Rating agencies: an information privilege whose time has passed
by Nicolas Véron on 04 February 2009
Download: English
Category: POLICY CONTRIBUTIONS
Topics: Financial markets and regulation
Nicolas Véron argues rating agencies have failed the marketplace in the run-up to the crisis, as their risk assessment processes have been found wanting on a number of counts. It is not clear that conflicts of interests have been the root cause of this serious failure, even if such conflicts may have existed. More regulation of rating agencies will not be a sufficient response to the challenge posed by the agencies recent failings, and carries risks of its own. What is needed is a deeper change in the structure of the market for financial risk assessment services.
Europe's banking challenge: reregulation without refragmentation
by Nicolas Véron on 19 December 2008
Download: English
Category: EXTERNAL PUBLICATIONS
Topics: Financial markets and regulation
In CESifo Forum, a publication of the CESifo research group based in Munich, Nicolas Véron analyses the need for an EU prudential supervisor for financial services firms, and identifies possible key features.
Safe and Sound: an EU approach to Sovereign Investment
by Lars-Hendrik Röller, Nicolas Véron on 06 November 2008
Download: English
Category: POLICY BRIEFS
Topics: Financial markets and regulation, Trade, investment and competitiveness
This Policy Brief looks at how the EU should react to the changing patterns of inward foreign investment, including a recent rise in investment coming from countries with diverse, often non-democratic political regimes. Lars-Henrik Röller and Nicolas Véron advocate building an EU-level policy framework for the review of the security consequences of foreign acquisitions, the implementation of which would be carried out at national level.
Investment Protectionism on the Rise?
by Nicolas Véron on 31 October 2008
Download: English
Category: EXTERNAL PUBLICATIONS
Topics: Financial markets and regulation, European and global governance
The International Economy, the specialised quarterly, this fall published a 'face-off' section in which Nicolas Véron argues that investment protectionism is increasingly a matter for concern, while the Financial Times' world trade editor Alan Beattie does not consider it real protectionism to begin with.
Empower users of financial information as the IASC Foundation‘s stakeholders
by Nicolas Véron on 10 July 2008
Download: English
Category: POLICY CONTRIBUTIONS
Topics: Financial markets and regulation, European and global governance
Nicolas Véron comments on the proposal for governance reform (‘constitution review‘) published in May 2008 by the IASC Foundation, the private-sector body which oversees the setting of International Financial Reporting Standards (IFRS). He emphasizes the unprecedented nature of this global governance experiment and advocates for more direct representation of investors as the primary stakeholders of international accounting standard-setting, as well a more thorough consultation process.