The Regulatory Framework for Market Discipline

Maria Grazia Starita and Irma Malafronte

Chapter 5 in Capital Requirements, Disclosure, and Supervision in the European Insurance Industry, 2014, pp 177-223 from Palgrave Macmillan

Abstract: Abstract This chapter provides a wide description of the regulatory framework for market discipline in the European insurance industry in light of the importance assumed by this theme under the framework for European insurers’ capital requirements (Solvency II). It enters into the debate that aims to identify the function of supervision in financial markets, the flows of mandatory information established, and the role of stakeholders in this process. Thus, it provides a deep analysis of market discipline in the European insurance industry and has six main goals: identifying the role and relevance of supervisory authorities in financial markets; describing the characteristics of supervision and market discipline in the European insurance industry under the regulatory framework of Solvency II (Directive 2009/138/EC); identifying the schemes, principles, and initiatives for supervision and market discipline; distinguishing disclosure into three types: disclosure by insurers (addressed both to supervisory authorities and to the public), disclosure by supervisory authorities, and disclosure by groups; comparing the European to the globally accepted principles of insurance regulation, in an attempt to promote consistency and homogeneity; identifying the internal and external stakeholders involved in the market discipline process and the roles they play.

Keywords: Regulatory Framework; Public Disclosure; Market Discipline; Supervisory Authority; European Banking Authority (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-39084-4_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137390844

DOI: 10.1057/9781137390844_5

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().