Overview

EU policy in the area of corporate governance and capital markets is being reoriented. Harmonization is less frequently seen as a concept in company law; regulatory competition is on the rise; and experiments in soft law are being carried out. Several Member States have recently reformed their corporate laws, wither as a reaction to financial scandals or in an effort to enhance investment. Convergence has increased as a result, particularly towards Anglo-American standards. Yet differences still exist, profoundly rooted in national systems of corporate governance. By contrast, capital markets law would seem to be an exception, having undergone intense harmonization in the last few years through the Lamfalussy regulatory architecture. Nonetheless, a European system of securities regulation is not yet in place. Regulation is predominantly domestic, while private laws affecting capital markets are still divergent. This volume examines the ongoing debate from an interdisciplinary perspective. Part 1 explores the political determinants of corporate governance and evaluates likely convergence and the role of regulatory competition. Part 2 considers the Markets in Financial Instruments Directive (MIFID) and its central role in harmonizing EU securities trading. Part 3 analyzes the MiFID more deeply and explores other measures including the Prospectus and Transparency Directives. Part 4 offers future perspectives on the post-FSAP era.

Full Product Details

Author:   Guido Ferrarini (Professor of Law at the University of Genoa and Director of the Centre for Law and Finance) ,  Eddy Wymeersch (Professor at the University of Ghent and Chairman of the Banking, Finance, and Insurance Commission in Brussels)
Publisher:   Oxford University Press
Imprint:   Oxford University Press
Dimensions:   Width: 17.00cm , Height: 3.00cm , Length: 24.00cm
Weight:   0.924kg
ISBN:  

9780199202911

ISBN 10:   0199202915
Pages:   544
Publication Date:   26 October 2006
Audience:   College/higher education ,  Professional and scholarly ,  Postgraduate, Research & Scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   To order  
Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us.

Table of Contents

Part 1: Institutional Structure, Regulatory Competition and Regulatory Strategies 1: Dennis C. Mueller: The Economics and Politics of Corporate Governance in the European Union 2: Pierre Salmon: Political Yardstick Competition and Corporate Governance in the European Union 3: Ehud Kamar: Using Corporate Law to Compete for Investments 4: Gerard Hertig and Joseph A. McCahery: A Legal Options Approach to EC Company Law 5: Eddy Wymeersch: How Can Corporate Governance Codes Be Implemented? Part 2: The New European Regulation of Trading Venues 6: Ryan Davies, Alfonso Dufour and Brian Scott-Quinn: The MiFID: Competition in a New European Equity Market Regulatory Structure 7: Barbara Alemanni, Giuseppe Lusignani and Marco Onado: The European Securities Industry. Further Evidence on the Roadmap to Integration 8: Guido Ferrarini and Fabio Recine: The MiFID and Internalisation 9: Johannes Köndgen and Erik Theissen: Internalisation under the MiFID: Regulatory Overreaching or Landmark in Investor Protection? Part 3: Further Issues in Regulatory Harmonization 10: Peter O. Mülbert: The Eclipse of Contract Law in the Investment Firm-Client- Relationship: The Impact of the MiFID on the Law of Contract from a German Perspective 11: Luca Enriques: Conflicts of Interest in Investment Services: The Price and Uncertain Impact of MiFID s Regulatory Framework 12: Alain Pietrancosta: The Public Offering of Securities Concept in the New Prospectus Directive 13: Francesco Denozza: Nonfinancial Disclosure between Shareholder Value and Socially Responsible Investing Part 4: After the Financial Services Action Plan 14: Niamh Moloney: Effective Policy Design for the Retail Investment Services Market: Challenges and Choices Post FSAP 15: Michel Tison: Financial Market Integration in the Post FSAP Era. In Search of Overall Conceptual Consistency in the Regulatory Framework 16: Eddy Wymeersch: Securities Clearing and Settlement:Regulatory Developments in Europe 17: Donald C. Langevoort: Structuring Securities Regulation in the European Union: Lessons from the U.S. Experience

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Author Information

Guido Ferrarini is Professor of Law at the University of Genoa and Director of the Centre for Law and Finance. Eddy Wymeersch is Professor at the University of Ghent and Chairman of the Banking, Finance, and Insurance Commission in Brussels. They have been involved with several successful volumes including Corporate Governance in Context: Corporations, States, and Markets in Europe, Japan, and the U.S. (Hopt, Wymeersch, Kanda, and Baum eds. OUP forthcoming 2006), Reforming Company and Takeover Law in Europe (Ferrarini, Hopt, Winter, and Wymeersch eds., OUP 2004), and Capital Markets and Company Law (Hopt and Wymeersch eds., OUP 2003).

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