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Table of contents
1. Introduction
2. In theory: regulatory patterns in the European Union
2.1 Regulation by networks in the European Community– the origins
2.2 Regulation by information – a functionalist logic
3. Financial services regulation in Europe – an institutional analysis
3.1 Four-level approach of financial services regulation
3.2 Regulation with ‘teeth’ – the creation of supervisory authorities
3.3 The consequences of enhanced powers
4. Process tracing: the power of belief systems
4.1 Advocacy Coalition Framework – the basic principles
4.2 Advocacy coalitions in financial services regulation
4.3 A qualitative leap?
5. Conclusion
6. References
How has financial regulation in Europe changed since 1999?
Regulation has evolved from a network-based approach with auxiliary agencies to a more centralized system of supervisory authorities with direct legal powers, especially following the 2007 financial crisis.
What are the three new European financial supervisory authorities?
Created to strengthen the framework, they are tasked with overseeing banking (EBA), securities and markets (ESMA), and occupational pensions and insurance (EIOPA).
Why did member states give up regulatory power to the EU?
Governments sought to increase the credibility and objectivity of information. Deepening economic integration and the need for a unified response to international competition made transnational regulation more efficient.
What is the 'Advocacy Coalition Framework' in this context?
It is a theoretical model used to explain policy change by analyzing groups of actors (coalitions) who share belief systems and compete to influence the institutional architecture of financial regulation.
Is there a 'qualitative leap' in the new supervisory framework?
The paper examines whether the shift from advisory agencies to authorities with legal powers represents a fundamental change in governance or merely an incremental expansion of existing structures.
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- Katja Philipps (Autor:in), 2012, Financial services regulation in Europe, München, Page::Imprint:: GRINVerlagOHG, https://www.diplomarbeiten24.de/document/233352
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