Description
Book SynopsisCompetition law is a complex and constantly evolving area of law which affects every aspect of the market economy, including the financial services sector. This book is a comprehensive and practical guide to the application of the EU competition rules to banking and insurance industries.
This book is divided into two parts: the first part explores the application of Articles 101, 102 and 107 TFEU to the insurance industry. Emphasis is placed on recent changes which have progressively eroded the block exemption regime that traditionally benefited the insurance industry.
In the second part of the book, focus is on the application of the Articles of TFEU to the banking industry, with specific reference to card payment systems, which give rise to some of the most intricate antitrust issues in the financial services sector. Relevant Commission decisions and European Court of Justice case law are discussed and suggestions are made for an alternative regulatory framework throug
Trade Review
"Dr Andrea Lista has provided a detailed, well-structured and thought provoking analysis of very topical issues in relation to the enforcement of competition law in the financial services sector. This sector has been at the forefront of the debate in the last few years, especially as a result of the recent financial crisis... Dr Lista's contribution to this debate is very welcome as it provides a coherent assessment of the particularities of the financial sector and of the way that competition policy should be applied in this sector."
- Professor Ioannis Kokkoris, Chair in Law and Economics, School of Law, University of Reading, UK
"Professor Lista contributed a very well-structured and thought provoking book on the thorny issues arising from the enforcement of competition law in the financial services industry. Such a book is likely to become an exceptional point of reference for students, researchers and practitioners of competition law in the field of banking and insurance markets. In few words, it represents a valuable contribution to shed light on the steps to be built in the financial sector for a robust stairway to competition heaven."
- Dr Valerio Torti
Professor Ioannis Kokkoris, Chair in Law and Economics, School of Law, University of Reading
"Dr Andrea Lista has provided a detailed, well-structured and thought provoking analysis of very topical issues in relation to the enforcement of competition law in the financial services sector. This sector has been at the forefront of the debate in the last few years, especially as a result of the recent financial crisis... Dr Lista's contribution to this debate is very welcome as it provides a coherent assessment of the particularities of the financial sector and of the way that competition policy should be applied in this sector."
Table of Contents1. The Meaning of EU Competition Law 2. The Application of EU Competition Law to the Financial Services Sector: General Issues 3. Setting the Scene: the application of Art. 101 to the Insurance Sector 4. The Recent Past Scenario: Regulation 358/2003 5. Regulation 267/2010: the Current Regulatory Framework for Horizontal Agreements in the Insurance Sector 6. The Way Forward: A future without the EU Insurance Block Exemption 7. Art. 102 TFEU and Mergers and Acquisitions in the Insurance Sector 8. State Aid and the Insurance Sector 9. The Application of EU Competition Rules to the Banking Industry: General Isssues 10. Art. 101 TFEU and Price Competition Issues in the Banking Sector 11. Payment Card Systems and Competition Concerns: Multilateral Interchange Fees and No-discrimination Rules 12. Art. 101 and Non-Price Competition Issues in the Banking Sector 13. Art. 102 and Mergers and Acquisitions in the Banking Sector 14. Art. 102 and Clearing and Settlement Services in the Banking Sector 15. State Aid in the Banking Sector Appendices
