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Internet Banking and the Law in Europe

Description

The European Union has long sought to create a single financial area across Europe where consumers in one country benefit from financial markets and activities in other countries. With the emergence of the Internet as a platform for the provision of online banking services, the creation of a pan-European market for banking services appeared a realistic proposition. In practice, however, this has not happened. This book asks why and argues that the creation of banking markets via the Internet relies on both available technologies and appropriate laws and regulations. The institutional and legal framework for online banking services in the single European market are examined, as is the level of legal harmonization achieved in the UK, France and Germany under the influence of the EU Directives pertaining to online banking activities.

Keywords

electronic banking activities perfect mutual recognition online banking activities legal convergence online investment services economic regulatory law single financial area single financial market ancial services investor protection rules providing investment services legal harmonization legal plurality online securities trading single banking licence distance marketing forum judge information society services electronic finance legal diversity consumer protection requirements coordinated field consumer credit agreements

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