By Andrea Lista
Competition legislation is a fancy and always evolving zone of legislations which impacts each element of the industry financial system, together with the monetary providers area. This ebook is a accomplished and useful advisor to the appliance of the european pageant principles to banking and assurance industries.
This e-book is split into components: the 1st half explores the appliance of Articles a hundred and one, 102 and 107 TFEU to the coverage undefined. Emphasis is put on fresh adjustments that have gradually eroded the block exemption regime that commonly benefited the coverage industry.
In the second one a part of the publication, concentration is at the program of the Articles of TFEU to the banking undefined, with particular connection with card check platforms, which offer upward push to a couple of the main complex antitrust concerns within the monetary companies region. appropriate fee judgements and ecu court docket of Justice case legislation are mentioned and proposals are made for another regulatory framework via comparative research people laws.
This e-book could be a useful reference element for criminal practitioners specialising in european pageant legislation, in addition to postgraduate scholars and educational researchers operating in festival legislation and the monetary providers sector.
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Extra resources for EU Competition Law and the Financial Services Sector
Example text
Agreements restricting competition within the internal market can be exempted provided only that they fulfil the four cumulative conditions listed in Article 101(3): they must increase efficiency; consumers must receive a fair share of the resulting benefits; the restrictions must be indispensable to the attainment of these objectives; and, finally, such agreements must not allow the elimination of competition. Article 101 is structured into three paragraphs. The first paragraph lays down a general prohibition of any collusive behavior between undertakings having as its object or effect the restriction, prevention, or distortion of competition in the market.
61. 2010. 62. See G. Faure and T. Hartlief, “Insurance and expanding systemic risks,” OECD, Policy Issues in insurance, 2003, p. 12. G. Vaughan and M. , John Wiley & Sons, 2008. 63. See M. Faure, “Insurance and competition law: balancing the conflicts,” Global Issues in Insurance Regulation, London, 17–18 April 2002, p. 6. pdf accessed on 3 July 2011. On this point, see also G. Faure and R. Van Den Bergh, “Competition on the European Market for Liability Insurance,” 2002, p. 12. nl. 64. The final price of insurance comprises the so-called risk premium covering the cost of the insured product, a security charge, overheads and profit.
Finally, we shall endeavor to identify valid policy reasons for exposing the insurance industry to effective competition. S. scenario. 2 THE EVOLUTION OF THE INTERNAL MARKET FOR THE INSURANCE INDUSTRY The creation of an internal market for insurance undertakings has had quite a severe impact on the antitrust regulatory framework of the insurance industry. Any considerations related to the problematic application of EU competition law to the insurance industry need; thus, to be considered in the context of the EU, efforts to progressively harmonize the conditions for the provision of insurance services across Europe.