Across Europe, around 450 detailed market reviews are taking place, as the national regulatory authorities (NRAs) assess competition and propose remedies in at least 18 different telecoms and electronic communications markets under the new EU regulatory framework. The European Commission has the power to veto the NRAs’ decisions. This article looks at the NRAs’ progress and the Commission’s justification for the veto decisions it has taken so far.
While traditionally associated almost exclusively with balance sheet management by financial institutions, structured finance is now being embraced by an increasing number of companies as their financing method of choice. Yet the exact circumstances in which these complex arrangements make sense are not well understood. This article sheds some light on a topic that is at the frontier of financial innovation.