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Professor Pierre Schammo's Outputs (24)

Of standards and technology: ISDA and technological change in the OTC derivatives market (2021)
Journal Article
Schammo, P. (2021). Of standards and technology: ISDA and technological change in the OTC derivatives market. Law and Financial Markets Review, 15(1-2), 3-37. https://doi.org/10.1080/17521440.2022.2063030

For enthusiasts, distributed ledger technology (DLT) and smart contract technology (SCT) promise a future of frictionless interactions and decentralisation. In practice, however, it is widely acknowledged that this vision faces significant challenges... Read More about Of standards and technology: ISDA and technological change in the OTC derivatives market.

Institutional change in the Banking Union: the case of the Single Supervisory Mechanism (2021)
Journal Article
Schammo, P. (2021). Institutional change in the Banking Union: the case of the Single Supervisory Mechanism. Yearbook of European Law, 40, 265-309. https://doi.org/10.1093/yel/yeab002

This article is about institutional change in the Banking Union. It has two related aims. The first is to engage with the law of the Single Supervisory Mechanism (SSM)—the first pillar of the Banking Union—and in this context to discuss tensions that... Read More about Institutional change in the Banking Union: the case of the Single Supervisory Mechanism.

Inaction in macro-prudential supervision: assessing the EU's response (2019)
Journal Article
Schammo, P. (2019). Inaction in macro-prudential supervision: assessing the EU's response. Journal of Financial Regulation, 5(1), 1-28. https://doi.org/10.1093/jfr/fjz001

In the macro-prudential literature, ‘inaction bias’ describes the supposed tendency of macro-prudential actors to favour inaction over action when considering the use of macro-prudential tools. While inaction bias is a topic of much interest in macro... Read More about Inaction in macro-prudential supervision: assessing the EU's response.

‘Undisruption’ in the SME funding market: information sharing, finance platforms and the UK bank referral scheme (2019)
Journal Article
Schammo, P. (2019). ‘Undisruption’ in the SME funding market: information sharing, finance platforms and the UK bank referral scheme. European Business Organization Law Review, 20(1), 29-53. https://doi.org/10.1007/s40804-019-00139-x

Since the financial crisis, various policy initiatives have been adopted in the UK with a view to improve access to finance for SME businesses. One of these initiatives is the bank referral scheme. Under this scheme, incumbent banks must pass on info... Read More about ‘Undisruption’ in the SME funding market: information sharing, finance platforms and the UK bank referral scheme.

Wightman is not the road to never-never land (but would you rather plunge into the Brexit abyss?) (2019)
Journal Article
Schammo, P. (2019). Wightman is not the road to never-never land (but would you rather plunge into the Brexit abyss?). The Company Lawyer, 40(2), 37-38

Discusses the potential effects of Brexit for the UK financial sector, and considers, with reference to Wightman v Secretary of State for Exiting the European Union (C-621/18) (ECJ), the implications of unilaterally cancelling the withdrawal process.... Read More about Wightman is not the road to never-never land (but would you rather plunge into the Brexit abyss?).

Actions and inactions in the investigation of breaches of Union law by the European Supervisory Authorities (2018)
Journal Article
Schammo, P. (2018). Actions and inactions in the investigation of breaches of Union law by the European Supervisory Authorities. Common Market Law Review, 55(5), 1423-1456

This article takes stock of one of the major innovations under the European System of Financial Supervision (ESFS): the breach of Union law procedure. Under this procedure, the European Supervisory Authorities (ESAs) have a key role to play in polici... Read More about Actions and inactions in the investigation of breaches of Union law by the European Supervisory Authorities.

Caught in a cross-fire? The US CFTC and the European Commission’s proposals on third-country CCPs (2018)
Journal Article
Schammo, P. (2018). Caught in a cross-fire? The US CFTC and the European Commission’s proposals on third-country CCPs. The Company Lawyer, 39(9), 277-278

Reviews proposed European Commission amendments to the rules in Regulation 648/2012 concerning central counterparties (CCPs) providing services in the EU. Considers the implications for the UK in its post-Brexit role as a third country, the oversight... Read More about Caught in a cross-fire? The US CFTC and the European Commission’s proposals on third-country CCPs.

The Commission's agenda on financial supervision: forging ahead of Brexit [editorial comments] (2017)
Journal Article
Schammo, P. (2018). The Commission's agenda on financial supervision: forging ahead of Brexit [editorial comments]. The Company Lawyer, 39(1), 1-2

Reflects on European Commission proposals for the European System of Financial Supervision (ESFS) which attempt a re-definition of supervisory competence between Member States and the EU and reform the governance of European Supervisory Authorities.... Read More about The Commission's agenda on financial supervision: forging ahead of Brexit [editorial comments].

Market building and the Capital Markets Union: addressing information barriers in the SME funding market (2017)
Journal Article
Schammo, P. (2017). Market building and the Capital Markets Union: addressing information barriers in the SME funding market. European Company and Financial Law Review, 14(2), 271-313. https://doi.org/10.1515/ecfr-2017-0014

The Capital Markets Union (CMU) is one of the flagship policy initiatives of the Juncker Commission. The Commission’s strategy for realizing a CMU is set out in its White Paper on building a CMU. Besides describing the Commission’s vision of a CMU, t... Read More about Market building and the Capital Markets Union: addressing information barriers in the SME funding market.

The European Central Bank’s duty of care for the unity and integrity of the internal market (2017)
Journal Article
Schammo, P. (2017). The European Central Bank’s duty of care for the unity and integrity of the internal market. European law review, 42(1), 3-26

As a result of the establishment of the Single Supervisory Mechanism, the European Central Bank (ECB) was vested with significant supervisory tasks in the prudential field. The ECB exercises these tasks with a view to contributing to the safety and s... Read More about The European Central Bank’s duty of care for the unity and integrity of the internal market.

The UK’s five “noes” on EU economic governance (2016)
Journal Article
Schammo, P. (2016). The UK’s five “noes” on EU economic governance. The Company Lawyer, 37(7), 201-202

Outlines the economic governance measures of the special settlement concerning the UK's relationship with the EU if a "remain" vote is delivered in the referendum of 23 June 2016, described in terms of a UK "no" to: (1) discriminatory treatment; (2)... Read More about The UK’s five “noes” on EU economic governance.

Protecting the City of London? UK challenges before the Court of Justice of the European Union (2015)
Journal Article
Schammo, P. (2015). Protecting the City of London? UK challenges before the Court of Justice of the European Union. The Company Lawyer, 36(3), 65-66

Reflects on the Advocate General's Opinion in United Kingdom v European Parliament (C-507/13), challenging measures in Regulation 575/2013 and Directive 2013/36 which cap bankers' bonuses on the basis that: (1) the provisions on which the measures we... Read More about Protecting the City of London? UK challenges before the Court of Justice of the European Union.

Protecting the City of London? UK challenges before the Court of Justice of the European Union (2014)
Journal Article
Schammo, P. (2014). Protecting the City of London? UK challenges before the Court of Justice of the European Union. The Company Lawyer, 35(7), 193-194

Reviews the approach of the European Court of Justice to UK challenges to EU measures that threaten the City of London's interests as a global financial centre, including the court's findings in United Kingdom v European Parliament (C-270/12) on whet... Read More about Protecting the City of London? UK challenges before the Court of Justice of the European Union.

Protecting the City of London? UK challenge to EU agency law. [editorial comments] (2014)
Journal Article
Schammo, P. (2014). Protecting the City of London? UK challenge to EU agency law. [editorial comments]. The Company Lawyer, 35(2), 33-34

Highlights ongoing UK actions before the European Court of Justice challenging perceived threats which EU legislation poses to national interests and those of the City of London, including the proposed financial transaction tax. Discusses the specifi... Read More about Protecting the City of London? UK challenge to EU agency law. [editorial comments].

Home country control with consent: a new paradigm for ensuring trust and cooperation in the internal market? (2013)
Journal Article
Schammo, P. (2013). Home country control with consent: a new paradigm for ensuring trust and cooperation in the internal market?. The Cambridge yearbook of European legal studies, 15, 467-501. https://doi.org/10.1017/s152888700000313x

Home country control has been a long-standing principle of supervisory governance in the internal market. However, in the wake of the financial crisis the principle has come under stress. This paper looks at ways to deal with home country control by... Read More about Home country control with consent: a new paradigm for ensuring trust and cooperation in the internal market?.

The European Securities and Markets Authority: Lifting the Veil on the Allocation of Powers (2011)
Journal Article
Schammo, P. (2011). The European Securities and Markets Authority: Lifting the Veil on the Allocation of Powers. Common Market Law Review, 48(6), 1879-1913

The European Securities and Markets Authority (ESMA) was established in 2011 in the wake of the financial crisis. As one of the European Supervisory Authorities (ESA), it is part of the new European System of Financial Supervision. In order to carry... Read More about The European Securities and Markets Authority: Lifting the Veil on the Allocation of Powers.