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In today's financial markets, investors no longer hold securities physically. Instead, securities such as shares or bonds are mostly held through intermediaries and transferred by way of book-entries on securities accounts. However, there are remarkable conceptual differences between the various jurisdictions with regard to the legal treatment of intermediated securities. It is widely agreed that this patchwork creates considerable legal risks, especially in cross-border situations. Two initiatives are in place to reduce these risks. In 2009, the UNIDROIT Convention on Substantive Rules for Intermediated Securities (the 'Geneva Securities Convention') was adopted, aimed at harmonisation on the international level. The EU Commission is also running a legislative project, to achieve harmonisation at the regional level. This book compares both initiatives and analyses their impact on the securities laws of selected European jurisdictions.
This book charts the process of financial market reform in Central and Eastern Europe. Topics discussed will include the implications of future EU membership, and the strategies pursued by the World Bank and International Monetary Fund.
Analyses governance structures for international finance, evaluates current regulatory reforms and proposes a new governance system for global financial markets.
This insightful book provides a comprehensive analysis of the interplay between EU financial regulation and civil liability. It explores this interrelationship in order to determine whether a coordinated approach has been adopted.
'...this book would be suited to lawyers and non-lawyers alike. In addition, it provides an interesting look at the EU banking system and the systems of Central and Eastern European countries.' - Ellie Palmer, Journal of International Banking Law and Regulation The eastwards expansion of the European Union is one of the most explosive economic and political issues of the early 21st century. Economic and financial stability combined with rising prosperity in the applicant countries are increasingly seen as necessary preconditions for European Union membership. This authoritative volume, written by scholars and practitioners from Central and Western Europe and the United States, confronts the ...
Internationally recognized experts from the academic and think-tank communities in the United States, Mexico, and Canada consider the origins of the current crisis in Mexico, and the nature and effectiveness of the Calderón government's response, through the lens of Joel Migdal's concept of "the state in society."
Présentation de l'éditeur : "In an examination that is at once critical, comparative and interdisciplinary, the book discusses the stated objectives of the EU issuer-disclosure regime - principally about retail investor protection - and then goes on to identify objectives that can actually be met in practice, i.e. market efficiency and corporate governance. The author concludes by drawing concrete policy and regulatory implications, along the way covering such aspects and ramifications of the regime. In its defence of the power of market forces as regulatory means, and its clear argument that market finance should be seen at a minimum as a useful complement to bank credit and other financing sources, this important book can claim a privileged space in the debate over the role of disclosure requirements in securities regulation."
Uses economic and reflexive governance theories to demonstrate how EC law achieves the necessary balance between integration and regulatory diversity.
The business corporation is one of the greatest organizational inventions, but it creates risks both for shareholders and for third parties. To mitigate these risks, legislators, judges, and corporate lawyers have tried to learn from foreign experiences and adapt their regulatory regimes to them. In the last three decades, this approach has led to a stream of corporate and capital market law reforms unseen before. Corporate governance, the system by which companies are directed and controlled, is today a key topic for legislation, practice, and academia all over the world. Corporate scandals and financial crises have repeatedly highlighted the need to better understand the economic, social, political, and legal determinants of corporate governance in individual countries. Comparative Corporate Governance furthers this goal by bringing together current scholarship in law and economics with the expertise of local corporate governance specialists from twenty-three countries.
The Contribution of the International Tribunal for the Law of the Sea to the Rule of Law: 1996-2016 contains contributions from judges and former judges of the Tribunal, legal advisors, counsel, practitioners and scholars on the contribution made by the Tribunal to the rule of law and the progressive development of international law. Highlighting the role played by the Tribunal over the last 20 years in the system for the peaceful settlement of law of the sea related disputes, this volume will be a useful resource for all those interested in the law of the sea and dispute resolution. La contribution du Tribunal international du droit de la mer à l‘état de droit: 1996-2016 rassemble les c...