The Integration of European Financial Markets

Author: Noah Vardi
Publisher: Routledge
ISBN: 1136847839
Format: PDF, ePub, Docs
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The last decade has seen the increasing integration of European financial markets due to a number of factors including the creation of a common regulatory framework, the liberalisation of international capital movements, financial deregulation, advances in technology and the introduction of the Euro. However, the process of integration has proceeded largely in the absence of any comprehensive legal regulation, and has rather been constructed on the basis of sectorial provisions dictated by the needs of cross-border transactions. This has meant that many legal barriers still remain as obstacles to complete integration. This book considers the discipline of monetary obligations within the context of financial markets. The book provides a comparative and transnational examination of the legal rules which form the basis of transactions on financial markets. Analysing the integration of the markets in this way highlights the role of globalisation as the key element favouring the circulation of rules, models, and especially the development of new regulatory sources. The book examines market transactions and the institutes at the root of these transactions, including the type of legislative sources in force and the subjects acting as legislators. The first part of the book concentrates on the micro-discipline of money, debts, payments and financial instruments. The second part goes on to analyse the macro-context of integration of the markets, looking at the persistence of legal barriers and options for their removal, as well as the development of new legal sources as a consequence of the transfer of monetary and political sovereignty. Finally, the book draws links between the two parts and assesses the consequences of the changes at the macro-level of regulation on the micro-level of legal discipline of monetary obligations, particularly focusing on the emergence and growing importance of soft law.

Informal International Lawmaking

Author: Joost Pauwelyn
Publisher: Oxford University Press
ISBN: 0199658587
Format: PDF, ePub, Mobi
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Policy-makers, national administrations, and regulators engage in making laws without the formalities associated with treaties or customary law. This book analyses this informal international lawmaking and its impact on contemporary trends in international interaction, looking at the questions of accountability and effectiveness it raises.

Financial Law in the Netherlands

Author: Marcel C. A. Nieuwenhuijzen
Publisher: Kluwer Law International
ISBN: 9041128573
Format: PDF, Docs
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The Netherlands is one of a handful of countries in which bank enterprise and national financial law give rise to a large number of international financial transactions. It is important then for practitioners in other countries to gain more than a notional understanding of the specific features of Dutch financial law, as well as a clear working knowledge of how Dutch financial law interacts with supranational regulatory and policy regimes affecting financial transactions. Toward this end, this very useful book provides a practical but nevertheless thorough survey of Dutch financial law, with lucid explanations of such topics as the following: specific rules applicable to investment institutions; specific rules applicable to debt instruments; offering securities in both primary and secondary markets; set-off and calculation of obligations of market participants (netting); structures for custody and book-entry transfer of securities; obtaining and terminating listings; mandatory bids, competing bids, friendly and unfriendly bids under public offering regulations; alternative investment funds and fund governance; meaning, jargon and function of derivatives, forwards, futures, options, swaps, etc.; securities repurchase and lending transactions; covered bond regulations; caretaking duties in private and public law; structure of legal proceedings of a prospectus liability claim; unfair commercial practices rules; case law in insider trading and market manipulation; and securities litigation in Dutch private, criminal, and administrative law. Written in clear, easy-to-follow English, this book makes Dutch financial law accessible to lawyers, business persons, and others whose work entails financial transactions in the Netherlands. It also serves as an admirable text for students and academics in the field of financial law.

WTO Domestic Regulation and Services Trade

Author: Aik Hoe Lim
Publisher: Cambridge University Press
ISBN: 1107062357
Format: PDF, ePub
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Innovative, interdisciplinary, practitioner-oriented insights into the key challenges faced in addressing the services trade liberalization and domestic regulation interface.

The Harmonization of International Commercial Law

Author: Silvia Fazio
Publisher: Kluwer Law International
ISBN: 9041125876
Format: PDF, Docs
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Preface. 1. The World Scenario and the Approximation of Law. 2. Vehicles for the Harmonisation of Law. 3. Regionalisation and Standardisation of Law. 4. Regional Corporate Law Harmonisation: The EU and the Mercosur. 5. The Infrastructure of Capital. 6. The Phenomenon of Development: International and Regional Approaches to Banking and Financial Law. 7. Theories of the Company. 8. Corporate Governance. 9. International Legal Standards and the Inclusion of Emerging Countries in the Globalised Order: The Case Study of Brazil. 10. Conclusion: Legal Pluralism and the Creation of Standards within the Process of Globalisation┬┐Analytical Summary and Theoretical and Practical Implications. Bibliography.

Transnational Legal Orders

Author: Terence C. Halliday
Publisher: Cambridge University Press
ISBN: 1107069920
Format: PDF
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"This book offers an empirically grounded theory that reframes the study of law and society from a predominantly national context, which dichotomizes the study of international law and national compliance into a dynamic perspective that places national, international, and transnational lawmaking and practice within a coherent single frame. By presenting and elaborating on a new concept, transnational legal orders it offers an original approach to the emergence of legal orders beyond nation-states. It shows how they originate, where they compete and cooperate, and how they settle on institutions that legally order fundamental economic and social behaviors that transcend national borders. This original theory is applied and developed by distinguished scholars from North America and Europe in business law, regulatory law and human rights"--

Law and Practice of Investment Treaties

Author: Andrew Paul Newcombe
Publisher: Kluwer Law International
ISBN: 9041123512
Format: PDF, ePub
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Foreign investors enjoy the protection of a vast network of international investment agreements (IIAs) supplemented by the general rules of international law. Under IIAs, states must accord foreign investors substantive standards of promotion and protection. In addition, IIAs provide an investor-state arbitration mechanism that allows foreign investors to enforce these standards against host states. In response to disputes arising under the IIA regime, since the early 1990s a significant body of arbitral jurisprudence has developed. This book provides a comprehensive and systematic explanation of these standards of treatment, taking into account developments in treaty practice and arbitral jurisprudence. Where possible, the authors critically examine the applicable principles emerging from treaty practice and jurisprudence. The book focuses on the substantive protections accorded to foreign investors and investments. Among the many specific issues and topics that arise in the course of the analysis are the following: the origins and evolution of the international investment treaty framework; the interaction between international and national law in the resolution of IIA disputes and the interpretation of IIAs; the role IIAs play in investment liberalization and their interaction with other areas of international economic law; the relationship between treaty and customary international law standards; the development of norms of non-discrimination and minimum standards of treatment, including fair and equitable treatment; the meaning of expropriation and conditions for lawful expropriations; the rules relating to transfer of funds, performance requirements and transparency; and exceptions and defences to investment treaty obligations. International business and other investors will greatly appreciate the in-depth information and insightful guidance in this solidly useful book. It will also be welcomed by jurists and students as a significant milestone in the articulation of principles in a quickly growing field of international law.

Designing Legal Frameworks for Public Debt Management

Author: Elsie Addo Awadzi
Publisher: International Monetary Fund
ISBN: 1513567284
Format: PDF, ePub, Docs
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Sustainable public debt has gained renewed attention as countries implement fiscal consolidation measures in the aftermath of the global financial crisis. Sound public debt policies and debt management practices require robust legal underpinnings. Complex legal issues however arise in the design of the legal framework, and tradeoffs are required in many instances. This paper analyzes key features of modern public debt management legal frameworks, drawing from examples in advanced, emerging, and frontier markets. It aims to provide guidance for countries that seek to review and strengthen their public debt management legal frameworks.

The New Microfinance Handbook

Author: Joanna Ledgerwood
Publisher: World Bank Publications
ISBN: 0821389289
Format: PDF, ePub
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The New Microfinance Handbook provides a detailed overview of client financial service needs, the various providers and financial products and services that meet those needs, and the supporting functions that allow the financial market system to provide better, more appropriate financial services to the poor sustainably.

Theatre of the Rule of Law

Author: Stephen Humphreys
Publisher: Cambridge University Press
ISBN: 113949533X
Format: PDF, ePub
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Theatre of the Rule of Law presents a sustained critique of global rule of law promotion - an expansive industry at the heart of international development, post-conflict reconstruction and security policy today. While successful in articulating and disseminating an effective global public policy, rule of law promotion has largely failed in its stated objectives of raising countries out of poverty and taming violent conflict. Furthermore, in its execution, this work deviates sharply from 'the rule of law' as commonly conceived. To explain this, Stephen Humphreys draws on the history of the rule of law as a concept, examples of legal export during colonial times, and a spectrum of contemporary interventions by development agencies and international organisations. Rule of law promotion is shown to be a kind of theatre, the staging of a morality tale about the good life, intended for edification and emulation, but blind to its own internal contradictions.