Financial Regulation and Supervision in EU Countries

64 Pages Posted: 6 May 2003

See all articles by Enrico Maria Cervellati

Enrico Maria Cervellati

Department of Management - Ca' Foscari University of Venice

Abstract

This work provides an analysis of the different systems of financial regulation and supervision in EU Countries. In particular it analyses the cases of France, Germany, Italy, Spain and the United Kingdom on the regulation and supervision of the banking sectors, but also with reference to insurance companies and the securities market. Furthermore, it studies the relationships, in terms of ownership and control, between banks and non-financial institutions. In particular several information are given with regard to the banks ownership in non-financial firms, and vice-versa, both at the EU level and within the member States. The research work done has therefore been based on information found through the publications and the websites of the principal supervisory authorities in the European Member States under consideration. This second part of the paper is divided in two main parts. The first one describes the rules governing banks investment in non-financial firms at the EU and member States level. The second part, instead, analyses, again from a European and national point of view non-financial firms investment in banks. I decided to include not all European member States, but only France, Germany, Italy and Spain. The Second Banking Coordination Directive has harmonised in several respects the regulations of the single member States; however some differences still persist, mainly deriving from the fact that EU member States have to comply with European Directives, but they can impose more stringent regulation, if this is not in contrast with European Directives. The differences in the regulatory systems concern both the investment of banks in non-financial firms and of non-financial firms in banks.

JEL Classification: G21, G28

Suggested Citation

Cervellati, Enrico Maria, Financial Regulation and Supervision in EU Countries. Available at SSRN: https://ssrn.com/abstract=391998 or http://dx.doi.org/10.2139/ssrn.391998

Enrico Maria Cervellati (Contact Author)

Department of Management - Ca' Foscari University of Venice

Fondamenta San Giobbe 873 Cannaregio
Venice, Venice 30121
Italy

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