Abstract
Almost every time a financial crisis occurs, we witness a profound revision of that-time legislation. Over the last years, a number of analysts and institutions have sought to explain the crisis, its origin, its development, and its consequences. They have highlighted several shortcomings: inter alia, various distortions of the regulatory framework have been considered as co-responsible for the problem. It happened after the depression ignited by the 1929 crash, as well as following the Latin American crises of late Seventies. Nowadays, in the aftermath of the Global Financial Crisis (GFC) peaked in 2008, that story is repeating one more time.
If you destroy a free market you create a black market […] If you make ten thousand regulations you destroy all respect for the law.
(Winston Churchill at the House of Commons, 3 February 1949)
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Comana, M., Previtali, D., Bellardini, L. (2019). Introduction. In: The MiFID II Framework. Springer, Cham. https://doi.org/10.1007/978-3-030-12504-2_1
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DOI: https://doi.org/10.1007/978-3-030-12504-2_1
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