The first aim of this thesis is to tackle the deficiencies within the system of financial regulation. Furthermore, it aims to assess the submitted and even the already adopted proposals. The aims cannot be achieved without an analysis of the causes of the global financial crisis 2007-2009, because it helps to understand a range of deficiencies in the system of financial regulation. A global financial crisis of that magnitude cannot be traced to a single cause but was instead the result of multiple interconnected causes, which are examined at the macroeconomic as well as microeconomic level.

The aim of this work was to analyze complexly the failure of financial market entities, with the accent of a banking institution, comparison with the European legal system, but also with the emphasis on solving the financial crisis of the banking system and its ways of resolving or maintaining the activity, possible insolvency of banking entities. At the end of the thesis, the author also deals with practical aspects of selected banks. From the above point of view, three sub-concepts are key to this work, which deserve a brief explanation as they permeate the work and gradually reveal the basic issues of the subject matter, but also their hypotheses outlining the next direction of research, and at the same time offers some legislative guidance material solution of the given issue. The first term is the "starting point". In this work, there is a detailed survey of research to find answers to the question as to what are the basic points of the financial market entities as well as banking institutions, but above all their failure. The hypothesis in this context is the evolutionary development of the areas concerned, in particular financial law in a broad sense, and the extent of its impact on the current legal regulation of financial market participants and the resolution of their failures. The second...

The European financial market is rapidly changing with emerging fintechs targeting the banks’ traditional value chain, leveraging on their lower pace of innovation. The Payment Services Directive 2 (PSD2) is put into force in 2018 and aims to open up the financial market to new competitors, thus, promoting positive competition. This study examines how the managerial perception of changes in the external environment, caused by PSD2, affects banks’ preparatory work. The study uses a mix of Market Based View and Resource Based View along with an extension of RBV, illuminating how capabilities and managerial cognition affects managerial action. Using a qualitative approach through an interview based comparison between managers of two Swedish banks, the study confirms the theories’ stating that managerial cognition of the external environment, comprised of perceived opportunities and threats, affects managerial preparatory actions. Additionally, the study shows that managers’ perception of organisational capabilities affects managerial action.

Financial intermediation due to misselling harms consumers. The work concerns to regulation of financial intermediaries and relation between financial intermediary and his or her client. The main objective is to analyze how the regulatory of commissions impact financial intermediation. The paper analyzes the current form of legal status of financial intermediation in the European Union and the Czech Republic and results in analyzing the impacts of regulatory proposals that was discussed in Chamber of Deputies Parliament of the Czech Republic. It concludes that if the proposals were accepted, it will not improve the quality of consumer protection, but even can cause damage to the client. The current legislative base moreover provides sufficient resources to prosecuting financial intermediation, which does not respect the client's interest. For analyzing the relation between financial intermediary and his or her client is developed theoretical model based on theory of games.

This three part dissertation begins by "Examining the Origin of Federal Reserve Independence." This paper explores early Fed history with a particular emphasis on the period between 1947 and 1953 in order to provide a complete political account of Fed Independence. / Government

Insider dealing on the basis of inside information has been identified as an action against the principle of equal access to information for all those who need such information to make investment decisions. This thesis examines the regulation of insider dealing in financial markets. It analyses in particular the problem of the regulation of insider dealing in the United Arab Emirates (UAE), the shortcomings of this regulation and how it can be improved. The primary objective of the thesis is to offer reasonable recommendations for the reform of insider dealing in the UAE. There have been controversies regarding whether insider dealing should be regulated, the basis of such regulation and the form in which the law should intervene. This thesis has attempted to provide its own approach to the problem of insider dealing. This approach forwards the proposition that allowing insider dealing on the basis of inside information is against the principle of equal access to information and it is detrimental to market transparency. Based on this proposition, the thesis investigates the shortcomings of the current regulation of insider dealing in the UAE. Following this the applied study, which consists of a questionnaire and interviews conducted in the UAE, provides a clearer picture of the current regulation in the country. The study aims at measuring opinions and attitudes of investors and other experts towards the basis and effectiveness of the regulation of insider dealing in local markets in the UAE. This is followed by a legal comparative study. This is both a ‘macro-comparison’ and a ‘micro-comparison’ between the regulation of insider dealing in the jurisdictions of the US, the UK and the Dubai International Financial Centre (DIFC). The ‘macro-comparison’ draws conclusions from comparing the broader systems of regulation in the three jurisdictions. The ‘micro-comparison’ concentrates on a functional comparison between the specific rules related to insider dealing. The legal comparative study is combined with the information generated by the applied study. Together these provide solutions (represented as recommendations) for the reform of the UAE larger system of regulation, and amendments to the rules related to insider dealing.

Modes of the legal regulation of hedge funds This thesis focuses on hedge funds, their history, main strategies, role on the financial market and regulation. It compares approach to regulation of those entities in the US, European Union (and its certain member states) and in significant offshore jurisdictions. Its major focus is on the financial crisis from the year 2008 and its impacts on hedge funds. Its goal is to find whether the regulation of hedge funds can be beneficiary and what approach should the regulator take. It discusses the effects of the Dodd-Frank act, UCITS IV and AIFMD and compares those legislative documents. It consists of four chapters. In first chapter it tries to define the term hedge fund. Second chapter briefly explains history of hedge funds and historical approach to their regulation in the US. Third chapter discusses various strategies used by hedge funds and their outcomes. Legislative approach in various countries is being investigated in part four of this thesis. It compares regulation on hedge funds in the US, European Union, Great Britain, Ireland, Germany, Czech Republic and Singapore. It tries to predict what is going to happen with the hedge fund market after implementation of the EU Directive AIFM in the years 2013 to 2018 and it also tries to find the possible...

O presente estudo busca mapear expectativas e percepções de clientes de segmentos bancários de pessoas físicas de alta renda no Município de São Paulo, bem como eleger os aspectos de maior relevância na determinação de sua satisfação e lealdade. Foram coletados na literatura atributos pertinentes à prestação de serviços bancários, modelos e escalas de mensuração relacionados à Qualidade em Serviços, Imagem Corporativa, Satisfação e Lealdade do consumidor, a partir dos quais foi operacionalizada uma pesquisa quantitativa com clientes de distintos bancos atuantes no mercado de pessoas físicas de alta renda. Os resultados permitiram diagnosticar o alto de nível de expectativa dos clientes e a não homogeneidade de opinião em relação à qualidade do serviço prestado, tendo sido possível identificar os atributos de maior influência nos níveis de Satisfação e Lealdade cliente-banco. / The present study aims to both measure expectations and perceptions of individual bank clients with high earnings in the municipality of São Paulo and to rate the main interfeering aspects in determining their Satisfaction and loyalty. Drawing on the relevant literature on attributes to the provision of bank services as well as on models and scales regarding Service Quality, Coorporative Images, Consumer Satisfaction and Loyalty, a quantitative survey was conducted among the high income clients of bank services. The results showed that whereas clients? expectations were high, their perceptions regarding the quality of the services provided were not homogeneous. Additionally, it possible to identify the most influential attributes in consumer?s levels of Satisfaction with and Loyalty to their banks.

Este estudo analisa o efeito da informação e do capital social sobre o volume de negócios no mercado de crédito rural. Discute-se a conexão entre capital social e informação e como esta relação pode contribuir para a redução dos custos de transação da intermediação financeira, de modo a permitir aumento no volume de crédito rural. Para análise empírica, foi elaborado e testado um modelo econométrico (lógite) utilizando dados referentes ao Estado de São Paulo. Os dados foram obtidos de levantamentos estatísticos oficiais (censo agropecuário, LUPA e banco de dados do SEADE) referentes à safra 1995-1996. Os resultados indicam que o nível de capital social afeta o volume de crédito rural. Assim, incentivos, em especial com apoio do setor público, para formação e manutenção de capital social permitiriam aumento da eficiência da intermediação financeira e, em consequência, maior desenvolvimento do setor rural. / This study analyses the effect of information and social capital on the volume of contracts in the rural credit market. It discusses the connection between social capital and information and how this relation contributes to the reduction of financial intermediation’s transaction costs. A logit regression model was used to empirically test the effect of social capital on the volume of rural credit. The data, from the municipalities of the State of São Paulo, are from 1995 ~ 1996 official statistics (Farm Census, LUPA and SEADE’s data basis). The results indicate that the level of social capital affects the amount of rural credit. Thus, incentives to further increase and maintain social capital would increment the efficiency of financial intermediation and, as a consequence, help rural sector’s development.

A presente tese objetiva estudar o Credit Default Swap (CDS) e o Total Return Swap (TRS), que são os derivativos de crédito cuja negociação é permitida no país. Analisaremos a utilização destes instrumentos financeiros no sistema bancário, seus efeitos deletérios no mercado financeiro, o modo como são regulados no direito brasileiro, bem como as recentes alterações legislativas nos Estados Unidos e União Europeia pós crise de 2008. / This thesis aims at studying the Credit Default Swap (CDS) and the Total Return Swap (TRS), which are credit derivatives whose negotiation is permitted in the country. We will analyze the use of these financial instruments in the banking system, its deleterious effects on the financial market, the way they are regulated in Brazilian law, as well as the recent legislative changes in the United States and European Union after the 2008 crisis.