Regulating Finance in Europe

Policy Effects and Political Accountability

Edited by Adrienne Héritier, Emeritus Professor of Social and Political Sciences, European University Institute, Italy and Johannes Karremans, Postdoctoral Researcher, Department of Political Science, University of Salzburg, Austria

This timely book presents an in-depth investigation of who benefits from European financial market regulatory measures and how decision-makers and stakeholders are held politically and administratively accountable. The extensive study illustrates the full range of the actors involved in key regulatory processes such as the regulation of high-frequency trading and the activities of central-clearing counterparties.

这本书将是巨大的interest to scholars examining European financial sector governance from legal, sociological, and political science perspectives. The authors have crafted a lucid, insightful, and convincing analysis of procedural and substantive accountability channels and mechanisms in European financial sector governance. They further shed light on who controls decision-making and whether sufficiently robust accountability channels and mechanisms have been put in place in key areas of European securities regulation, such as the governance of high-frequency trading (HFT), central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR), the Markets in Financial Instruments Directive (MiFID) II, over the counter (OTC) derivatives, and Fintech.’
– Aneta Spendzharova, Maastricht University, the Netherlands

‘This book is a remarkable exploration of present-day European financial markets. It addresses crucial questions about how regulators, policymakers and financial organizations are held accountable through various “accountability mechanisms”. Adrienne Héritier, Johannes Karremans and colleagues insightfully open the black box of European financial markets to reveal their activities and regulatory dynamics to the wider public. This book is an important work for everyone who is interested in the democratic governance of modern-day finance and its algorithmic/quantitative complexities.’
– Andrea Lagna, Loughborough University, UK