Problems with quality in financial distribution - a state or market failure?

Šindelář, Jiří; Erben, Michal

doi:10.18267/j.cfuc.498

Cited by 3 publications

(1 citation statement)

References 8 publications

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“…Finally, with regard to Czech law, the authors have used the commentary on Czech Act on Undertaking in Capital Markets (Husták et al, 2012), articles on the Czech financial intermediation regime in general (Šárek, 2012, Šindelář andErben, 2017) as well as public information provided by the Czech Ministry of Finance.…”

Section: Literature Reviewmentioning

confidence: 99%

Cross-border Financial Intermediation in the European Union, Slovakia and Czech Republic

Slezáková¹,

Jedinák²

2021

21st International Joint Conference Central and Eastern Europe in the Changing Business Environment : Proceedings

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The paper discusses the sectoral regulatory framework for distribution (intermediation) of financial services under the EU framework (most notably IDD and Mortgage Credit Directive) and how it is implemented into Slovak integrated (cross-sectoral) regulatory regime for financial intermediation. The notable feature of Slovak regime is that it regulates financial intermediation in all main financial sectors (deposit taking, lending including mortgage and consumer loans, capital markets, insurance, pensions) under common framework. However, the harmonisation through EU law and consequent benefits of the single passport are limited to the distribution of insurance and mortgage loans. The paper further compares the Slovak regime with Czech approach with the aim to investigate potential benefits or risks of the further harmonisation of the regulation of financial intermediation / distribution and also financial advisory across various sectors of the national and wider EU financial market. On one hand, further integration may help creating more sophisticated and complex distribution platforms across the EU benefiting from the single passport. On the other hand, it is questionable whether the Slovak approach can be successfully replicated at the EU level.

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Section: Literature Reviewmentioning

confidence: 99%

Cross-border Financial Intermediation in the European Union, Slovakia and Czech Republic

Slezáková¹,

Jedinák²

2021

21st International Joint Conference Central and Eastern Europe in the Changing Business Environment : Proceedings

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Regulation and supervision of distribution of financial products

Musílek¹

2018

ČFÚČ

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Příspěvek diskutuje problematiku regulace a dohledu distribuce finančních produktů, která byla zahájena článkem autorů Šindeláře a Erbena (2017). Úvodní část článku se zaměřuje na podstatné závěry z výše uvedeného článku. Dále je v příspěvku věnována pozornost prohloubení rozboru cílů regulace, a to zejména v oblasti výskytu informační asymetrie. V následující části příspěvku je zpochybňováno tzv. komplexní pojetí regulace. V závěrečné části příspěvku jsou pak rozebrány podrobnější souvislosti důchodové reformy ve formě II. pilíře a její dopad na III. pilíř důchodového systému v České republice.

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Hidden Consequences of Consumer Protection on the Financial Market: Regulation-introduced Bias

Šindelář,

Budinský

2024

Prague Economic Papers

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This paper deals with the problem of how the risk perception among retail customers is affected by the consumer protection regulation on the financial market. Through a questionnaire survey, we have measured the effect of selected consumer protection measures on banking or investment decisions taken by a young (student) population. These measures included the most common elements of financial regulation, such as bank deposit insurance, corporate bond prospectus, licenced fund management and securities broker indemnity insurance. Our results show that protective state intervention represents strong stimuli for customer decision-making with a widely misleading effect. It overshadows other factors, including individual qualification, risk-reward preference and demographic attributes, all of which were found to be insignificant. Since the surveyed measures reached a similar level of effect yet they offer different substance, this outcome has important policymaking implications.

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Problems with quality in financial distribution - a state or market failure?

Cited by 3 publications

References 8 publications

Cross-border Financial Intermediation in the European Union, Slovakia and Czech Republic

Cross-border Financial Intermediation in the European Union, Slovakia and Czech Republic

Regulation and supervision of distribution of financial products

Hidden Consequences of Consumer Protection on the Financial Market: Regulation-introduced Bias

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