European Legal Theory and Legislation in Capital Market Law
Journal of Interdisciplinary Economics, Vol. 20, pp. 133-151, 2010
32 Pages Posted: 16 Nov 2010 Last revised: 24 Nov 2010
Date Written: 2010
In response to several scandals in the securities market, the European legislator introduced the Lamfalussy Process which aimed at expediting the legislation procedure in the field and advance harmonization, mostly to remain "competitive" with the US market. This article discusses and evaluates the Lamfalussy Process. In the course, constitutional law issues and a number of legal theory problems are examined.
Keywords: EU Capital Markets Law, Lamfalussy Process, Markets in Financial Instruments Directive
JEL Classification: K22, K10
Suggested Citation: Suggested Citation