This collection of essays examines investor protection in Europe. It offers a broad and coherent examination of the effects of regulatory competition versus harmonization, and covers both capital market and company law perspectives. Including coverage of both the EU and the US, this volume analyses the recent Markets in Financial Instruments European Directive, and explores clearing, settlement, prospectuses, and transparency regulation.

Under English law it is possible to secure credit on almost any asset, but the law is widely considered to be unsatisfactory. Gerard McCormack examines English law and highlights its weaknesses. He uses Article 9 of the American Uniform Commercial Code as a reference point for reform. This Article has successfully serviced the world's largest economy for over 40 years and is increasingly used as the basis for legislation by Commonwealth jurisdictions--including Canada and New Zealand.

Der Grokommentar zum AktG bietet die umfassendste und vollstandigste Darstellung des geltenden Aktienrechts, die in deutscher Sprache erhaltlich ist. Sein hohes Ansehen beruht vor allem auf einer wissenschaftlich fundierten und zugleich praxisorientierten Kommentierung, was nicht zuletzt dadurch gewahrleistet wird, dass auch fur die 4. Auflage hervorragende und namhafte Herausgeber und Autoren aus Praxis und Wissenschaft gewonnen werden konnten.

Die Kommentierung verfolgt nicht nur das Ziel, gleichzeitig den Anspruchen der Wissenschaft, den breit gefacherten Bedurfnissen der Praxis...

Der Grokommentar zum AktG bietet die umfassendste und vollstandigste Darstellung des geltenden Aktienrechts, die in deutscher Sprache erhaltlich ist. Sein hohes Ansehen beruht vor allem auf einer wissenschaftlich fundierten und zugleich praxisorientierten Kommentierung, was nicht zuletzt dadurch gewahrleistet wird, dass auch fur die 4. Auflage hervorragende und namhafte Herausgeber und Autoren aus Praxis und Wissenschaft gewonnen werden konnten.

Die Kommentierung verfolgt nicht nur das Ziel, gleichzeitig den Anspruchen der Wissenschaft, den breit gefacherten Bedurfnissen der Praxis...

Are foreign investors the privileged citizens of a new constitutional order that guarantees rates of return on investment interests? Schneiderman explores the linkages between a new investment rules regime and state constitutions between a constitution-like regime for the protection of foreign investment and the constitutional projects of national states. The investment rules regime, as in classical accounts of constitutionalism, considers democratically authorized state action as inherently suspect. Despite the myriad purposes served by constitutionalism, the investment rules regime aims...

Der Grokommentar zum AktG bietet die umfassendste und vollstandigste Darstellung des geltenden Aktienrechts, die in deutscher Sprache erhaltlich ist. Sein hohes Ansehen beruht vor allem auf einer wissenschaftlich fundierten und zugleich praxisorientierten Kommentierung, was nicht zuletzt dadurch gewahrleistet wird, dass auch fur die 4. Auflage hervorragende und namhafte Herausgeber und Autoren aus Praxis und Wissenschaft gewonnen werden konnten. Die Kommentierung verfolgt nicht nur das Ziel, gleichzeitig den Anspruchen der Wissenschaft, den breit gefacherten Bedurfnissen der Praxis und den...

This volume examines the standards of treatment, demanded from host states, that form the basis of contemporary international investment protection. It analyses the core standards commonly contained in bilateral and multilateral investment treaties, including 'fair and equitable treatment', 'full protection and security', and the non-discrimination standards.
The burgeoning case-law before arbitral tribunals has exercised a huge influence on how these standards are interpreted in practice. The essays in this volume, by leading practitioners and scholars in the field of investment...

Securitization--once a fairly straightforward means of offering collateral for investment--has mushroomed into a massively complex area of financial practice. The central role occupied by such risk-distributing products as collateral debt obligations (CDOs), credit default swaps (CDSs), collateral loan obligations (CLOs), and credit derivatives has given rise to one of the most crucial inquiries of our era: Is the financial collapse that threatens the world financial system due merely to rogue traders? Or is there something in the derivative idea itself that spells inevitable disaster? Most...

Multilateral Agreement on Investment: A Chinese Perspective makes detailed analyses and comments on the MAI from the perspective of a Chinese scholar. The author believes that the behind closed doors process of MAI negotiations is unacceptable for developing countries, NGOs, and civil societies, and is inadvisable for any future negotiations on investment rules. The substantive contents of the MAI which include the definition of investor and investment, treatment of foreign investors and investments, treatment for investment protection, and the dispute settlement mechanism are of high...

While hedge funds have been part and parcel of the global asset management landscape for well over fifty years, it is only relatively recently that they came to prominence as one of the fastest growing and most vigorous sub-sectors of the financial services industry. Despite their growing significance for global and European financial markets, hedge funds continue enjoying a sui generis regulatory status. The ongoing credit crisis and its lessons for the wisdom of unregulated or loosely regulated pockets of financial activity raise, with renewed urgency, the issue of deciding how long for the...

In the wake of the credit crunch, structured finance is linked to bailed-out investment banks and overpaid executives rather than the innovative financial solutions it continues to provide. The initial response from the financial markets was a move back to basics, to plain vanilla transactions.

Furthermore, many structured finance instruments, such as securitization, derivatives and other structured products, are facing intense regulatory and political scrutiny. These pressures notwithstanding, the potential of structured finance will play an important part in facilitating the...

Securities Regulation: The Essentials is part of Aspenand#8217;s new Essentials Series, which takes a and#8220;forest rather than the treesand#8221; approach to teaching. This concise paperback concentrates on the fundamentals of Securities Regulation and uses a relaxed, personal style to explain them. Suitable for use with any casebook, this text will help students recognize and understand common themes and will precipitate understanding of the topics under discussion. Written by Stephen J. Choi and A.C. Pritchard, two well-regarded young securities regulation scholars in the...

After your casebook, Casenotes will be your most important reference source for the entire semester. It is the most popular legal briefs series available, with over 140 titles, and is relied on by thousands of students for its expert case summaries, comprehensive analysis of concurrences and dissents, as well as of the majority opinion in the briefs. Casenotes Features: Keyed to specific casebooks by title/author Most current briefs available Redesigned for greater student accessibility Sample brief with element descriptions called out Redesigned chapter opener provides rule of law and page...

With the collapse of Barings, the expulsion of Daiwa Bank from the United States, the bankruptcy of Orange County, California, and growing Long-Term Capital Management issues, derivatives are increasingly intruding upon the public consciousness. Key issues are whether derivatives are sufficiently understood and how they can be effectively regulated. These are acute problems because, as recent statistics show, derivatives--with a turnover of more than USD 2 trillion a day--constitute the world's biggest business activity. For lawyers, regulators and compliance officers operating in the...

World Law Group Series Volume 1

The International Securities Law Handbook is an easily-accessed desk reference for lawyers and others involved from time to time in the issuance or sale of securities outside their own national jurisdiction. This Handbook presents briefly, in uniform summary form, the key elements of securities law and regulations in twenty national jurisdictions and seven U.S. state jurisdictions. It makes it possible for a foreign lawyer to gain a general understanding of the legal environment affecting securities, to perceive the types of questions...

This paper, aimed at professionals, scholars, and government officials in the field of securities regulations, compares the European (specifically the Market in Financial Instruments Directive--MiFID) and U.S. securities regulations. The analysis focuses on the regulatory and supervisory framework, trading venues, and the provision of investment services. We show that although there may be regional differences in the structure and rules of current securities regulation, the objectives and some outcomes of regulation are comparable. Similarly, as the current global financial and economic...

Although the letter of credit is essentially an international instrument with an age-old pedigree, a troubling number of serious disputes still founder on national provisions with respect to the fraud rule (or fraud exception). The rule is embodied in several major international agreements, but its adjudication takes place under national statutes in which in the opinion of Judge Xiang Gao of the Supreme People's Court of the People's Republic of China (PRC) a significant degree of further refinement and harmonization is called for. Dr. Gao finds the best provisions and practices in respect of...