“The richness, clarity and nuances of the structure and methodology followed by the contributors make the book a very valuable tool for students... seeking to obtain a general understanding of the market and how it is regulated.” – Ligia Catherine Arias Barrera, Banking & Finance Law Review

The fully updated edition of this user-friendly textbook continues to systematise the European law governing capital markets and examines the underlying concepts from a broadly interdisciplinary perspective. The 3rd edition deals with 3 central developments: the project of the capital markets union; sustainable finance; and the further digitalisation of financial instruments and securities markets.

The 1st chapter deals with the foundations of capital markets law in Europe, the 2nd explains the basics, and the 3rd examines the regime on market abuse. Chapter 4 explores the disclosure system and chapter 5 short-selling and high-frequency trading. The role of intermediaries, such as financial analysts, rating agencies, and proxy advisers, is described in chapter 6. Chapter 7 explains compliance and corporate governance in investment firms and chapter 8 illustrates the regulation of benchmarks. Finally, chapter 9 deals with public takeovers.

Throughout the book emphasis is placed on legal practice, and frequent reference is made to the key decisions of supervisory authorities and courts. This is essential reading for students involved in the study of capital markets law and financial law.

This work is probably the best treatise on European securities market law. … The book's greatest virtue is that this very important sector of the economy is approached from an interdisciplinary, systematic and dogmatic perspective. This point of view is not so common and is undoubtedly one of the main merits of the book. * Revista de derecho mercantil [Bloomsbury translation] *
This book provides essential background information for understanding European capital markets law. -- Toshiaki Yamanaka * University of Tsukuba *

Rüdiger Veil holds the Chair for Civil Law and Business Law at Ludwig-Maximilians-Universität, Munich, Germany.