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Christos Hadjiemmanuil

A Heavily Regulated Industry The Varied Objectives of Financial Regulation

1 December 2015 (updated 1 month ago) // english

The Evolving Nature of Financial Regulation Until the early 1970s, the various national systems of banking regulation had largely monetary objectives. Controls on commercial banking activity (including administratively set interest rates, quantitative limits on credit expansion, and reserve requirements) were imposed for the purpose of preventing the over- or under-expansion of the money and bank credit supply. In addition, in many countries, including the UK and France, the state sought to direct the flow of available credit towards certain economic areas and activities, and away from others. Another policy concern related to the conditions of competition within the banking industry;… Read more

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Editorial for Issue 4/2015
by Christos Hadjiemmanuil

Editorial Guest Editorial eucrim 4/2015

1 December 2015 (updated 1 month ago) // english

Dear Readers, The imposition of tight regulatory controls on banks and other financial intermediaries is a universal characteristic of modern economic systems. The frequency and intensity of legislative and administrative measures affecting financial activities demonstrate the state’s incessant concern with the way in which the market operates in this field. However, the precise perimeter of the regulated sector varies from one jurisdiction to another and changes over time. The same is true of the form and direction of the regulatory interventions. This raises important questions about the existence or otherwise of common threads –common objectives and overarching justifications– holding together… Read more

Prof. Dr. Silvia Allegrezza / Olivier Voordeckers

Investigative and Sanctioning Powers of the ECB in the Framework of the Single Supervisory Mechanism Mapping the Complexity of a New Enforcement Model

1 December 2015 (updated 2 weeks, 6 days ago) // english

In most publications that deal with the Banking Union, the global financial crisis of 2008 is mentioned in the introductory paragraph. It is also the unavoidable starting point of this contribution, as it is the collapse of the banking sector that has shown the necessity to rethink the mechanism of banking supervision. Economic growth and financial stability have been seriously damaged by the global crisis that has plagued the world since 2007. The financial and banking crisis shed some light on the need for stronger and more efficient supervision but also on the need for a more effective system of… Read more

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Editorial for Issue 3/2015
by Guido Raimondi

Editorial Guest Editorial eucrim 3-2015

6 November 2015 // english

Dear Readers, The main concern of the European Court of Human Rights is of course to succeed in its mission to protect fundamental rights in Europe. Criminal law, substantive or procedural, is a domain where the need to protect society, whether at the level of the individual state or that of the organisation of European integration – at the quasi-federal level of the Union – must necessarily be confronted and associated with the need to protect fundamental rights. Such is the imperative arising from the irreversible choices made by European States in acceding to the European Convention on Human Rights… Read more

Andrea Tamietti

Le Principe de Légalité aux Termes de l’Article 7 de la Convention Européenne des Droits de l’Homme Un bref aperçu de Jurisprudence

1 September 2015 (updated 2 weeks, 6 days ago) // french

The decision by the European Court of Human Rights in Soros v. France centered on questions regarding the principle of legality in article 7 ECHR. More precisely, the interpretation of “insider trading” was challenged and whether or not it was possible to appraise whether the French national law had forbade this kind of acts at the respective time. As the principle of legality is a fundamental right in the EU Charter, this decision could significantly influence the principle’s interpretation in the European criminal law area.

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Oscar Alarcón Jiménez

Council of Europe Convention Against Trafficking of Human Organs

1 September 2015 (updated 2 weeks, 6 days ago) // english

The trafficking of human organs (THO) has gone from being an urban legend for many countries to becoming a dark reality that can end in a custodial sentence. Understood as an international problem that demands a response from governments, legislative institutions, and international organizations, it mainly emerges in the context of the inability of countries to cope with the transplantation needs of their patients. The shortage of organs, disparities accentuated by the economic crisis, the vast differences between health systems, and the voracity of unscrupulous traffickers have, in recent years, led to an increase in transplant tourism and the development… Read more