Financial Regulation in the EU : From Resilience to Growth

Financial Regulation in the EU : From Resilience to Growth

From the Back Cover

Financial regulation has dramatically evolved and strengthened since the crisis on both sides of the Atlantic, with enhanced international coordination through the G-20 and the Financial Stability Board and, at the regional level, a definite contribution from the European Union. However the new regulatory environment has its critics, with many divergent voices arguing that over-regulation has become a root cause of our current economic stagnation.

This book provides a bigger picture view of the impact and future of financial regulation in the EU, exploring the relationship between microeconomic incentives and macroeconomic growth, regulation and financial integration, and the changes required in economic policy to further European integration. Bringing together contributions from law, economics and management science, it offers readers an accessible but rigorous understanding of the current state of play of the regulatory environment, and on the future challenges.

Coverage will include:

• a review of the recent regulatory changes from a legal and economic perspective

• analysis of how the economic model of financial institutions and entities is impacted by the new frameworks

• how to improve securitization and new instruments under MIFID II

• issues in the enhanced supervision under delegated acts for AIFMD, CRR-CRD IV and Solvency II

• how long term funding can be supplied in lieu of the non-conventional monetary policies

• a new architecture for a safer and more efficient European financial system

Financial Regulation in the EU provides much needed clarity on the impact of new financial regulation and the future of the economy, and will prove a must have reference for all those working in, researching and affected by these changes.

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About Professor Raphael Douady

Mathematician and economist, specialised in quantitative finance and chaos theory. With more than fifteen years experience in the banking industry (risk management, option models, trading strategies) and thirty years research in pure and applied mathematics, I have developed highly sophisticated quantitative solutions and statistical analysis. A former fellow of Ecole Normale Supérieure in Paris, I earned my Ph.D. in 1982 in Hamiltonian dynamics and became strongly involved in Finance in 1993.

Currently affiliated with University of Paris 1-Sorbonne Economic Center (CES) and the French National Center for Scientific Research (CNRS), I have also been appointed International Associate Professor at New York University Polytechnic Institute. I have lead and organized numerous academic, as well as practitioner conferences around the world, including the New York University seminar of Mathematical Finance and Paris Europlace conferences. My most recent research topics are Hedge Funds risks, for which I have developed especially suited powerful nonlinear statistical models, and systemic risk.


I am one of the founders and the research director of Riskdata, a market-leading provider of risk management tools for investors, asset managers, hedge funds, fund of funds, and pension funds. I have been appointed as academic director of a French “Laboratory of Excellence” devoted to financial regulation (LabEx ReFi). I am also a member of the Praxis Club, a New York based think tank advising the French government on its economic policy and other related topics and on the “risk committee” of Finance Innovation, a French official entity supporting innovation in financial software.