Comparing European and U.S. Securities Regulations: MiFID versus Corresponding U.S. Regulations

Tanja Boskovic, Caroline Cerruti, Michel Noel and Michel Noel

No 13527 in World Bank Publications - Books from The World Bank Group

Abstract: The purpose of this paper is to compare the European Union (EU) and United States (U.S.) securities regulations. In November 2007, the market in financial instruments directive 2004/39/EC (MiFID) came into force in the EU, and brought about deep changes in the market infrastructure. The same year regulations National Market System (NMS) in the U.S. was fully enacted and reformed equities markets. This study compares MiFID with the corresponding U.S. regulations, and primarily focuses on the regulatory and supervisory framework, trading venues, and the provision of investment services. Implementation of the rules enforcement and right to redress are beyond the scope of this paper. Likewise, the paper does not intend to judge the effectiveness of the two regulatory systems.

Keywords: Finance; and; Financial; Sector; Development-Debt; Markets; Finance; and; Financial; Sector; Development-Mutual; Funds; Finance; and; Financial; Sector; Development-Non; Bank; Financial; Institutions; Law; and; Development-Corporate; Law; Private; Sector; Development-Emerging; Markets (search for similar items in EconPapers)
Date: 2010
ISBN: 978-0-8213-8253-0
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Citations: View citations in EconPapers (3)

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