 27/05/13. http://europa.eu/rapid/press-release_MEMO-13-457_en.htm.
European Commission (2014a). Commission Recommendation of 12.3.2014 on a new approach to business failure and insolvency, C(2014) 1500 final, Brussels, 12/03/14. http://ec.europa.eu/justice/civil/files/c_2014_1500_en.pdf.
European Commission (2014b). Regulation on securities settlement and on Central Securities Depositories in the EU (‘CSD Regulation’) – Frequently Asked Questions, MEMO/14/312, Brussels, 16/04/14. http://europa.eu/rapid/press-release_MEMO-14-312_en.htm?locale=en.
European Commission (2014c). Report from the Commission to the European Parliament and the Council on the operation of the European Supervisory Authorities (ESAs) and the European System of Financial Supervision (ESFS), COM(2014) 509 final, Brussels, 08/08/14. http://ec.europa.eu/finance/general-policy/docs/committees/140808-esfs-review
_en.pdf.
European Commission (2014d). Undertakings for collective investment in transferable securities – amended Directive (UCITS V): Frequently asked questions, MEMO/14/298, Brussels, 15/04/14. http://europa.eu/rapid/press-release_MEMO-14-298_en.htm?locale
=en.
European Commission (2015a). Commission Delegated Regulation (EU) …/… of 30.11.2015 supplementing Directive 2003/71/EC of the European Parliament and of the Council with regard to regulatory technical standards for approval and publication of the prospectus and dissemination of advertisements and amending Commission Regulation (EC) No 809/2004, C(2015) 8379 final, Brussels, 30/11/15. http://ec.europa.eu/finance/securities/
docs/prospectus/151130-delegated-regulation_en.pdf.
European Commission (2015b). Commission Staff Working Document: Economic Analysis, Accompanying the document ‘Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union,’ SWD(2015) 183 final, Brussels, 30/09/15. http://ec.europa.eu/finance/capital-markets-union/docs/building-cmu-economic-analysis_en.pdf.
European Commission (2015c). Commission Staff Working Document: Feedback Statement on the Green Paper “Building a Capital Markets Union,” Accompanying the document ‘Communication for the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union,’ SWD(2015) 184 final, Brussels, 30/09/15. http://ec.europa.eu/finance/consultations/2015/capital-markets-union/docs/summary-of-responses_en.pdf.
European Commission (2015d). Commission Staff Working Document: Initial reflections on the obstacles to the development of deep and integrated EU capital markets, Accompanying the document ‘Green Paper: Building a Capital Markets Union,’ SWD(2015) 13, Brussels, 18/02/15. http://ec.europa.eu/finance/consultations/
2015/capital-markets-union/docs/staff-working-document_en.pdf.
European Commission (2015e). Communication from the Commission to the European Parliament and the Council: A Fair and Efficient Corporate Tax System in the European Union: 5 Key Areas for Action, COM(2015) 302 final, Brussels, 17/06/15. http://ec.europa.eu/taxation_customs/resources/documents/taxation/company_tax/fairer_corporate_taxation/com_2015_302_en.pdf.
European Commission (2015f). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Action Plan on Building a Capital Markets Union, COM(2015) 468 final, Brussels, 30/09/15. http://ec.europa.eu/finance/capital-markets-union/docs/building-cmu-action-plan_en.pdf.
European Commission (2015g). Completing Europe’s Economic and Monetary Union: Report by Jean-Claude Juncker in close cooperation with Donald Tusk, Jeroen Dijsselbloem, Mario Draghi and Martin Schulz, Brussels, 22/06/15, http://ec.europa.eu/ priorities/economic-monetary-union/docs/5-presidents-report_en.pdf.
European Commission (2015h). Consultation Document: Review of the Prospectus Directive, Brussels, 18/02/15. http://ec.europa.eu/finance/consultations/2015/prospectus-directive/
docs/consultation-document_en.pdf.
European Commission (2015i). Green Paper: Building a Capital Markets Union, COM(2015) 63 final, Brussels, 18/02/15. http://ec.europa.eu/finance/consultations/2015/capital-markets-union/docs/green-paper_en.pdf.
European Commission (2015j). Implementing Technical Standards supplementing Regulation (EU) 575/2013 (CRR) and Directive 2013/36/EU (CRD): State of play, Brussels, 18/12/15. http://ec.europa.eu/finance/bank/docs/regcapital/acts/overview-crr-crdiv-its_
en.pdf.
European Commission (2015k). Proposal for a Regulation of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading, COM(2015) 583 final, Brussels, 30/11/15. http://eur-lex.europa.eu/resource.html?uri=cellar:036c16c7-9763-11e5-983e-01aa75ed71a1.0006.02/DOC_1&format=PDF.
European Commission (2015l). Regulatory Technical Standards supplementing Regulation (EU) 575/2013 (CRR) and Directive 2013/36/EU (CRD): State of play, Brussels, 19/11/15. http://ec.europa.eu/finance/bank/docs/regcapital/acts/overview-crr-crdiv-rts_
en.pdf.
European Commission (2015m). Re-launch of the Common Consolidated Corporate Tax Base (CCCTB). http://ec.europa.eu/taxation_customs/common/consultations/tax/
relaunch_ccctb_en.htm.
European Commission (2016a). Double announcements on Northern Ireland from Commissioner Crętu. http://ec.europa.eu/regional_policy/en/newsroom/news/2016/01/18-01-2016-double-announcements-on-northern-ireland-from-commissioner-cretu.
European Commission (2016b). Press release: Commission extends by one year the application date for the MiFID II package, IP/16/265, Brussels, 10/02/04. http://europa.eu/rapid/press-release_IP-16-265_en.htm?locale=en.
European Commission (2016c). Proposal for a Directive of the European Parliament and of the Council amending Directive 2014/65/EU on markets in financial instruments as regards certain dates, COM(2016) final, Brussels, 10/02/16. http://ec.europa. eu/finance/securities/docs/isd/mifid/160210-directive-amending-mifid_en.pdf.
European Commission (2016d). Proposal for a Regulation of the European Parliament and of the Council amending Regulation (EU) No 600/2014 on markets in financial instruments, Regulation (EU) No 596/2014 on market abuse and Regulation (EU) No 909/2014 on improving securities settlement in the European Union and on central securities depositories as regards certain dates, COM(2016) final, Brussels, 10/02/16. http://ec.europa.eu/finance/securities/docs/isd/mifid/160210-regulation-amending-mifir_en.pdf.
European Communities (1986). The Single European Act, Luxembourg, 17/02/86.
European Council (2012). Treaty on Stability, Coordination and Governance in the Economic and Monetary Union between the Kingdom of Belgium, the Republic of Bulgaria, the Kingdom of Denmark, the Federal Republic of Germany, the Republic of Estonia, Ireland, the Hellenic Republic, the Kingdom of Spain, the French Republic, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Grand Duchy of Luxembourg, Hungary, Malta, the Kingdom of the Netherlands, the Republic of Austria, the Republic of Poland, the Portuguese Republic, Romania, the Republic of Slovenia, the Slovak Republic, the Republic of Finland and the Kingdom of Sweden, Brussels, 02/03/12. http://www.consilium.europa.eu/en/workarea/
downloadAsset.aspx?id=27066.
European Council (2015). Cover Note from the General Secretariat of the Council to Delegations, EUCO 22/15, Brussels, 26/06/15. www.consilium.europa.eu/en/meetings/
european-council/2015/06/EUCO-conclusions-pdf/.
European Court of Justice (1979). 120/78 Rewe-Zentral v Bundesmonopolverwaltung für Branntwein [1979]. ECR 649.
European Court of Justice (2002). C367/98 Commission v Portugal [2002]. I-4731.
European Court of Justice (2003). C463/00 Commission v Spain [2003]. I-4581.
European Insurance and Occupational Pensions Authority (2015). EIOPA Organigram 2015, Frankfurt am Main, 10/12/15. https://eiopa.europa.eu/Publications/Administrative/
EIOPA%20Organigram%202015%2011.pdf.
European Insurance and Occupational Pensions Authority (2016). Joint Committee, Frankfurt am Main, 14/03/16. https://eiopa.europa.eu/about-eiopa/organisation/joint-committee.
European Parliament (2015). Evaluating EU Economic Governance: Elements for the debate on the “Six-Pack” and “Two-Pack.” January 2015. http://www.europarl.europa.eu/
RegData/etudes/BRIE/2015/536374/EPRS_BRI%282015%29536374_REV1_EN.pdf.
European Securities and Markets Authority (2015a). Commission des opérations de bourse – Press Release: The Creation of the Forum of European Securities Commissions (FESCO), FD1047, 09/12/97. http://www.esma.europa.eu/system/files/FD1047.pdf.
European Securities and Markets Authority (2015b). Competent Authorities for Central Securities Depositories (CSDs) designated in accordance with Article 11(1) of Regulation (EU) No 909/2014 (CSDR), Paris, 22/07/15. https://www.esma.europa.eu/sites/default/
files/library/competentauthoritiesundercsdr.pdf.
European Securities and Markets Authority (2015c). CRA Authorisation, Paris, 01/12/15. https://www.esma.europa.eu/supervision/credit-rating-agencies/risk.
European Securities and Markets Authority (2015d). Draft technical standards under CSDR: Annex II to the Final Report on the draft technical standards under the Regulation No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 (CSDR), ESMA/2015/1457/Annex II, Paris, 28/09/15. https://www.esma.europa.eu/sites/
default/files/library/2015/11/2015-esma-1457_-_annex_ii_-_csdr_ts_on_csd_
requirements_and_internalised_settlement.pdf.
European Securities and Markets Authority (2015e). Final Report: Draft technical standards on the Market Abuse Regulation, ESMA/2015/1455, Paris, 28/09/15. https://www. esma.europa.eu/sites/default/files/library/2015/11/2015-esma-1455_-_final_report_mar_ ts.pdf.
European Securities and Markets Authority (2015f). List of Central Counterparties authorised to offer services and activities in the Union, Paris, 30/10/15. https://www.
esma.europa.eu/sites/default/files/library/ccps_authorised_under_emir.pdf.
European Securities and Markets Authority (2015g). Who is who, Paris, 10/12/15. https://www.esma.europa.eu/page/Whos-who.
European Securities and Markets Authority (2016a). Joint Committee, Paris, 14/03/16. https://www.esma.europa.eu/sections/joint-committee.
European Securities and Markets Authority (2016b). List of third-country Central Counterparties recognised to offer services and activities in the Union, Paris, 27/01/16. https://www.esma.europa.eu/sites/default/files/library/third-country_ccps_recognised_under_emir.pdf.
European Securities and Markets Authority (2016c). Market Abuse and Accepted Practices, Paris, 25/01/16. https://www.esma.europa.eu/regulation/trading/market-abuse.
European Securities and Markets Authority (2016d). OTC derivatives and clearing obligation, Paris, 15/02/16. https://www.esma.europa.eu/regulation/post-trading/otc-derivatives-and-clearing-obligation.
European Securities and Markets Authority (2016e). Questions and Answers: Implementation of the Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR), ESMA/2016/293, Paris, 16/02/16. https://www.esma.europa.eu/
sites/default/files/library/2016-293_qa_xvi_on_emir_implementation.pdf.
European Systemic Risk Board (2015). Permanent members of the ESRB General Board, Frankfurt am Main, 07/12/15. https://www.esrb.europa.eu/pub/pdf/other/Perm_
memb_GB.pdf?4571846b1be15137940de88b5ddadae4.
European Union (2015). Traité instituant la Communauté Économique Européenne et documents annexes, 25/03/57. http://eur-lex.europa.eu/legal-content/FR/TXT/PDF/?uri=
CELEX:11957E/TXT&qid=1435339846434&from=EN.
Financial Stability Board (2011a). Consumer Finance Protection with particular focus on credit, Basel, 26/10/11. http://www.financialstabilityboard.org/wp-content/uploads/
r_111026a.pdf.
Financial Stability Board (2011b). Key Attributes of Effective Resolution Regimes for Financial Institutions, Basel, October 2011. http://www.financialstabilityboard.org/wp-content/uploads/r_111104cc.pdf?page_moved=1.
Financial Stability Board (2012). Enhancing the Risk Disclosures of Banks: Report of the Enhanced Disclosure Task Force, Basel, 29/10/12. http://www.
financialstabilityboard.org/wp-content/uploads/r_121029.pdf?page_moved=1.
Financial Stability Board (2014). Key Attributes of Effective Resolution Regimes for Financial Institutions, Basel, 15/10/14. http://www.financialstabilityboard.org/wp-content/uploads/r_141015.pdf.
Financial Stability Board (2015a). FSB Members. http://www.financialstabilityboard.org/
about/fsb-members/.
Financial Stability Board (2015b). Implementation and effects of the G20 financial regulatory reforms: Report of the Financial Stability Board to G20 Leaders, 09/11/15. http://www.financialstabilityboard.org/wp-content/uploads/Report-on-implementation-and-effects-of-reforms-final.pdf.
Financial Stability Board (2015c). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms – Finishing the Post-Crisis Agenda and Moving Forward, 04/02/15. http://www.
financialstabilityboard.org/wp-content/uploads/FSB-Chair-letter-to-G20-February-2015.pdf.
Financial Stability Board (2015d). Letter from the Chairman of the Financial Stability Board to G20 Finance Ministers and Central Bank Governors: Financial Reforms – Progress on the Work Plan for the Antalya Summit, 05/10/15. http://www.
financialstabilityboard.org/wp-content/uploads/FSB-Chairs-letter-to-G20-Mins-and-Govs-5-October-2015.pdf.
Financial Stability Board (2015e). Letter from the Chairman of the Financial Stability Board to G20 Leaders: Financial Reforms – Achieving and Sustaining Resilience for All, 09/11/15. http://www.financialstabilityboard.org/wp-content/uploads/FSB-Chairs-letter-to-G20-Leaders-9-Nov.pdf.
Financial Stability Board (2015f). Principles for Cross-border Effectiveness of Resolution Actions. 03/11/15. http://www.financialstabilityboard.org/wp-content/uploads/
Principles-for-Cross-border-Effectiveness-of-Resolution-Actions.pdf.
G20 (2007). The Group of Twenty: a History. http://www.g20.utoronto.ca/docs/ g20history.pdf.
G20 (2008). Declaration Summit on Financial Markets and the World Economy, Washington D.C., 15/11/08. https://g20.org/wp-content/uploads/2014/12/Washington_Declaration_
0.pdf.
G20 (2009a). Declaration on Strengthening the Financial System – London Summit, London, 02/04/09. www.g20.utoronto.ca/2009/2009ifi.pdf.
G20 (2009b). London Summit – Leaders’ Statement, London, 02/04/09. https://www.
imf.org/external/np/sec/pr/2009/pdf/g20_040209.pdf.
G20 (2009c). Leaders’ Statement: The Pittsburgh Summit, Pittsburgh, 25/09/09. https://g20.org/wp-content/uploads/2014/12/Pittsburgh_Declaration_0.pdf.
G20 (2010a). Innovative Financial Inclusion: Principles and Report on Innovative Financial Inclusion from the Access through Innovation Sub-Group of the G20 Financial Inclusion Experts Group, 25/05/10. http://www.gpfi.org/sites/default/files/documents/
Principles%20and%20Report%20on%20Innovative%20Financial%20Inclusion_0.pdf.
G20 (2010b). Toronto Summit: Declaration, Toronto, 27/06/10. http://www.
g20.utoronto.ca/2010/g20_declaration_en.pdf.
G20 (2010c). The G20 Seoul Summit Leaders’ Declaration, Seoul, 12/11/10. https://g20.org/wp-content/uploads/2014/12/Seoul_Summit_Leaders_Declaration.pdf.
G20 (2010d). The Seoul Summit Document, Seoul, 12/11/10. https://g20.org/wp-content/uploads/2014/12/Seoul_Summit_Document.pdf.
G20 (2011). Cannes Summit final declaration – Building our Common Future: Renewed Collective Action For the Benefit of All, Cannes, 04/11/11. https://g20.org/wp-content/uploads/2014/12/Declaration_eng_Cannes.pdf.
G20 (2012). G2012 Los Cabos México: G20 Leaders Declaration, Los Cabos, 19/06/12. http://www.g20.utoronto.ca/2012/2012-0619-loscabos.pdf.
G20 (2013). Russia G20: G20 Leaders’ Declaration, St. Petersburg, 06/09/13. https://g20.org/wp-content/uploads/2014/12/Saint_Petersburg_Declaration_ENG_0.pdf.
G20 (2014). G20 Australia 2014: G20 Leaders’ Communiqué – Brisbane Summit, Brisbane, 16/11/14. https://g20.org/wp-content/uploads/2014/12/brisbane_g20_leaders_summit_
communique1.pdf.
G20 (2015a). G20 Members. < https://g20.org/about-g20/g20-members/>.
G20 (2015b). G20 Turkey 2015: G20 Leaders Communiqué – Antalya Summit, Antalya, 16/11/15.
Global Partnership for Financial Inclusion (2011). GPFI Report to the Leaders: G20 Leaders Summit, Cannes, 05/11/11. http://www.gpfi.org/sites/default/files/documents/GPFI%
20report%20to%20G-20.pdf.
Global Partnership for Financial Inclusion (2012), The G20 Basic Set of Financial Inclusion Indicators. http://www.gpfi.org/sites/default/files/G20%20Basic%20Set%20of%20Financial%20Inclusion%20Indicators.pdf.
International Monetary Fund (2015). International Monetary Fund Factsheet: IMF Quotas: 24/09/15. http://www.imf.org/external/np/exr/facts/pdf/quotas.pdf.
Joint Committee of the European Supervisory Authorities (2014). Joint Guidelines on the convergence of supervisory practices relating to the consistency of supervisory coordination arrangements for financial conglomerates, JC/GL/2014/01, 22/12/14. https://www.eba.europa.eu/documents/10180/936042/JC+GL+2014+01+%28Joint+Guidelines+on+coordination+arrangements+for+financi....pdf.
Joint Committee of the European Supervisory Authorities (2015a). Joint Committee: List of Identified Financial Conglomerates as per 31 December 2014 figures. JC 2015 079, 19/10/15. http://www.eba.europa.eu/documents/10180/1294818/JC+2015+079+%
282015+list+of+identified+Financial+Conglomerates%29_Final.pdf.
Joint Committee of the European Supervisory Authorities (2015b). Second Consultation Paper: Draft Regulatory Technical Standards on risk-management techniques for OTC-derivative contracts not cleared by a CCP under Article 11(15) of Regulation (EU) No 648/2012, JC/CP/2015/002, 10/06/15. https://www.eba.europa.eu/documents/
10180/1106136/JC-CP-2015-002+JC+CP+on+Risk+Management+Techniques+for+
OTC+derivatives+.pdf.
Juncker, J.-C. (2014). A New Start for Europe: My Agenda for Jobs, Growth, Fairness and Democratic Change – Political Guidelines for the next European Commission, Strasbourg, 15/07/14. http://ec.europa.eu/priorities/docs/pg_en.pdf.
Kaya, O. (2015). Capital Markets Union: An ambitious goal, but few quick wins. Deutsche Bank Research: EU Monitor – Global financial markets, 02/11/15, 1-20.
Lannoo, K. (2015a). Detailed CMU Action Plan, but more (ambition) is required. ECMI Commentary, No.39/2 October 2015, 1-3.
Lannoo, K. (2015b). Which Union for Europe’s Capital Markets? ECMI Policy Brief, No.22/February 2015, 1-9.
Lannoo, K., Pollack, A., & Staehr, O. (2015). Keep capital markets union simple. ECMI Commentary, No.38/July 2015, 1-2.
Majone, G. (2005). Dilemmas of European Integration: The Ambiguities & Pitfalls of Integration by Stealth. Oxford: Oxford University Press.
Morland, M. (2015). Times cartoons: Dave and the Beanstalk, The Times, 29/12/15, 71792, 27.Official Journal of the European Communities (1977). First Council Directive 77/780/EEC of 12 December 1977 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions, L322/30-L322/37; amended by: Official Journal of the European Communities (1989), Second Council Directive 89/646/EEC of 15 December 1989 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions and amending Directive 77/780/EEC; corrected by: Official Journal of the European Communities (1990), Corrigendum to the second Council Directive 89/646/EEC of 15 December 1989 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions and amending Directive 77/780/EEC, L158/87; Official Journal of the European Communities (1990), Corrigendum to the second Council Directive 89/646/EEC of 15 December 1989 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions and amending Directive 77/780/EEC, L258/35; repealed by: Official Journal of the European Communities (2000), Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions, L126/1-L126/59.Official Journal of the European Communities (1978). Fourth Council Directive 78/660/EEC of 25 July 1978 based on Article 54(3)(g) of the Treaty on the annual accounts of certain types of companies, L222/11-L222/31; amended by: Official Journal of the European Communities (1979), Act concerning the conditions of accession of the Hellenic Republic and the adjustments to the Treaties, L291/17-L291/177; Official Journal of the European Communities (1983), Seventh Council Directive 83/349/EEC of 13 June 1983 based on the Article 54(3)(g) of the Treaty on consolidated accounts, L193/1-L193/17; Official Journal of the European Communities (1984), Council Directive 84/569/EEC of 27 November 1984 revising the amounts expressed in ECU in Directive 78/660/EEC, L314/28; Official Journal of the European Communities (1985), Act concerning the conditions of accession of the Kingdom of Spain and the Portuguese Republic and the adjustments to the Treaties, L302/23-L302/465; Official Journal of the European Communities (1989), Eleventh Council Directive 89/666/EEC of 21 December 1989 concerning disclosure requirements in respect of branches opened in a Member State by certain types of company governed by the law of another State, L395/36-L395/39; Official Journal of the European Communities (1990), Council Directive 90/604/EEC of 8 November 1990 amending Directive 78/660/EEC on annual accounts and Directive 83/349/EEC on consolidated accounts as concerns the exemptions for small and medium-sized companies and the publication of accounts in ecus, L317/57-L317/59; Official Journal of the European Communities (1990), Council Directive 90/605/EEC of 8 November 1990 amending Directive 78/66//EEC on annual accounts and Directive 83/349/EEC on consolidated accounts as regards the scope of those Directives, L317/60-L317/62; Official Journal of the European Communities (1994), Council Directive 94/8/EC of 21 March 1994 amending Directive 78/660/EEC as regards the revision of amounts expressed in ecus, L82/33-L82/34; Official Journal of the European Communities (1994), Act concerning the conditions of accession of the Kingdom of Norway, the Republic of Austria, the Republic of Finland and the Kingdom of Sweden and the adjustments to the Treaties on which the European Union is founded, C241/21-C241/370, adapted by: Official Journal of the European Communities (1995), Decision 95/1/EC, Euratom, ECSC, of 1 January 1995 adjusting the instruments concerning the accession of new Member States to the European Union, L1/1-L1/219; Official Journal of the European Communities (1999), Council Directive 1999/60/EC of 17 June 1999 amending Directive 78/660/EEC as regards amounts expressed in ecus, L162/65-L162/66; Official Journal of the European Communities (2001), Directive 2001/65/EC of the European Parliament and of the Council of 27 September 2001 amending Directives 78/660/EEC, 83/349/EEC and 86/635/EEC as regards the valuation rules for the annual and consolidated accounts of certain types of companies as well as of banks and other financial institutions, L283/28-L283/32; Official Journal of the European Communities (2003), Council Directive 2003/38/EC of 13 May 2003 amending Directive 78/660/EEC on the annual accounts of certain types of companies as regards amounts expressed in euro, L120/22-L120/23; Official Journal of the European Union (2003), Directive 2003/51/EC of the European Parliament and of the Council of 18 June 2003 amending Directives 78/660/EEC, 83/349/EEC, 86/635/EEC and 91/674/EEC on the annual and consolidated accounts of certain types of companies, banks and other financial institutions and insurance undertakings, L178/16-L178/22; Official Journal of the European Union (2003), Act concerning the conditions of accession of the Czech Republic, the Republic of Estonia, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic and the adjustments to the Treaties on which the European Union is founded, L236/33-L236/955; Official Journal of the European Union (2006), Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC, L157/87-L157/107; Official Journal of the European Union (2006), Directive 2006/46/EC of the European Parliament and of the Council of 14 June 2006 amending Council Directives 78/660/EEC on the annual accounts of certain types of companies, 83/349/EEC on consolidated accounts, 86/635/EEC on the annual accounts and consolidated accounts of banks and other financial institutions and 91/674/EEC on the annual accounts and consolidated accounts of insurance undertakings, L224/1-L224/7; Official Journal of the European Union (2006), Council Directive 2006/99/EC of 20 November 2006 adapting certain Directives in the field of company law, by reason of the accession of Bulgaria and Romania, L363/137-L363/140; Official Journal of the European Union (2009), Directive 2009/49/EC of the European Parliament and of the Council of 18 June 2009 amending Council Directives 78/660/EEC and 83/349/EEC as regards certain disclosure requirements for medium-sized companies and the obligation to draw up consolidated accounts, L164/42-L164/44; Official Journal of the European Union (2012), Directive 2012/6/EU of the European Parliament and of the Council of 14 March 2012 amending Council Directive 78/660/EEC on the annual accounts of certain types of companies as regards micro-entities, L81/3-L81/6; Official Journal of the European Union (2013), Council Directive 2013/24/EU of 13 May 2013 adapting certain directives in the field of company law, by reason of the accession of the Republic of Croatia, L158/365-L158/367; repealed by: Official Journal of the European Union (2013), Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC, L182/19-L182/76.Official Journal of the European Communities (1983). Seventh Council Directive 83/349/EEC of 13 June 1983 based on the Article 54(3)(g) of the Treaty on consolidated accounts, L193/1-L193/17, amended by: Official Journal of the European Communities (1985), Act concerning the conditions of accession of the Kingdom of Spain and the Portuguese Republic and the adjustments to the Treaties, L302/23-L302/465; Official Journal of the European Communities (1989), Eleventh Council Directive 89/666/EEC of 21 December 1989 concerning disclosure requirements in respect of branches opened in a Member State by certain types of company governed by the law of another State, L395/36-L395/39; Official Journal of the European Communities (1990), Council Directive 90/604/EEC of 8 November 1990 amending Directive 78/660/EEC on annual accounts and Directive 83/349/EEC on consolidated accounts as concerns the exemptions for small and medium-sized companies and the publication of accounts in ecus, L317/57-L317/59; Official Journal of the European Communities (1990), Council Directive 90/605/EEC of 8 November 1990 amending Directive 78/66//EEC on annual accounts and Directive 83/349/EEC on consolidated accounts as regards the scope of those Directives, L317/60-L317/62; Official Journal of the European Communities (1994), Act concerning the conditions of accession of the Kingdom of Norway, the Republic of Austria, the Republic of Finland and the Kingdom of Sweden and the adjustments to the Treaties on which the European Union is founded, C241/21-C241/370, adapted by: Official Journal of the European Communities (1995), Decision 95/1/EC, Euratom, ECSC, of 1 January 1995 adjusting the instruments concerning the accession of new Member States to the European Union, L1/1-L1/219; Official Journal of the European Communities (2001), Directive 2001/65/EC of the European Parliament and of the Council of 27 September 2001 amending Directives 78/660/EEC, 83/349/EEC and 86/635/EEC as regards the valuation rules for the annual and consolidated accounts of certain types of companies as well as of banks and other financial institutions, L283/28-L283/32; Official Journal of the European Union (2003), Directive 2003/51/EC of the European Parliament and of the Council of 18 June 2003 amending Directives 78/660/EEC, 83/349/EEC, 86/635/EEC and 91/674/EEC on the annual and consolidated accounts of certain types of companies, banks and other financial institutions and insurance undertakings, L178/16-L178/22; Official Journal of the European Union (2003), Act concerning the conditions of accession of the Czech Republic, the Republic of Estonia, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic and the adjustments to the Treaties on which the European Union is founded, L236/33-L236/955; Official Journal of the European Union (2006), Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC, L157/87-L157/107; Official Journal of the European Union (2006), Directive 2006/46/EC of the European Parliament and of the Council of 14 June 2006 amending Council Directives 78/660/EEC on the annual accounts of certain types of companies, 83/349/EEC on consolidated accounts, 86/635/EEC on the annual accounts and consolidated accounts of banks and other financial institutions and 91/674/EEC on the annual accounts and consolidated accounts of insurance undertakings, L224/1-L224/7; Official Journal of the European Union (2006), Council Directive 2006/99/EC of 20 November 2006 adapting certain Directives in the field of company law, by reason of the accession of Bulgaria and Romania, L363/137-L363/140; Official Journal of the European Union (2009), Directive 2009/49/EC of the European Parliament and of the Council of 18 June 2009 amending Council Directives 78/660/EEC and 83/349/EEC as regards certain disclosure requirements for medium-sized companies and the obligation to draw up consolidated accounts, L164/42-L164/44; Official Journal of the European Union (2013), Council Directive 2013/24/EU of 13 May 2013 adapting certain directives in the field of company law, by reason of the accession of the Republic of Croatia, L158/365-L158/367; corrected by: Official Journal of the European Communities (1983), Corrigendum to Seventh Council Directive 83/349/EEC of 13 June 1983 based on the Article 54(3)(g) of the Treaty on consolidated accounts, L211/31; repealed by: Official Journal of the European Union (2013), Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC, L182/19-L182/76.Official Journal of the European Communities (1985). Council Directive 85/611/EEC of 20 December 1985 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), L375/3-L375/17; amended by: Official Journal of the European Communities (1988), Council Directive 88/220/EEC of 22 March 1988 amending, as regards the investment policies of certain UCITS, Directive 85/611/EEC on the coordination of laws, regulations and adminsitrative provisions relating to undertakings for collective investments in transferable securities (UCITS), L100/31-L100/32; Official Journal of the European Communities (1995), European Parliament and Council Directive 95/26/EC of 29 June 1995 amending Directives 77/780/EEC and 89/646/EEC in the field of credit institutions, Directives 73/239/EEC and 92/49/EEC in the field of non-life insurance, Directives 79/267/EEC and 92/96/EEC in the field of life assurance, Directive 93/22/EEC in the field of investment firms and Directive 85/611/EEC in the field of undertakings for collective investment in transferable securities (Ucits), with a view to reinforcing prudential supervision, L168/7-L168/13; Official Journal of the European Communities (2000), Directive 2000/64/EC of the European Parliament and of the Council of 7 November 2000 amending Council Directives 85/611/EEC, 92/49/EEC, 92/96/EEC and 93/22/EEC as regards exchange of information with third countries, L290/27-L290/28; Official Journal of the European Communities (2002), Directive 2001/107/EC of the European Parliament and of the Council of 21 January 2002 amending Council Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) with a view to regulating management companies and simplified prospectuses, L41/20-L41/34; Official Journal of the European Communities (2002), Directive 2001/108/EC of the European Parliament and of the Council of 21 January 2002 amending Council Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), with regards to investments of UCITS, L41/35-L41/42; Official Journal of the European Union (2004), Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, L145/1-L145/44; Official Journal of the European Union (2005), Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees, L79/9-L79/17; Official Journal of the European Union (2008), Directive 2008/18/EC of the European Parliament and of the Council of 11 March 2008 amending Council Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment and transferable securities (UCITS), as regards the implementing powers conferred on the Commission, L76/42-L76/43; corrected by: Official Journal of the European Union (2005), Corrigendum to Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, L45/18; repealed by: Official Journal of the European Union (2009), Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (recast), L302/32-L302/96.Official Journal of the European Communities (1986). Council Directive 86/635/EEC of 8 December 1986 on the annual accounts and consolidated accounts of banks and other financial institutions, L372/1-L372/17, amended by: Official Journal of the European Communities (2001), Directive 2001/65/EC of the European Parliament and of the Council of 27 September 2001 amending Directives 78/660/EEC, 83/349/EEC and 86/635/EEC as regards the valuation rules for the annual and consolidated accounts of certain types of companies as well as of banks and other financial institutions, L283/28-L283/32; Official Journal of the European Union (2003), Directive 2003/51/EC of the European Parliament and of the Council of 18 June 2003 amending Directives 78/660/EEC, 83/349/EEC, 86/635/EEC and 91/674/EEC on the annual and consolidated accounts of certain types of companies, banks and other financial institutions and insurance undertakings, L178/16-L178/22; Official Journal of the European Union (2006), Directive 2006/46/EC of the European Parliament and of the Council of 14 June 2006 amending Council Directives 78/660/EEC on the annual accounts of certain types of companies, 83/349/EEC on consolidated accounts, 86/635/EEC on the annual accounts and consolidated accounts of banks and other financial institutions and 91/674/EEC on the annual accounts and consolidated accounts of insurance undertakings, L224/1-L224/7.Official Journal of the European Communities (1987). Council Decision 87/373/EEC of 13 July 1987 laying down the procedures for the exercise of implementing powers conferred on the Commission, L197/33-L197/35; repealed by: Official Journal of the European Communities (1999), Council Decision 1999/468/EC of 28 June 1999 laying down the procedures for the exercise of implementing powers conferred on the Commission, L184/23-L184/26.Official Journal of the European Communities (1989). Second Council Directive 89/646/EEC of 15 December 1989 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions and amending Directive 77/780/EEC, corrected by: Official Journal of the European Communities (1990), Corrigendum to the Second Council Directive 89/646/EEC of 15 December 1989 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions and amending Directive 77/780/EEC, L83/128; Official Journal of the European Communities (1990), Corrigendum to the Second Council Directive 89/646/EEC of 15 December 1989 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions and amending Directive 77/780/EEC, L258/35; Official Journal of the European Communities (1997), Corrigendum to the Second Council Directive 89/646/EEC of 15 December 1989 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions and amending Directive 77/780/EEC, L311/34; repealed by: Official Journal of the European Communities (2000), Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions, L126/1-L126/59.Official Journal of the European Communities (1992). Council Directive 92/30/EEC of 6 April 1992 on the supervision of credit institutions on a consolidated basis, L110/52-L110/58, corrected by: Official Journal of the European Communities (1992), Corrigendum of Council Directive 92/30/EEC of 6 April 1992 on the supervision of credit institutions on a consolidated basis, L280/54; repealed by: Official Journal of the European Communities (2000), Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions, L126/1-L126/59.Official Journal of the European Communities (1993a). Council Directive 93/6/EEC of 15 March 1993 on the capital adequacy of investments firms and credit institutions, L141/1-L141/26, amended by: Official Journal of the European Communities (1998), Directive 98/31/EC of the European Parliament and of the Council of 22 June 1998 amending Council Directive 93/6/EEC on the capital adequacy of investment firms and credit institutions, L204/13-L204/25; Official Journal of the European Communities (1998), Directive 98/33/EC of the European Parliament and of the Council of 22 June 1998 amending Article 12 of Council Directive 77/780/EEC on the taking up and pursuit of the business of credit institutions, Articles 2, 5, 6, 7, 8 of and Annexes II and III to Council Directive 89/647/EEC on a solvency ratio for credit institutions and Article 2 of and Annex II to Council Directive 93/6/EEC on the capital adequacy of investment firms and credit institutions, L204/29-L204/36; Official Journal of the European Union (2003), Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council, L35/1-L35/27; Official Journal of the European Union (2004), Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, L145/1-L145/44; Official Journal of the European Union (2005), Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees, L79/9-L79/17; corrected by: Official Journal of the European Communities (1998), Corrigendum to Directive 98/31/EC of the European Parliament and of the Council of 22 June 1998 amending Council Directive 93/6/EEC on the capital adequacy of investment firms and credit institutions, L248/20; Official Journal of the European Union (2005), Corrigendum to Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, L45/18; repealed by: Official Journal of the European Union (2006), Directive 2006/49/EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions (recast), L177/201-L177/255.Official Journal of the European Communities (1993b). Council Directive 93/22/EEC of 10 May 1993 on investment services in the securities field, L141/27-L141/46, amended by: Official Journal of the European Communities (1997), Directive 97/9/EC of the European Parliament and of the Council of 3 March 1997 on investor-compensation schemes, L84/22-L84/31; Official Journal of the European Communities (2000), Directive 2000/64/EC of the European Parliament and of the Council of 7 November 2000 amending Council Directives 85/611/EEC, 92/49/EEC, 92/96/EEC and 93/22/EEC as regards exchange of information with third countries, L290/27-L290/28; Official Journal of the European Union (2003), Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council, L35/1-L35/27; corrected by: Official Journal of the European Communities (1993), Corrigendum to Council Directive 93/22/EEC of 10 May 1993 on investment services in the securities field, L141/32; Official Journal of the European Communities (1993), Corrigendum to Council Directive 93/22/EEC of 10 May 1993 on investment services in the securities field, L194/27; repealed by: Official Journal of the European Union (2004), Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, L145/1-L145/44.Official Journal of the European Communities (1994). Directive 94/19/EC of the European Parliament and of the Council of 30 May 1994 on deposit-guarantee schemes, L135/5-L135/14, amended by: Official Journal of the European Union (2005), Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees, L79/9-L79/17; Official Journal of the European Union (2009), Directive 2009/14/EC of the European Parliament and of the Council of 11 March 2009 amending Directive 94/19/EC on deposit-guarantee schemes as regards the coverage level and the payout delay, L68/3-L68/7; repealed by: Official Journal of the European Union (2014), Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (recast), L173/149-L173/178.Official Journal of the European Communities (1995). European Parliament and Council Directive 95/26/EC of 29 June 1995 amending Directives 77/780/EEC and 89/646/EEC in the field of credit institutions, Directives 73/239/EEC and 92/49/EEC in the field of non-life insurance, Directives 79/267/EEC and 92/96/EEC in the field of life assurance, Directive 93/22/EEC in the field of investment firms and Directive 85/611/EEC in the field of undertakings for collective investments in transferable securities (Ucits), with a view to reinforcing prudential supervision, L168/7-L168/13, amended by: Official Journal of the European Communities (2000), Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions, L126/1-L126/59; Official Journal of the European Communities (2002), Directive 2002/83/EC of the European Parliament and of the Council of 5 November 2002 concerning life assurance, L345/1-L345/51.Official Journal of the European Communities (1997). Directive 97/9/EC of the European Parliament and of the Council of 3 March 1997 on investor-compensation schemes, L84/22-L84/31.Official Journal of the European Communities (1998a). Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems, L166/45-L166/50, amended by: Official Journal of the European Union (2009), Directive 2009/44/EC of the European Parliament and of the Council of 6 May 2009 amending Directive 98/26/EC on settlement finality in payment and securities settlement systems and Directive 2002/47/EC on financial collateral arrangements as regards linked systems and credit claims, L146/37-L146/43; Official Journal of the European Union (2010), Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC., 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L331/120-L331/161; Official Journal of the European Union (2012), Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories, L201/1-L201/59; Official Journal of the European Union (2014), Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012, L257/1-L257/72.Official Journal of the European Communities (1998b). Directive 98/78/EC of the European Parliament and of the Council of 27 October 1998 on the supplementary supervision of insurance undertakings in an insurance group, L330/1-L330/12, amended by: Official Journal of the European Union (2003), Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council, L35/1-L35/27; Official Journal of the European Union (2005), Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees, L79/9-L79/17; Official Journal of the European Union (2005), Directive 2005/68/EC of the European Parliament and of the Council of 16 November 2005 on reinsurance and amending Council Directives 73/239/EEC, 92/49/EEC as well as Directives 98/78/EC and 2002/83/EC, L323/1-L323/50; Official Journal of the European Union (2011), Directive 2011/89/EU of the European Parliament and of the Council of 16 November 2011 amending Directives 98/78/EC, 2002/87/EC, 2006/48/EC and 2009/138/EC as regards the supplementary supervision of financial entities in a financial conglomerate, L326/113-L326/141.Official Journal of the European Communities (1999). Council Decision 1999/468/EC of 28 June 1999 laying down the procedures for the exercise of implementing powers conferred on the Commission, L184/23-L184/26, amended by: Official Journal of the European Union (2006), Council Decision 2006/512/EC of 17 July 2006 amending Decision 1999/468/EC laying down the procedures for the exercise of implementing powers conferred on the Commission, L200/11-L200/13; repealed by: Official Journal of the European Union (2011), Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers, L55/13-L55/18.Official Journal of the European Communities (2000a). Council Regulation (EC) No 1346/2000 of 29 May 2000 on insolvency proceedings, L160/1-L160/18, amended by: Official Journal of the European Union (2003), Act concerning the conditions of accession of the Czech Republic, the Republic of Estonia, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic and the adjustments to the Treaties on which the European Union is founded, L236/33-L236/955; Official Journal of the European Union (2005), Council Regulation (EC) No 603/2005 of 12 April 2005 amending the lists of insolvency proceedings, winding-up proceedings and liquidators in Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings, L100/1-L100/8; Official Journal of the European Union (2006), Council Regulation (EC) No 694/2006 of 27 April 2006 amending the lists of insolvency proceedings, winding-up proceedings and liquidators in Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings, L121/1-L121/13; Official Journal of the European Union (2006), Council Regulation (EC) No 1791/2006 of 20 November 2006 adapting certain Regulations and Decision in the fields of free movement of goods, freedom of movement of persons, company law, competition policy, agriculture (including veterinary and phyto sanitary legislation), transport policy, taxation, statistics, energy, environmnet, cooperation in the fields of justice and home affairs, customs union, external relations, common foreign and security policy and institutions, by reason of the accession of Bulgaria and Romania, L363/1-363/80; Official Journal of the European Union (2007), Council Regulation (EC) No 681/2007 of 13 June 2007 amending the lists of insolvency proceedings, winding-up proceedings and liquidators in Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings, L159/1-L159/13; Official Journal of the European Union (2008), Council Regulation (EC) No 788/2008 of 24 July 2008 amending the lists of insolvency proceedings and winding-up proceedings in Annexes A and B to Regulation (EC) No 1346/2000 on insolvency proceedings and codifying Annexes A, B and C to that Regulation, L213/1-L213/13; Official Journal of the European Union (2010), Implementing Regulation of the Council (EU) No 210/2010 of 25 February 2010 amending the lists of insolvency proceedings, winding-up proceedings and liquidators in Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings and codifying Annexes A, B and C to that Regulation, L65/1-L65/13; Official Journal of the European Union (2011), Council Implementing Regulation (EU) No 583/2011 of 9 June 2011 amending the lists of insolvency proceedings, winding-up proceedings and liquidators in Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings and codifying Annexes A, B and C to that Regulation, L160/52-L160/64; Official Journal of the European Union (2013), Council Regulation (EU) No 517/2013 of 13 May 2013 adapting certain regulations and decisions in the fields of free movement of goods, freedom of movement for persons, company law, competition policy, agriculture, food safety, veterinary and phytosanitary policy, transport policy, energy, taxation, statistics, trans-European networks, judiciary and fundamental rights, justice, freedom and security, environment, customs union, external relations, foreign, security and defence policy and institutions, by reason of the accession of the Republic of Croatia, L158/1-L158/71; Official Journal of the European Union (2014), Council Implementing Regulation (EU) No 663/2014 of 5 June 2014 replacing Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings, L179/4-L179/16; corrected by: Official Journal of the European Union (2007), Corrigendum to Council Regulation (EC) No 603/2005 of 12 April 2005 amending the lists of insolvency proceedings, winding-up proceedings and liquidators in Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings, L49/36.Official Journal of the European Communities (2000b). Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions, L126/1-L126/59, amended by: Official Journal of the European Communities (2000), Directive 2000/28/EC of the European Parliament and of the Council of 18 September 2000 amending Directive 2000/12/EC relating to the taking up and pursuit of the business of credit institutions, L275/37-L275/38; Official Journal of the European Union (2003), Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council, L35/1-L35/27; Official Journal of the European Union (2003), Act concerning the conditions of accession of the Czech Republic, the Republic of Estonia, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic and the adjustments to the Treaties on which the European Union is founded, L236/33-L236/955; Official Journal of the European Union (2004), Commission Directive 2004/69/EC of 27 April 2004 amending Directive 2000/12/EC of the European Parliament and of the Council as regards the definition of ‘multilateral development banks’, L125/44; Official Journal of the European Union (2004), Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, L145/1-L145/44; Official Journal of the European Union (2005), Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees, L79/9-L79/17; Official Journal of the European Union (2006), Commission Directive 2006/29/EC of 8 March 2006 amending Directive 2000/12/EC of the European Parliament and of the Council as regards exclusion or inclusion of certain institutions from the scope of application, L70/50-L70/51; corrected by: Official Journal of the European Union (2005), Corrigendum to Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions, L290/30; Official Journal of the European Union (2005), Corrigendum to Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, L45/18; repealed by: Official Journal of the European Union (2006), Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast), L177/1-L177/200.Official Journal of the European Communities (2000c). Directive 2000/46/EC of the European Parliament and of the Council of 18 September 2000 on the taking up, pursuit and prudential supervision of the business of electronic money institutions, L275/39-L275/43, repealed by: Official Journal of the European Union (2009), Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC, L267/7-L267/17.Official Journal of the European Communities (2001a). Commission Decision 2001/527/EC of 6 June 2001 establishing the Committee of European Securities Regulators, L191/43-L191/44, amended by: Official Journal of the European Union (2004), Commission Decision of 5 November 2003 amending Decision 2001/527/EC establishing the Committee of European Securities Regulators, L3/32; repealed by: Official Journal of the European Union (2009), Commission Decision of 23 January 2009 establishing the Committee of European Securities Regulators, L25/18-L25/22.Official Journal of the European Communities (2001b). Commission Decision 2001/528/EC of 6 June 2001 establishing the European Securities Committee, L191/45-L191/46, amended by: Official Journal of the European Union (2004), Commission Decision of 5 November 2003 amending Decision 2001/528/EC establishing the European Securities Committee, L/33.Official Journal of the European Communities (2001c). Directive 2001/24/EC of the European Parliament and of the Council of 4 April 2001 on the reorganisation and winding up of credit institutions, L125/15-L125/23, amended by: Official Journal of the European Union (2014), Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council, L173/190-L173/348.Official Journal of the European Communities (2001d). Directive 2001/34/EC of the European Parliament and of the Council of 28 May 2001 on the admission of securities to official stock exchange listing and on information to be published on those securities, L184/1-L184/66, amended by: Official Journal of the European Union (2003), Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse), L96/16-L96/25; Official Journal of the European Union (2003), Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC, L345/64-L345/89; Official Journal of the European Union (2004), Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC, L390/38-L390/57; Official Journal of the European Union (2005), Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees, L79/9-L79/17.Official Journal of the European Communities (2002a). Consolidated version of the Treaty Establishing the European Community, C325/33-C326/184, amended by: Official Journal of the European Union (2007), Treaty of Lisbon amending the Treaty on European Union and the Treaty Establishing the European Community, C306/1-C306/271; renamed: Treaty on the Functioning of the European Union.Official Journal of the European Communities (2002b). Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements, L168/43-L168/50, amended by: Official Journal of the European Union (2009), Directive 2009/44/EC of the European Parliament and of the Council of 4 May 2009 amending Directive 98/26/EC on settlement finality in payment and securities settlement systems and Directive 2002/47/EC on financial collateral arrangements as regards linked systems and credit claims, L146/37-L146/43; Official Journal of the European Union (2014), Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council, L173/190-L173/348.Official Journal of the European Communities (2002c). Directive 2002/65/EC of the European Parliament and of the Council of 23 September 2002 concerning the distance marketing of consumer financial services and amending Council Directive 90/619/EEC and Directives 97/7/EC and 98/27/EC, L271/16-L271/24, amended by: Official Journal of the European Union (2005), Directive 2005/29/EC of the European Parliament and of the Council of 11 May 2005 concerning unfair business-to-consumer commercial practices in the internal market and amending Council Directive 84/450/EEC, Directives 97/7/EEC, 98/22/EC and 2002/65/EC of the European Parliament and of the Council and Regulation (EC) No 2006/2004 of the European Parliament and of the Council (‘Unfair Commercial Practices Directive’), L149/22-L149/39; Official Journal of the European Union (2007), Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC, L319/1-L319/36.Official Journal of the European Communities (2002d). Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards, L243/1-L243/4, amended by: Official Journal of the European Union (2008), Regulation (EC) No 297/2008 of the European Parliament and of the Council of 11 March 2008 amending Regulation (EC) No 1606/2002 on the application of international accounting standards, as regards the implementing powers conferred on the Commission, L97/62-L97/63.Official Journal of the European Union (2003a). Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council, L35/1-L35/27, amended by: Official Journal of the European Union (2005), Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees, L79/9-L79/17; Official Journal of the European Union (2008), Directive 2008/25/EC of the European Parliament and of the Council of 11 March 2008 amending Directive 2002/87/EC on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate, as regards the implementing powers conferred on the Commission, L81/40-L81/41; Official Journal of the European Union (2010), Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC., 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L331/120-L331/161; Official Journal of the European Union (2011), Directive 2011/89/EU of the European Parliament and of the Council of 16 November 2011 amending Directives 98/78/EC, 2002/87/EC, 2006/48/EC and 2009/138/EC as regards the supplementary supervision of financial entities in a financial conglomerate, L326/113-L326/141; Official Journal of the European Union (2013), Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC, L176/338-L176/436.Official Journal of the European Union (2003b). Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse), L96/16-L96/25, amended by: Official Journal of the European Union (2008), Directive 2008/26/EC of the European Parliament and of the Council of 11 March 2008 amending Directive 2003/6/EC on insider dealing and market manipulation (market abuse), as regards the implementing powers conferred on the Commission, L81/42-L81/44; Official Journal of the European Union (2010), Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC., 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L331/120-L331/161; repealed by: Official Journal of the European Union (2014), Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC, L173/1-L173/61.Official Journal of the European Union (2003c). Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC, L345/64-L345/89, amended by: Official Journal of the European Union (2008), Directive 2008/11/EC of the European Parliament and of the Council of 11 March 2008 amending Directive 2003/71/EC on the prospectus to be published when securities are offered to the public or admitted to trading, as regards the implementing powers conferred on the Commission, L76/37-L76/38; Official Journal of the European Union (2010), Directive 2010/73/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 2003/71/EC on the prospectus to be published when securities are offered to the public or admitted to trading and 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, L327/1-L327/12; Official Journal of the European Union (2010), Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC., 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L331/120-L331/161; Official Journal of the European Union (2013), Directive 2013/50/EU of the European Parliament and of the Council of 22 October 2013 amending Directive 2004/109/EC of the European Parliament and of the Council on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, Directive 2003/71/EC of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading and Commission Directive 2007/14/EC laying down detailed rules for the implementation of certain provisions of Directive 2004/109/EC, L294/13-L294/27; Official Journal of the European Union (2014), Directive 2014/51/EU of the European Parliament and of the Council of 16 April 2014 amending Directives 2003/71/EC and 2009/138/EC and Regulations (EC) No 1060/2009, (EU) No 1094/2010 and (EU) No 1095/2010 in respect of the powers of the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L153/1-L153/61.Official Journal of the European Union (2003d). Commission Regulation (EC) No 2273/2003 of 22 December 2003 implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buy-back programmes and stabilisation of financial instruments, L336/33-L336/38; repealed by: Official Journal of the European Union (2014), Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC, L173/1-L173/61.Official Journal of the European Union (2004a). Commission Decision 2004/5/EC of 5 November 2003 establishing the Committee of European Banking Supervisors, L3/28-L3/29; repealed by: Official Journal of the European Union (2009), Commission Decision 2009/78/EC of 23 January 2009 establishing the Committee of European Banking Supervisors, L25/23-L25/27; repealed by: Official Journal of the European Union (2009), Commission Decision 2009/78/EC of 23 January 2009 establishing the Committee of European Banking Supervisors, L25/23-L25/27.Official Journal of the European Union (2004b). Commission Decision 2004/6/EC of 5 November 2003 establishing the Committee on European Insurance and Occupational Pensions Supervisors, L3/30-L3/31; repealed by: Official Journal of the European Union (2009), Commission Decision of 23 January 2009 establishing the Committee of European Insurance and Occupational Pensions Supervisors, L25/28-L25/32; repealed by: Official Journal of the European Union (2009), Commission Decision 2009/79/EC of 23 January 2009 establishing the Committee of European Insurance and Occupational Pensions Supervisors, L25/28-L25/32.Official Journal of the European Union (2004c). Commission Regulation (EC) No 809/2004 of 29 April 2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards information contained in prospectuses as well as the format, incorporation by reference and publication of such prospectuses and dissemination of advertisements, L149/1-L149/126, amended by: Official Journal of the European Union (2006), Commission Regulation (EC) No 1787/2006 of 4 December 2006 amending Commission Regulation (EC) 809/2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards information contained in prospectuses as well as the format, incorporation by reference and publication of such prospectuses and dissemination of advertisements, L337/17-L337/20; Official Journal of the European Union (2007), Commission Regulation (EC) No 211/2007 of 27 February 2007 amending Regulation (EC) No 809/2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards financial information in prospectuses where the issuer has a complex financial history or has made a significant financial commitment, L61/24-L61/27; Official Journal of the European Union (2008), Commission Regulation (EC) No 1289/2008 of 12 December 2008 amending Commission Regulation (EC) No 809/2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards elements related to prospectus and advertisements, L340/17-L340/19; Official Journal of the European Union (2012), Commission Delegated Regulation (EU) No 311/2012 of 21 December 2011 amending Regulation (EC) No 809/2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards elements related to prospectuses and advertisements, L103/13-L103/14; Official Journal of the European Union (2012), Commission Delegated Regulation (EU) No 486/2012 of 30 March 2012 amending Regulation (EC) No 809/2004 as regards the format and the content of the prospectus, the base prospectus, the summary and the final terms and as regards the disclosure requirements, L150/1-L150/65; Official Journal of the European Union (2012), Commission Delegated Regulation (EU) No 862/2012 of 4 June 2012 amending Regulation (EC) No 809/2004 as regards information on the consent to use the prospectus, information on underlying indexes and the requirement for a report prepared by independent accountants or auditors, L256/4-L256/13; Official Journal of the European Union (2013), Commission Delegated Regulation (EU) No 621/2013 of 21 March 2013 correcting the Polish version of Regulation (EC) No 809/2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards information contained in prospectuses as well as the format, incorporation by reference and publication of such prospectuses and dissemination of advertisements, L177/14; Official Journal of the European Union (2013), Commission Delegated Regulation (EU) No 759/2013 of 30 April 2013 amending Regulation (EC) No 809/2004 as regards the disclosure requirements for convertible and exchangeable debt securities, L213/1-L213/9; Official Journal of the European Union (2015), Commission Delegated Regulation (EU) No 2015/1604 of 12 June 2015 amending Regulation (EC) No 809/2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards elements related to prospectuses and advertisements, L249/1-L249/2; corrected by: Official Journal of the European Union (2004), Corrigendum to Commission Regulation (EC) No 809/2004 of 29 April 2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards information contained in prospectuses as well as the format, incorporation by reference and publication of such prospectuses and dissemination of advertisements, L215/3-L215/103.Official Journal of the European Union (2004d). Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, L145/1-L145/44, amended by: Official Journal of the European Union (2006), Directive 2006/31/EC of the European Parliament and of the Council of 5 April 2006 amending Directive 2004/39/EC on markets in financial instruments, as regards certain deadlines, L114/60-L114/63; Official Journal of the European Union (2007), Directive 2007/44/EC of the European Parliament and of the Council of 5 September 2007 amending Council Directive 92/49/EEC and Directives 2002/83/EC, 2004/39/EC, 2005/68/EC and 2006/48/EC as regards procedural rules and evaluation criteria for the prudential assessment of acquisitions and increase of holdings in the financial sector, L247/1-L247/16; Official Journal of the European Union (2008), Directive 2008/10/EC of the European Parliament and of the Council of 11 March 2008 amending Directive 2004/39/EC on markets in financial instruments as regards the implementing powers conferred on the Commission, L76/33-L76/36; Official Journal of the European Union (2010), Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L331/120-L331/161; corrected by: Official Journal of the European Union (2005), Corrigendum to Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, L45/18; Official Journal of the European Union (2014), Corrigendum to Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L54/23; repealed by: Official Journal of the European Union (2014), Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast), L173/349-L173/496.Official Journal of the European Union (2004e). Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC, L390/38-L390/57, amended by: Official Journal of the European Union (2008), Directive 2008/22/EC of the European Parliament and of the Council of 11 March 2008 amending Directive 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, as regards the implementing powers conferred on the Commission, L76/50-L76/53; Official Journal of the European Union (2010), Directive 2010/73/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 2003/71/EC on the prospectus to be published when securities are offered to the public or admitted to trading and 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, L327/1-L327/12; Official Journal of the European Union (2010), Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC., 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L331/120-L331/161; Official Journal of the European Union (2013), Directive 2013/50/EU of the European Parliament and of the Council of 22 October 2013 amending Directive 2004/109/EC of the European Parliament and of the Council on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, Directive 2003/71/EC of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading and Commission Directive 2007/14/EC laying down detailed rules for the implementation of certain provisions of Directive 2004/109/EC, L294/13-L294/27.Official Journal of the European Union (2005a). Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees, L79/9-L79/17.Official Journal of the European Union (2005b). Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, L309/15-L309/36, amended by: Official Journal of the European Union (2007), Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC, L319/1-L319/36; Official Journal of the European Union (2008), Directive 2008/20/EC of the European Parliament and of the Council of 11 March 2008 amending Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, as regards the implementing powers conferred on the Commission, L76/46-L76/47; Official Journal of the European Union (2009), Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directive 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC, L267/7-L267/17; Official Journal of the European Union (2010), Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L331/120-L331/161; repealed by: Official Journal of the European Union (2015), Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC, L141/73-L141/117.Official Journal of the European Union (2006a). Commission Directive 2006/73/EC of 10 August 2006 implementing Directive 2004/39/EC of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive, L241/26-L241/58.Official Journal of the European Union (2006b). Commission Regulation (EC) No 1287/2006 of 10 August 2006 implementing Directive 2004/39/EC of the European Parliament and of the Council as regards record-keeping obligations for investment firms, transaction reporting, market transparency, admission of financial instruments to trading, and defined terms for the purposes of that Directive, L241/1-L241/25.Official Journal of the European Union (2006c). Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast), L177/1-L177/200, amended by: Official Journal of the European Union (2007), Commission Directive 2007/18/EC of 27 March 2007 amending Directive 2006/48/EC of the European Parliament and of the Council as regards the exclusion or inclusion of certain instructions from its scope of application and the treatment of exposures to multilateral development banks, L87/9-L87/10; Official Journal of the European Union (2007), Directive 2007/44/EC of the European Parliament and of the Council of 5 September 2007 amending Council Directive 92/49/EEC and Directives 2002/83/EC, 2004/39/EC, 2005/68/EC and 2006/48/EC as regards procedural rules and evaluation criteria for the prudential assessment of acquisitions and increase in holdings in the financial sector, L247/1-L247/16; Official Journal of the European Union (2007), Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC, L319/1-L319/36; Official Journal of the European Union (2008), Directive 2008/24/EC of the European Parliament and of the Council of 11 March 2008 amending Directive 2006/48/EC relating to the taking up and pursuit of the business of credit institutions, as regards the implementing powers conferred on the Commission, L81/38-L81/39; Official Journal of the European Union (2009), Commission Directive 2009/83/EC of 27 July 2009 amending certain Annexes to Directive 2006/48/EC of the European Parliament and of the Council as regards technical provisions concerning risk management, L196/14-L196/21; Official Journal of the European Union (2009), Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directive 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC, L267/7-L267/17; Official Journal of the European Union (2009), Directive 2009/111/EC of the European Parliament and of the Council of 16 September 2009 amending Directives 2006/48/EC, 2006/49/EC and 2007/64/EC as regards banks affiliated to central institutions, certain own funds items, large exposures, supervisory arrangements, and crisis management, L302/97-L302/119; Official Journal of the European Union (2010), Commission Directive 2010/16/EU of 9 March 2010 amending Directive 2006/48/EC of the European Parliament and of the Council as regards the exclusion of a certain institution from the scope of application, L60/15-L60/16; Official Journal of the European Union (2010), Directive 2010/76/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 2006/48/EC and 2006/49/EC as regards capital requirements for the trading book and for re-securitisations, and the supervisory review of remuneration policies, L329/3-L329/35; Official Journal of the European Union (2010), Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L331/120-L331/161; Official Journal of the European Union (2011), Directive 2011/89/EU of the European Parliament and of the Council of 16 November 2011 amending Directives 98/78/EC, 2002/87/EC, 2006/48/EC and 2009/138/EC as regards the supplementary supervision of financial entities in a financial conglomerate, L326/113-L326/141; Official Journal of the European Union (2012), Treaty between the Kingdom of Belgium, the Republic of Bulgaria, the Czech Republic, the Kingdom of Denmark, the Federal Republic of Germany, the Republic of Estonia, Ireland, the Hellenic Republic, the Kingdom of Spain, the French Republic, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Grand Duchy of Luxembourg, the Republic of Hungary, the Republic of Malta, the Kingdom of the Netherlands, the Republic of Austria, the Republic of Poland, the Portuguese Republic, Romania, the Republic of Slovenia, the Slovak Republic, the Republic of Finland, the Kingdom of Sweden, the United Kingdom of Great Britain and Northern Ireland (Member States of the European Union) and the Republic of Croatia concerning the accession of the Republic of Croatia to the European Union, L112/10-L112/110; corrected by: Official Journal of the European Union (2011), Corrigendum to Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L170/43; repealed by: Official Journal of the European Union (2013), Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC, L176/338-L176/436.Official Journal of the European Union (2006d). Directive 2006/49/EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions (recast), L177/201-L177/255, amended by: Official Journal of the European Union (2008), Directive 2008/23/EC of the European Parliament and of the Council of 11 March 2008 amending Directive 2006/49/EC on the capital adequacy of investment firms and credit institutions, as regards the implementing powers conferred on the Commission, L76/54-L76/55; Official Journal of the European Union (2009), Commission Directive 2009/27/EC of 7 April 2009 amending certain Annexes to Directive 2006/49/EC of the European Parliament and of the Council as regards technical provisions concerning risk management, L94/97-L94/99; Official Journal of the European Union (2009), Directive 2009/111/EC of the European Parliament and of the Council of 16 September 2009 amending Directives 2006/48/EC, 2006/49/EC and 2007/64/EC as regards banks affiliated to central institutions, certain own funds items, large exposures, supervisory arrangements, and crisis management, L302/97-L302/119; Official Journal of the European Union (2010), Directive 2010/76/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 2006/48/EC and 2006/49/EC as regards capital requirements for the trading book and for re-securitisations, and the supervisory review of remuneration policies, L329/3-L329/35; Official Journal of the European Union (2010), Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L331/120-L331/161; repealed by: Official Journal of the European Union (2013), Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC, L176/338-L176/436.Official Journal of the European Union (2006e). Regulation (EC) No 1786/2006 of the European Parliament and of the Council of 15 November 2006 on information on the payer accompanying transfers of funds, L345/1-L345/9, corrected by: Official Journal of the European Union (2007), Corrigendum to Regulation (EC) No 1786/2006 of the European Parliament and of the Council of 15 November 2006 on information on the payer accompanying transfers of funds, L323/59.Official Journal of the European Union (2007a). Commission Directive 2007/14/EC of 8 March 2007 laying down detailed rules for the implementation of certain provisions of Directive 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, L69/27-L69/36, amended by: Official Journal of the European Union (2013), Directive 2013/50/EU of the European Parliament and of the Council of 22 October 2013 amending Directive 2004/109/EC of the European Parliament and of the Council on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, Directive 2003/71/EC of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading and Commission Directive 2007/14/EC laying down detailed rules for the implementation of certain provisions of Directive 2004/109/EC, L294/13-L294/27.Official Journal of the European Union (2007b). Directive 2007/36/EU of the European Parliament and of the Council of 11 July 2007 on the exercise of certain rights of shareholders in listed companies, L184/17-L184/24, amended by: Official Journal of the European Union (2014), Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council, L173/190-L173/348.Official Journal of the European Union (2007c). Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC, L319/1-L319/36, amended by: Official Journal of the European Union (2009), Directive 2009/111/EC of the European Parliament and of the Council of 16 September 2009 amending Directives 2006/48/EC, 2006/49/EC and 2007/64/EC as regards banks affiliated to central institutions, certain own funds items, large exposures, supervisory arrangements, and crisis management, L302/97-L302/119; corrected by: Official Journal of the European Union (2009), Corrigendum to Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC, L187/5; repealed by: Official Journal of the European Union (2015), Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC, L337/35-L337/127.Official Journal of the European Union (2009a). Commission Decision 2009/77/EC of 23 January 2009 establishing the Committee of European Securities Regulators, L25/18-L25/22; repealed by: Official Journal of the European Union (2010), Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority) amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC, L331/84-L331/119.Official Journal of the European Union (2009b). Commission Decision 2009/78/EC of 23 January 2009 establishing the Committee of European Banking Supervisors, L25/23-L25/27; repealed by: Official Journal of the European Union (2010), Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC, L331/12-L331/47.Official Journal of the European Union (2009c). Commission Decision 2009/79/EC of 23 January 2009 establishing the Committee of European Insurance and Occupational Pensions Supervisors, L25/28-L25/32; repealed by: Official Journal of the European Union (2010), Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC, L331/48-L331/83.Official Journal of the European Union (2009d). Directive 2009/14/EC of the European Parliament and of the Council of 11 March 2009 amending Directive 94/19/EC on deposit-guarantee schemes as regards the coverage level and the payout delay, L68/3-L68/7; repealed by: Official Journal of the European Union (2014), Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (recast), L173/149-L173/178.Official Journal of the European Union (2009e). Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (recast), L302/32-L302/96, amended by: Official Journal of the European Union (2010), Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC., 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L331/120-L331/161; Official Journal of the European Union (2011), Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010, L174/1-L174/73; Official Journal of the European Union (2013), Directive 2013/14/EU of the European Parliament and of the Council of 21 May 2013 amending Directive 2003/41/EC on the activities and supervision of institutions for occupational retirement provision, Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) and Directive 2011/61/EU on Alternative Investment Funds Managers in respect of over-reliance on credit ratings, L145/1-L145/3; Official Journal of the European Union (2014), Directive 2014/91/EU of the European Parliament and of the Council of 23 July 2014 amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards depositary functions, remuneration policies and sanctions, L257/186-L257/213.Official Journal of the European Union (2009f). Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC, L267/7-L267/17.Official Journal of the European Union (2009g). Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (recast), L335/1-L335/155, amended by: Official Journal of the European Union (2011), Directive 2011/89/EU of the European Parliament and of the Council of 16 November 2011 amending Directives 98/78/EC, 2002/87/EC, 2006/48/EC and 2009/138/EC as regards the supplementary supervision of financial entities in a financial conglomerate, L326/113-L326/141; Official Journal of the European Union (2012), Directive 2012/23/EU of the European Parliament and of the Council of 12 September 2012 amending Directive 2009/138/EC (Solvency II) as regards the date for its transposition and the date of its application, and the date of repeal of certain Directives, L249/1-L249/2; Official Journal of the European Union (2013), Council Directive 2013/23/EU of 13 May 2013 adapting certain directives in the field of financial services, by reason of the accession of the Republic of Croatia, L158/362-L158/364; Official Journal of the European Union (2013), Directive 2013/58/EU of the European Parliament and of the Council of 11 December 2013 amending Directive 2009/138/EC (Solvency II) as regards the date for its transposition and the date of its application, and the date of repeal of certain Directives (Solvency I), L341/1-L341/3; Official Journal of the European Union (2014), Directive 2014/51/EU of the European Parliament and of the Council of 16 April 2014 amending Directives 2003/71/EC and 2009/138/EC and Regulations (EC) No 1060/2009, (EU) No 1094/2010 and (EU) No 1095/2010 in respect of the powers of the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L153/1-L153/61; corrected by: Official Journal of the European Union (2014), Corrigendum to Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II), L219/66.Official Journal of the European Union (2009h). Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies, L302/1-L302/31, amended by: Official Journal of the European Union (2011), Regulation (EU) No 513/2011 of the European Parliament and of the Council of 11 May 2011 amending Regulation (EC) No 1060/2009 on credit rating agencies, L145/30-L145/56; Official Journal of the European Union (2011), Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010, L174/1-L174/73; Official Journal of the European Union (2013), Regulation (EU) No 462/2013 of the European Parliament and of the Council of 21 May 2013 amending Regulation (EC) No 1060/2009 on credit rating agencies, L146/1-L146/33; Official Journal of the European Union (2014), Directive 2014/51/EU of the European Parliament and of the Council of 16 April 2014 amending Directives 2003/71/EC and 2009/138/EC and Regulations (EC) No 1060/2009, (EU) No 1094/2010 and (EU) No 1095/2010 in respect of the powers of the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L153/1-L153/61.Official Journal of the European Union (2010a). Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board, L331/1-L331/11.Official Journal of the European Union (2010b). Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC, L331/12-L331/47, amended by: Official Journal of the European Union (2013), Regulation (EU) No 1022/2013 of the European Parliament and of the Council of 22 October 2013 amending Regulation (EU) No 1093/2010 establishing a European Supervisory Authority (European Banking Authority) as regards the conferral of specific tasks on the European Central Bank pursuant to Council Regulation (EU) No 1024/2013, L287/5-L287/14; Official Journal of the European Union (2014), Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010, L60/34-L60/85; Official Journal of the European Union (2014), Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council, L173/190-L173/348; Official Journal of the European Union (2014), Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010, L225/1-L225/90.Official Journal of the European Union (2010c). Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC, L331/48-L331/83; amended by: Official Journal of the European Union (2014), Directive 2014/51/EU of the European Parliament and of the Council of 16 April 2014 amending Directives 2003/71/EC and 2009/138/EC and Regulations (EC) No 1060/2009, (EU) No 1094/2010 and (EU) No 1095/2010 in respect of the powers of the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L153/1-L153/61.Official Journal of the European Union (2010d). Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority) amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC, L331/84-L331/119, amended by: Official Journal of the European Union (2011), Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010, L174/1-L174/73; Official Journal of the European Union (2014), Directive 2014/51/EU of the European Parliament and of the Council of 16 April 2014 amending Directives 2003/71/EC and 2009/138/EC and Regulations (EC) No 1060/2009, (EU) No 1094/2010 and (EU) No 1095/2010 in respect of the powers of the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), L153/1-L153/61.Official Journal of the European Union (2010e). Council Regulation (EU) No 1096/2010 of 17 November 2010 conferring specific tasks upon the European Central Bank concerning the functioning of the European Systemic Risk Board, L331/162-L331/164.Official Journal of the European Union (2011a). Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010, L174/1-L174/73; amended by: Official Journal of the European Union (2013), Directive 2013/14/EU of the European Parliament and of the Council of 21 May 2013 amending Directive 2003/41/EC on the activities and supervision of institutions for occupational retirement provision, Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) and Directive 2011/61/EU on Alternative Investment Funds Managers in respect of over-reliance on credit ratings, L145/1-L145/3; Official Journal of the European Union (2014), Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast), L173/349-L173/496.Official Journal of the European Union (2011b). Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers, L55/13-L55/18.Official Journal of the European Union (2012a). Act concerning the conditions of accession of the Republic of Croatia and the adjustments to the Treaty on European Union, the Treaty on the Functioning of the European Union and the Treaty Establishing the European Atomic Energy Community, L112/21-L112/91.Official Journal of the European Union (2012b). Charter of Fundamental Rights of the European Union, C326/391-C326/407.Official Journal of the European Union (2012c). Commission Delegated Regulation (EU) No 486/2012 of 20 March 2012 amending Regulation (EC) No 809/2004 as regards the format and the content of the prospectus, the base prospectus, the summary and the final terms and as regards the disclosure requirements, L150/1-L150/65.Official Journal of the European Union (2012d). Commission Delegated Regulation (EU) No 918/2012 of 5 July 2012 supplementing Regulation (EU) No 236/2012 of the European Parliament and the Council on short selling and certain aspects of credit default swaps with regard to definitions, the calculation of net short positions, covered sovereign credit default swaps, notification thresholds, liquidity thresholds for suspending restrictions, significant falls in the value of financial instruments and adverse events, L274/1-L274/15, amended by: Official Journal of the European Union (2015), Commission Delegated Regulation (EU) 2015/97 of 17 October 2014 correcting Delegated Regulation (EU) No 918/2012 as regards the notification of significant net short positions in sovereign debt, L16/22.Official Journal of the European Union (2012e). Commission Implementing Regulation (EU) No 827/2012 of 29 June 2012 laying down implementing technical standards with regard to the means for public disclosure of net position in shares, the format of the information to be provided to the European Securities and Markets Authority in relation to net short positions, the types of agreements, arrangements and measures to adequately ensure that shares or sovereign debt instruments are available for settlement and the dates and period for the determination of the principal venue for a share according to Regulation (EU) No 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps, L251/11-L251/18.Official Journal of the European Union (2012f). Consolidated version of the Treaty on European Union, C326/13-C326/45.Official Journal of the European Union (2012g). Consolidated version of the Treaty on the Functioning of the European Union, C326/47-C326/199.Official Journal of the European Union (2012h). Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps, L86/1-L86/24, amended by: Official Journal of the European Union (2014), Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012, L257/1-L257/72.Official Journal of the European Union (2012i). Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories, L201/1-L201/59, amended by: Official Journal of the European Union (2013), Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, L176/1-L176/337; Official Journal of the European Union (2013), Commission Delegated Regulation (EU) No 1002/2013 of 12 July 2013 amending Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to the list of exempted entitites, L279/2-L279/3; Official Journal of the European Union (2014), Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council, L173/190-L173/348; Official Journal of the European Union (2015), Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of financial resources for the purpose of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC, L141/73-L141/117; Official Journal of the European Union (2015), Commission Delegated Regulation (EU) 2015/1515 of 5 June 2015 amending Regulation (EU) No 648/2012 of the European Parliament and of the Council as regards the extension of the transitional periods related to pension scheme arrangements, L239/63-L239/64; Official Journal of the European Union (2015), Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of reuse and amending Regulation (EU) No 648/2012, L337/1-L337/34.Official Journal of the European Union (2013a). Commission Delegated Regulation (EU) No 149/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on indirect clearing arrangements, the clearing obligation, the public register, access to a trading venue, non-financial counterparties, and risk mitigation techniques for OTC derivatives contracts not cleared by a CCP, L52/11-L52/24.Official Journal of the European Union (2013b). Commission Delegated Regulation (EU) No 153/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on requirements for central counterparties, L52/41-L52/74.Official Journal of the European Union (2013c). Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions, L287/63-L287/69.Official Journal of the European Union (2013d). Directive 2013/14/EU of the European Parliament and of the Council of 21 May 2013 amending Directive 2003/41/EC on the activities and supervision of institutions for occupational retirement provision, Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) and Directive 2011/61/EU on Alternative Investment Funds Managers in respect of over-reliance on credit ratings, L145/1-L145/3.Official Journal of the European Union (2013e). Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC, L182/19-L182/76, amended by: Official Journal of the European Union (2014), Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups, L330/1-L330/9; Official Journal of the European Union (2014), Council Directive 2014/102/EU of 7 November 2014 adapting Directive 2013/34/EU of the European Parliament and of the Council on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, by reason of the accession of the Republic of Croatia, L334/86-L334/87.Official Journal of the European Union (2013f). Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC, L176/338-L176/436, amended by: Official Journal of the European Union (2014), Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010, L60/34-L60/85; Official Journal of the European Union (2014), Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council, L173/190-L173/348; corrected by: Official Journal of the European Union (2013), Corrigendum to Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC, L208/73.Official Journal of the European Union (2013g). Directive 2013/50/EU of the European Parliament and of the Council of 22 October 2013 amending Directive 2004/109/EC of the European Parliament and of the Council on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, Directive 2003/71/EC of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading and Commission Directive 2007/14/EC laying down detailed rules for the implementation of certain provisions of Directive 2004/109/EC, L294/13-L294/27.Official Journal of the European Union (2013h). Regulation (EU) No 345/2013 of the European Parliament and of the Council of 17 April 2013 on European venture capital funds, L115/1-L115/17.Official Journal of the European Union (2013i). Regulation (EU) No 346/2013 of the European Parliament and of the Council of 17 April 2013 on European social entrepreneurship funds, L115/18-L115/38.Official Journal of the European Union (2013j). Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, L176/1-L176/337, amended by: Official Journal of the European Union (2015), Commission Delegated Regulation (EU) 2015/62 of 10 October 2014 amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio, L11/37-L11/43; corrected by: Official Journal of the European Union (2013), Corrigendum to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, L208/68-L208/72; Official Journal of the European Union (2013), Corrigendum to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, L321/6-L321/342.Official Journal of the European Union (2013k). Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions, L287/63-L287/89.Official Journal of the European Union (2014a). Commission Delegated Regulation (EU) No 382/2014 of 7 March 2014 supplementing Directive 2003/71/EC of the European Parliament and of the Council with regard to regulatory technical standards for publication of supplements to the prospectus, L111/36-L111/39.Official Journal of the European Union (2014b). Commission Delegated Regulation (EU) No 524/2014 of 12 March 2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the information that competent authorities of home and host Member States supply to one another, L148/6-L148/14.Official Journal of the European Union (2014c). Commission Delegated Regulation (EU) No 530/2014 of 12 March 2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards further defining material exposures and thresholds for internal approaches to specific risk in the trading book, L148/50-L148/51.Official Journal of the European Union (2014d). Commission Implementing Regulation (EU) No 620/2014 of 4 June 2014 laying down implementing technical standards with regard to information exchange between competent authorities of home and host Member States, according to Directive 2013/36/EU of the European Parliament and of the Council, L172/1-L172/25.Official Journal of the European Union (2014e). Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (recast), L173/149-L173/178, corrected by: Official Journal of the European Union (2014), Corrigendum to Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes, L212/47; Official Journal of the European Union (2014), Corrigendum to Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes, L309/37.Official Journal of the European Union (2014f). Directive 2014/57/EU of the European Parliament and of the Council of 16 April 2014 on criminal sanctions for market abuse (market abuse directive), L173/179-L173/189.Official Journal of the European Union (2014g). Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council, L173/190-L173/348.Official Journal of the European Union (2014h). Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast), L173/349-L173/496, amended by: Official Journal of the European Union (2014), Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012, L257/1-L257/72.Official Journal of the European Union (2014i). Directive 2014/91/EU of the European Parliament and of the Council of 23 July 2014 amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards depositary functions, remuneration policies and sanctions, L257/186-L257/213.Official Journal of the European Union (2014j). Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC, L173/1-L173/61.Official Journal of the European Union (2014k). Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012, L173/84-L173/148, corrected by: Official Journal of the European Union (2015), Corrigendum to Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012, L270/4.Official Journal of the European Union (2014l). Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012, L257/1-L257/72.Official Journal of the European Union (2014m). Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs), L352/1-L352/23, corrected by: Corrigendum to Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs), L358/50.Official Journal of the European Union (2015a). Commission Delegated Regulation (EU) 2015/61 of 17 December 2014 supplementing Directive 2004/109/EC of the European Parliament and of the Council with regard to certain regulatory technical standards on major holdings, L120/2-L120/5.Official Journal of the European Union (2015b). Commission Delegated Regulation (EU) 2015/2205 of 6 August 2015 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on the clearing obligation, L314/13-L314/21.Official Journal of the European Union (2015c). Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC, L141/73-L141/117.Official Journal of the European Union (2015d). Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC, L337/35-L337/127.Official Journal of the European Union (2015e). Regulation (EU) 2015/751 of the European Parliament and of the Council of 29 April 2015 on interchange fees for card-based transactions, L123/1-L123/15.Official Journal of the European Union (2015f). Regulation (EU) 2015/760 of the European Parliament and of the Council of 29 April 2015 on European long-term investment funds, L123/98-L123/121.Official Journal of the European Union (2015g). Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of reuse and amending Regulation (EU) No 648/2012, L337/1-L337/34.
Organisation for Economic Co-operation and Development (2015a). Convention on Mutual Administrative Assistance in Tax Matters.
Organisation for Economic Co-operation and Development (2015b). Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviews. http://www.oecd-ilibrary.org/taxation/global-forum-on-transparency-and-exchange-of-information-for-tax-purposes-peer-reviews_2219469x.
Parris, M. (2016). Brexit would mean we don’t give a damn, The Times, 20/02/16, 71838, 23.
Standard and Poor’s Rating Services (2016). Standard & Poor’s Ratings Definitions. https://www.standardandpoors.com/en_US/web/guest/article/-/view/sourceId/504352.
Stern, H. G., & Feldman, R. J. (2009). Too Big to Fail: The Hazards of Bank Bailouts (paperback edition). Washington D.C.: Brookings Institution Press.
Thatcher, M. (1988). Speech to the College of Europe (“The Bruges Speech”), Bruges, 20/09/88. http://www.margaretthatcher.org/document/107332.
The Evaluation Partnership Limited (2006). Framework contract No RTD-JRC/00-06: Evaluation of the E-money Directive (2006/46/EC) – Final Report, Twickenham, 17/02/06. http://ec.europa.eu/internal_market/payments/docs/emoney/evaluation_en.pdf.
The Giovannini Group (2001). Cross-Border Clearing and Settlement Arrangements in the European Union, Brussels, April 2001. http://www.ebf-fbe.eu/uploads/First%20
Giovannini%20Report%20on%20Clearing%20&%20Settlement%20in%20the%20EU%20%282001%29.pdf.
The Giovannini Group (2003). The Giovannini Group: Second Report on EU Clearing and Settlement Arrangements, Brussels, April 2003. http://ec.europa.eu/internal_market/ financial-markets/docs/clearing/second_giovannini_report_en.pdf.
Tietmeyer, H. (1999). International Cooperation and Coordination in the Area of Financial Market Supervision and Surveillance, Report by Hans Tietmeyer, President of the Deutsche Bundesbank, 11/02/99. http://www.financialstabilityboard.org/wp-content/uploads/r_9902.pdf.
Valiante, D. (2015). Light and shadows in Europe’s new Action Plan for Capital Markets Union. ECMI Commentary, No.40/5 October 2015, 1-4.
World Bank (2009). Development Committee: Enhancing Voice and Participation of Developing and Transition Countries in the World Bank Group: Update and Proposals for Discussion, DC2009-0011, 29/09/09. http://siteresources.worldbankorg/DEV
COMMINT/Documentation/22335196/DC2009-0011(E)Voice.pdf.

Audience: Financial and European Union law academics, students and practitioners.
Regulatory and compliance staff in financial institutions.
University and college libraries.
Policy-makers concerned with issues of financial and/or European Union law.
Wider, educated readership, both inside and outside the European Union.

You have not viewed any product yet.