European Legislative Practice 2.0: Dynamic Harmonisation of Capital Markets Law — MiFID II and PRIIP

31 B.F.L.R. 141 – 176 (2015)

37 Pages Posted: 16 Feb 2016

See all articles by Thomas M.J. Möllers

Thomas M.J. Möllers

University of Augsburg - Faculty of Law

Date Written: November 2015

Abstract

European and national capital markets law is fast-paced and now being structured by Lamfalussy and de Larosière Processes to three relevant legal European levels and three relevant national levels. This double complexity is extended by four special features that result from the relationship between European and national laws: the problem of minimum and maximum harmonisation; national legislatures pressing ahead with passing laws; the relationship between directives and directly applicable regulations; and the influence of European law on non-harmonised areas of law. Based on recent legislation (MiFID II and PRIIP) these four theoretical legal questions are discussed in the context of three general principles of capital markets law: information requirements, dealing with conflicts of interest and questions concerning enforcement of the law.

JEL Classification: K20, K00

Suggested Citation

Möllers, Thomas M.J., European Legislative Practice 2.0: Dynamic Harmonisation of Capital Markets Law — MiFID II and PRIIP (November 2015). 31 B.F.L.R. 141 – 176 (2015), Available at SSRN: https://ssrn.com/abstract=2732522

Thomas M.J. Möllers (Contact Author)

University of Augsburg - Faculty of Law ( email )

Germany

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